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Property profile & analytics
OFF-MARKET
Estimated value
$1,980,000
Warehouses
2163 Hwy 97, Redmond, OR 97756-9650
Individually Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1928126
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1999
Total area
8,240 SF
Lot
1.98 ac (86,249 SF)
APN
151321 B0 03100
UPID
US71-1928126
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$1.98M
Owner & transaction history
Michael D Lehne · 15 yrs held
Michael D Lehne
since 2010
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+114.0%
Apartment house (5+ units)
$3.1M
+113.6%
Commercial (general)
$3.1M
+109.5%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$1,470,000
Current use
AUTO REPAIR, GARAGE
$3,150,000
Change: +114% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,145,000
Change: +114% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,085,000
Change: +110% · Conversion: Difficult
RESTAURANT
$3,055,000
Change: +107% · Conversion: Difficult
RETAIL STORES
$2,690,000
Change: +83% · Conversion: Moderate
MEDICAL BUILDING
$2,630,000
Change: +79% · Conversion: Difficult
OFFICE BUILDING
$2,250,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$1.98M
Range $1.78M – $2.18M · ±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
$240 / 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
$27,735
Tax year 2023
Assessed value
$1,397,450
Assessed 2023
Previous assessed
$1,317,240
+6.1% YoY
Effective rate
1.98%
On assessed value
Land market value
$1,220,780
Improvement market value
$1,182,530
Total market value
$2,403,310
Applied tax rate
2,001.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
NONE
Buildings
7
Total area
8,240 SF
Lot
1.98 ac (86,249 SF)
APN
151321 B0 03100
UPID
US71-1928126
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.1M
RESTAURANT
Est. value
$3.1M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
1999
Heating
NONE
Buildings
7
Lot
1.98 ac
Current owner
From public records · entity-resolved
Michael D Lehne
Individual
Mailing address
7915 SE 162ND AVE, PORTLAND, OR 97236-4837
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2025
—
Michael D Lehne
—
Deed
related
$350,000 · Clackamas County Bank
Feb 28, 2023
—
Michael D Lehne
—
Deed
related
$2,000,000 · Clackamas County Bank
Dec 23, 2010
$900,000
Michael D Lehne
Home Fedl Bk
Grant Deed
$1,120,000 · Robert Whitman
Mar 15, 2010
$2,474,230
Home Fedl Bk
Criswell David W
Trustees Deed
related
—
Dec 13, 2006
$200,000
Dana L Sorum
Keller,jerry S & Ruth E
Grant Deed
—
Feb 23, 2005
—
Jerry S Keller
Sorum,dana L
Grant Deed
—
—
—
Michael D Lehne
—
Deed Of Trust
related
$1,000,000 · Standard Insurance Co
—
—
Michael D Lehne
—
Deed Of Trust
related
$150,000 · Gordon C Gallic
—
—
Dana L Sorum
—
Deed Of Trust
related
$2,245,000 · Community First Bank
—
—
Dana L Sorum
—
Deed Of Trust
related
$2,366,496 · Community First 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.
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