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Property profile & analytics
OFF-MARKET
Estimated value
$5,105,000
Medical Office Space
2311 Northrup St 2327, Portland, OR 97210-2994
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US71-0677320
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1956
Total area
14,438 SF
Lot
0.23 ac (10,058 SF)
Zoning code
CS
APN
1N1E33BB 04200
UPID
US71-0677320
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
-
McCarthy Mary MD Physician
-
Clínica Woolley Alternative Medicine Practice
-
Richard L. Dietrich, DMD Dental Office
-
Northwest Portland Dental : Portland Dentist Dental Office
-
Skin by Lovely Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.10M
Blend (final)
Blend
$5.11M
Owner & transaction history
Eastern Western Corporation · 12 yrs held
Eastern Western Corporation
since 2013
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+13.4%
Commercial (general)
$4.8M
+10.1%
Apartment house (5+ units)
$4.5M
+2.6%
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
$4,360,000
Current use
RESTAURANT
$4,945,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,800,000
Change: +10% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,475,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,410,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$4,335,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$4,175,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$5.11M
Range $4.59M – $5.62M · ±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
$354 / 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
$66,522
Tax year 2023
Assessed value
$2,512,760
Assessed 2023
Previous assessed
$2,439,580
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,393,550
Improvement market value
$3,990,130
Total market value
$6,383,680
Applied tax rate
1.0000
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
1956
Heating
NONE
Stories
2
Total area
14,438 SF
Lot
0.23 ac (10,058 SF)
Zoning code
CS
APN
1N1E33BB 04200
UPID
US71-0677320
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · 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
$4.4M
RESTAURANT
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING
Est. value
$4.2M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1956
Heating
NONE
Stories
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Eastern Western Corporation
Entity
Mailing address
PO BOX 3228, PORTLAND, OR 97208-3228
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2018
—
Eastern Wstrn Corp
—
Deed
related
$3,000,000 · M&t R/e Tr
Sep 10, 2013
$3,865,000
Eastern Western Corporation
Tmp Northrup LLC
Warranty Deed
$2,292,000 · One Pacificcocast Bank Fsb
Mar 15, 2006
$4,200,000
Tmp Northrup LLC
2311 Northrup LLC
Warranty Deed
$2,660,000 · Morgan Stanley Mortgage Capital INC
Mar 15, 2006
—
2311 Northrup LLC
2311 Northrup LLC
Quit Claim Deed
related
—
Jul 21, 2005
—
Paul R Frisch
2311 Northrup LLC
Warranty Deed
—
Jan 22, 2003
$2,900,000
2311 Northup LLC
Northrup Medical Building
Grant Deed
related
$2,175,000 · Wells Fargo Bank
Feb 10, 2000
$253,170
Aphrodite Kapellakis
Northrup Commons LLC
Grant Deed
$147,160 · Associated Mortgage Group
Nov 18, 1998
—
Northrup Medical Building Gp
—
Deed Of Trust
related
$1,612,500 · Wells Fargo Bank
Jul 18, 1995
—
Northrup Medical Building
Giustina,e D & Teresa A
Grant Deed
$1,393,000 · Us National Bank Oregon
Sep 2, 1993
$1,100
Giustina,e D & Teresa A
Western American
Trustees Deed
$800,000 · Seller
Sep 2, 1993
—
Western American Exchange Corp
Galen,william P
Trustees Deed
related
—
—
—
Eastern Wstrn Corp
—
Deed Of Trust
related
$3,000,000 · M&t R/e Tr
—
—
Peter A Heeman
—
Deed Of Trust
related
$150,000 · Onpoint Community Cu
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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