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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Turn key restaurants
2203 Alberta St Portland, OR 97211-5851
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US71-0345589
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1924
Total area
3,744 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CSH
APN
1N1E23AA 14400
UPID
US71-0345589
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
-
Alberta Street Wine Shop Specialty Food Shop Wine and Liquor Store
-
Ciao Vito Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$725k
Owner & transaction history
B & B Pappenheim LLC · 11 yrs held
B & B Pappenheim LLC
since 2015
7 recorded transactions
Zoning & alternative use
CSH · Portland, 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 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
AUTO REPAIR, GARAGE
$1,145,000
Change: -11% · Conversion: Difficult
MEDICAL BUILDING
$1,130,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$1,125,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$1,080,000
Change: -16% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,080,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$194 / 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
$5,376
Tax year 2023
Assessed value
$202,890
Assessed 2023
Previous assessed
$196,990
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$284,360
Improvement market value
$670,960
Total market value
$955,320
Applied tax rate
710.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1924
Heating
NONE
Stories
1
Total area
3,744 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CSH
APN
1N1E23AA 14400
UPID
US71-0345589
Jurisdiction
MULTNOMAH
Zoning & alternative use
CSH · Portland, OR
Zoning CSH · permitted uses
CSH · 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
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1924
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
B & B Pappenheim LLC
Entity
Mailing address
9323 N POLK AVE, PORTLAND, OR 97203-2323
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2017
—
Barry Pappenheim
—
Deed
related
$529,580 · Lewis & Clark Bk
Jun 8, 2015
—
B & B Pappenheim LLC
Pappenheim Barry
Quit Claim Deed
related
—
Apr 6, 2011
—
Barry Pappenheim
Barric Ents LLC
Quit Claim Deed
—
Oct 27, 2004
—
Barric Ents LLC
—
Trustees Deed
related
$75,000 · John & Shirley Wentland
Oct 24, 2001
$175,190
Barric Enterprises LLC
Wentland,john L & Shirley
Grant Deed
$195,000 · Merchant National Bank
May 11, 1995
$52,190
John L Wentland
Redman,william R & June L
Grant Deed
$30,000 · Seller
—
—
Barric Ents LLC
—
Deed Of Trust
related
$382,000 · Barry Pappenheim
—
—
Barric Ents LLC
—
Deed Of Trust
related
$10,000 · Mbank
—
—
Barric Enterprises LLC
—
Deed Of Trust
related
$20,000 · Merchant National Bank
—
—
Barry Pappenheim
—
Deed Of Trust
related
$462,282 · Lewis & Clark Bank
—
—
Barry Pappenheim
—
Deed Of Trust
related
$453,000 · Lewis & Clark Bank
—
—
Barry Pappenheim
—
Loan Modification
related
$529,580 · Lewis & Clark Bk
—
—
Barric Enterprises LLC
—
Deed Of Trust
related
$250,000 · Mbank
—
—
Barric Enterprises LLC
—
Deed Of Trust
related
$80,000 · Mbank
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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