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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Medical Office Space
2220 1st Ave, Portland, OR 97201-5003
Entity Owned
Free & Clear
Property ID
US71-0075337
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1967
Total area
6,675 SF
Lot
0.5 ac (21,660 SF)
Zoning code
CXD
APN
1S1E03CC 00400
UPID
US71-0075337
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
-
Helfgott Research Institute at NUNM Research Institute Research Foundation
-
Dohn R. Kruschwitz, MD Physician
-
Dr. Carrie Norris Alternative Medicine Practice
-
City Center Parking Parking Lot & Garage
-
2220 SW 1st Ave Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.11M
Owner & transaction history
North Office Jp LLC
North Office Jp LLC
since 2025
Last sale
$2.2M
4 recorded transactions
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+13.4%
Auto repair, garage
$2.0M
+1.1%
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
MEDICAL BUILDING
$2,015,000
Current use
RESTAURANT
$2,285,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,040,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$2,005,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,930,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,775,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±10% · vs last sale $2.20M (Jul 31 2025)
Last sale anchor
$2.20M
Jul 31 2025
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
$316 / 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
Land market value
$2,995,880
Improvement market value
$1,034,730
Total market value
$4,030,610
Applied tax rate
709.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1967
Heating
NONE
Stories
1
Total area
6,675 SF
Lot
0.5 ac (21,660 SF)
Zoning code
CXD
APN
1S1E03CC 00400
UPID
US71-0075337
Jurisdiction
MULTNOMAH
Zoning & alternative use
CXD · Portland, OR
Zoning CXD · permitted uses
CXD · 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
MEDICAL BUILDING Current
Est. value
$2.0M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1967
Heating
NONE
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
North Office Jp LLC
Entity
Free & Clear · 0 yrs held
Mailing address
49 SW PORTER ST, PORTLAND, OR 97201-4848
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2025
$2,200,000
North Office Jp LLC
National University Of Natural Medi
Warranty Deed
—
Dec 14, 2015
—
National Clg Of Natural Medicine
—
Deed Of Trust
related
$13,000,000 · Pacific Cont'l Bk
Aug 18, 2005
$1,550,000
National College Of Natural Medicin
Jack L Abdie
Warranty Deed
$1,440,000 · Capital Pacific Bank
—
—
National Clg Of Natural Medicine
—
Deed Of Trust
related
$1,785,000 · Us Bank NA
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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