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Property profile & analytics
OFF-MARKET
Office Spaces
237 1st E Ave Albany, OR 97321
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-0864605
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1971
Total area
309 SF
Lot
0.15 ac (6,534 SF)
APN
11S 03W 06CD 05900
UPID
US71-0864605
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Eric G Hoffman · 4 yrs held
Eric G Hoffman
since 2021
6 recorded transactions
Zoning & alternative use
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 Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,282
Tax year 2023
Assessed value
$64,360
Assessed 2023
Previous assessed
$62,490
+3.0% YoY
Effective rate
1.99%
On assessed value
Land market value
$108,370
Improvement market value
$12,170
Total market value
$120,540
Applied tax rate
846.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1971
Heating
NONE
Stories
1
Total area
309 SF
Lot
0.15 ac (6,534 SF)
APN
11S 03W 06CD 05900
UPID
US71-0864605
Jurisdiction
LINN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Eric G Hoffman
Individual
Mailing address
6615 NW QUAILWOOD DR, ALBANY, OR 97321-9300
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2021
—
Eric G Hoffman
Martin T Hoffman
Intrafamily Transfer
related
$100,000 · Summit Bank
Feb 24, 2020
—
Shocknawe LLC
—
Deed
related
$1,735,924 · Summit Bank
Oct 2, 2017
—
Shocknawe LLC
David J Reece
Special Warranty Deed
—
Jan 10, 2017
$195,000
Iwbp LLC
Dunmire LLC
Warranty Deed
—
Dec 29, 2011
—
Dunmire LLC
Dunmire,fredrick C & Linda L
Quit Claim Deed
related
—
Nov 3, 2005
$195,000
Iwbp LLC
Dunmire,fredrick & Linda
Grant Deed
—
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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