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Property profile & analytics
OFF-MARKET
Estimated value
$38,705,000
Warehouses
21409 115th Ave, Tualatin, OR 97062-6881
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-1766690
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Construction
WOOD FRAME
Total area
226,960 SF
Lot
11.38 ac (495,713 SF)
Zoning code
MG
APN
2S127C0-00100
UPID
US71-1766690
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
-
Amazon DPD4 Warehouse & Storage
-
QM6 Logistics LLC Courier Service Postal Service
-
Amazon Locker - Duckbill Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.70M
Blend (final)
Blend
$38.71M
Owner & transaction history
Majestic Tualatin LLC · 8 yrs held
Majestic Tualatin LLC
since 2018
7 recorded transactions
Zoning & alternative use
MG · Tualatin, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$62.9M
+59.0%
Retail stores
$50.8M
+28.3%
Apartment house (5+ units)
$50.4M
+27.5%
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 Tualatin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tualatin 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
WAREHOUSE, STORAGE
$39,565,000
Current use
COMMERCIAL (GENERAL)
$62,895,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$50,775,000
Change: +28% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$50,430,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$36,860,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$38.71M
Range $34.83M – $42.58M · ±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
$171 / 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
$321,103
Tax year 2023
Assessed value
$16,425,640
Assessed 2023
Previous assessed
$15,947,230
+3.0% YoY
Effective rate
1.95%
On assessed value
Land market value
$5,700,700
Improvement market value
$23,979,490
Total market value
$29,680,190
Applied tax rate
88.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Construction
WOOD FRAME
Heating
STOVE
Bathrooms
1
Total area
226,960 SF
Lot
11.38 ac (495,713 SF)
Zoning code
MG
APN
2S127C0-00100
UPID
US71-1766690
Jurisdiction
WASHINGTON
Zoning & alternative use
MG · Tualatin, OR
Zoning MG · permitted uses
MG · Tualatin, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tualatin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$39.6M
COMMERCIAL (GENERAL)
Est. value
$62.9M
RETAIL STORES
Est. value
$50.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$50.4M
AUTO REPAIR, GARAGE
Est. value
$36.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
2018
Construction
WOOD FRAME
Heating
STOVE
Bathrooms
1
Lot
11.38 ac
Current owner
From public records · entity-resolved
Majestic Tualatin LLC
Entity
Free & Clear · 8 yrs held
Mailing address
13191 XRDS PKWY N #6, CITY OF INDUSTRY, CA 91746-3421
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2020
—
Majestic Tualatin LLC
—
Deed
related
$25,000,000 · Miscellaneous Ins Co
Sep 13, 2018
—
Majestic Tualatin LLC
—
Grant Deed
related
$19,300,000 · Jp Morgan Chase Bk
Jan 30, 2018
$3,820,000
Majestic Tualatin LLC
Nemarnik Family Properties LLC
Grant Deed
—
May 9, 2008
—
Leahy Investments LLC
—
Deed Of Trust
related
$5,385,000 · Columbia Community Bank
Dec 19, 2007
$4,022,848
Nemarnik Family Properties LLC
Leahy Investments LLC
Warranty Deed
—
Oct 20, 2006
$2,000,000
Leahy Investments LLC
Sharp,stanley E
Grant Deed
$5,385,000 · Columbia Community Bank
—
—
Nemarnik Family Properties LLC
—
Deed Of Trust
related
$9,869,000 · Farm Credit Service
—
—
Majestic Tualatin LLC
—
Deed Of Trust
related
$25,000,000 · Miscellaneous Ins Co
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.
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