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Property profile & analytics
OFF-MARKET
Estimated value
$12,605,000
Warehouses
21900 Langer Farms Pkwy Sherwood, OR 97140-9611
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1632503
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2017
Total area
104,919 SF
Lot
6.14 ac (267,458 SF)
Zoning code
LI_PUD
APN
2S129DC-00900
UPID
US71-1632503
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
$12.60M
Blend (final)
Blend
$12.61M
Owner & transaction history
Langer Storage 2 LLC · 7 yrs held
Langer Storage 2 LLC
since 2018
2 recorded transactions
Zoning & alternative use
LI_PUD · Sherwood, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Sherwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sherwood 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
$18,290,000
Current use
AUTO REPAIR, GARAGE
$17,040,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$12.61M
Range $11.34M – $13.87M · ±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
$120 / 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
$77,830
Tax year 2023
Assessed value
$3,943,200
Assessed 2023
Previous assessed
$3,828,350
+3.0% YoY
Effective rate
1.97%
On assessed value
Land market value
$2,875,170
Improvement market value
$3,641,710
Total market value
$6,516,880
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2017
Heating
NONE
Total area
104,919 SF
Lot
6.14 ac (267,458 SF)
Zoning code
LI_PUD
APN
2S129DC-00900
UPID
US71-1632503
Jurisdiction
WASHINGTON
Zoning & alternative use
LI_PUD · Sherwood, OR
Zoning LI_PUD · permitted uses
LI_PUD · Sherwood, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sherwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$18.3M
AUTO REPAIR, GARAGE
Est. value
$17.0M
WAREHOUSE, STORAGE Current
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
2017
Heating
NONE
Lot
6.14 ac
Current owner
From public records · entity-resolved
Langer Storage 2 LLC
Entity
Mailing address
15585 SW TUALATIN SHERWOOD RD, SHERWOOD, OR 97140-8255
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
—
Langer Storage 2 LLC
—
Deed
related
$9,450,000 · Riverview Community Bank
Aug 21, 2018
—
Langer Storage 2 LLC
Langer Family LLC
Bargain And Sale Deed
$5,530,000 · Riverview Community 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
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