New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,715,000
Office Spaces
210 Morrison St 218, Portland, OR 97204-3109
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US71-0556584
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1880
Total area
46,146 SF
Zoning code
CXD
APN
1S1E03BA 04700A1
UPID
US71-0556584
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Law Office of Samuel Grosz Law Firm
-
Doyle Thomas K Law Firm
-
Acquisitions Northwest, Inc. Business Service Center
-
Mechanic Law Firm Law Firm
-
Jeff S Pitzer Law Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.72M
Blend (final)
Blend
$9.72M
Owner & transaction history
Madrona Morrison LLC · 23 yrs held
Madrona Morrison LLC
since 2003
2 recorded transactions
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.8M
+18.9%
Auto repair, garage
$14.1M
+6.0%
Medical building
$13.9M
+4.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$13,290,000
Current use
RESTAURANT
$15,805,000
Change: +19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$14,090,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$13,940,000
Change: +5% · Conversion: Easy
RETAIL STORES
$13,855,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$13,335,000
Change: +0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,270,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$9.72M
Range $8.74M – $10.69M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$211 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$79,679
Tax year 2023
Assessed value
$4,200,000
Assessed 2023
Previous assessed
$4,355,740
-3.6% YoY
Effective rate
1.90%
On assessed value
Improvement market value
$4,200,000
Total market value
$4,200,000
Applied tax rate
889.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1880
Heating
NONE
Stories
4
Total area
46,146 SF
Zoning code
CXD
APN
1S1E03BA 04700A1
UPID
US71-0556584
Jurisdiction
MULTNOMAH
Zoning & alternative use
CXD · Portland, OR
Zoning CXD · permitted uses
CXD · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$13.3M
RESTAURANT
Est. value
$15.8M
AUTO REPAIR, GARAGE
Est. value
$14.1M
MEDICAL BUILDING
Est. value
$13.9M
RETAIL STORES
Est. value
$13.9M
OFFICE BUILDING
Est. value
$13.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.3M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1880
Heating
NONE
Stories
4
Current owner
From public records · entity-resolved
Madrona Morrison LLC
Entity
Mailing address
210 SW MORRISON ST STE #600, PORTLAND, OR 97204-3150
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2006
—
Rock Bottom Of Minneapolis
—
Deed Of Trust
related
$50,000,000 · Laminar Direct Capital LP
Jun 30, 2003
$3,500,000
Madrona Morrison LLC
Goodman,douglas A
Grant Deed
$3,825,000 · Pacific Northwest Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 210 Morrison St, Unit 218?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
