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Property profile & analytics
FOR SALE
Warehouses
21640 SE Stark St Gresham, OR 97030
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0723951
For Sale
1 / 12
$2,500,000
21640 SE Stark St, Gresham, OR 97030
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Total area
12,000 SF
Lot
0.81 ac (35,284 SF)
Zoning code
BP
APN
1S3E04AB 01300
UPID
US71-0723951
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
$2.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$2.40M
Owner & transaction history
Majic Works LLC · 2 yrs held
Majic Works LLC
since 2024
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
BP · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.6M
+44.9%
Auto repair, garage
$3.6M
+42.2%
Apartment house (5+ units)
$3.2M
+26.3%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,500,000
Current use
MEDICAL BUILDING
$3,625,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,555,000
Change: +42% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,160,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$3,085,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,970,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (Feb 23 2024)
Last sale anchor
$2.40M
Feb 23 2024
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
$200 / 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
$15,870
Tax year 2023
Assessed value
$842,920
Assessed 2023
Previous assessed
$842,920
+0.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$850,730
Improvement market value
$1,388,480
Total market value
$2,239,210
Applied tax rate
137.0000
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
For Sale
Year built
1973
Heating
NONE
Stories
1
Total area
12,000 SF
Lot
0.81 ac (35,284 SF)
Zoning code
BP
APN
1S3E04AB 01300
UPID
US71-0723951
Jurisdiction
MULTNOMAH
Zoning & alternative use
BP · Gresham, OR
Zoning BP · permitted uses
BP · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1973
Heating
NONE
Stories
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Majic Works LLC
Entity
Mailing address
17110 NW BROKEN TOP DR, BEAVERTON, OR 97006-4864
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
$2,400,000
Majic Works LLC
Dennis R Mesford
Warranty Deed
$3,813,000 · Us Bank NA
Jul 20, 2016
—
Dennis R Mesford
—
Deed
related
$1,100,000 · Mbank
Mar 7, 2007
$1,400,000
Dennis R Mesford
Overpeck Properties LLC
Warranty Deed
$1,260,000 · Lehman Brothers Bank Fsb
Jun 30, 2003
$950,000
Overpeck Properties LLC
Warren Technology Center LLC
Grant Deed
$855,000 · Us Bank NA
Feb 18, 1997
$640,000
James F Warren
Thomas,cam
Grant Deed
—
—
—
Warren Technolohy Center LLC
—
Deed Of Trust
related
$630,000 · Us National Bank Oregon
—
—
Dennis R Mesford
—
Deed Of Trust
related
$1,100,000 · Mbank
—
—
Warren Technology Center LLC
—
Deed Of Trust
related
$45,000 · Perkins & Co
—
—
Rose M Johnson
—
Deed Of Trust
related
$500,000 · Key Bank Of Oregon
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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