Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2410 Kelli Blvd Hermiston, OR 97838-8448

    • Distribution centers
    • 52,320 SF
    • 3.41 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2020
    Value Estimations
    $860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0444282
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Vern's & Sons / Food Products Supplier / Bakery

    Property Details for 2410 Kelli Blvd

    Year built
    1997
    Lot size
    3.41 lot acres
    Property size
    52,320 SF
    Zone code
    M-1,C-2
    Property type
    Distribution centers
    APN
    4N2824B000503
    APU
    4N2824B000503

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $860,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hermiston
    County
    Umatilla
    State
    Oregon
    Longitude
    -119.266
    Latitude
    45.8151
    CBSA code
    25840
    CBSA name
    HERMISTON-PENDLETON, OR MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $68,982
    $145,820
    $3,386,690
    $3,532,510
    -
    $191,290
    $4,147,890
    $4,339,180

    Comparable in this City

    • Value Estimation by Request
      50,000 SF

      78049 Or-207

      Distribution properties • 50,000 SF
      78049 Or-207, Hermiston, OR 97838
      View Details
    • Value Estimation
      $665,000
      21,596 SF

      28723 Westport Rd

      DISTRIBUTION WAREHOUSE • 21,596 SF
      28723 Westport Rd, Hermiston, OR 97838-9576
      View Details
    • Value Estimation
      $345,000
      186.54 Acres

      1455 Feedville Rd

      DISTRIBUTION WAREHOUSE • 186.54 Acres
      1455 Feedville Rd, Hermiston, OR 97838-9402
      View Details
    • Value Estimation
      $280,000
      2,924 SF

      140 1st Pl

      DISTRIBUTION WAREHOUSE • 2,924 SF
      140 1st Pl, Hermiston, OR 97838
      View Details
    • Value Estimation
      $630,000
      26,560 SF

      Hermiston, OR 97838

      DISTRIBUTION WAREHOUSE • 26,560 SF
      Hermiston, OR 97838
      View Details
    • Value Estimation
      $895,000
      169,080 SF

      Hermiston, OR 97838

      DISTRIBUTION WAREHOUSE • 169,080 SF
      Hermiston, OR 97838
      View Details

    Similar Nearby for Sale

    • $2,434,500
      9,540 SF

      Highway 395 Industrial Flex Property

      11-acre industrial flex property with shop and retail showroom.
      81143 Highway 395 N, Hermiston, OR 97838
      View Details
    • $99,900
      0.21 Acres

      Hermiston Buildable Lot For Sale

      0.21 acre lot in Desert Sky Estates, Hermiston, OR.
      567 SW Desert Sky Dr, Hermiston, OR 97838
      View Details
    • $140,000
      0.46 Acres

      Hermiston Land in Gettman Hill

      Oversized building lot in Hermiston's premier subdivision.
      9007 SW 3Rd Pl, Hermiston, OR 97838
      View Details
    • $85,000
      1,459 SF

      Affordable Manufactured Home in Park

      3-bedroom, 2-bathroom manufactured home with modern updates and efficient utilities.
      1215 SW 11Th St, Hermiston, OR 97838
      View Details
    • $140,000
      0.31 Acres

      Oversized Lot in Gettman Hill

      0.31 acre lot in Hermiston's premier subdivision.
      9011 W Condon Ave, Hermiston, OR 97838
      View Details
    • $230,000
      4.00 Acres

      Hermiston Irrigated Land For Sale

      4 Irrigated acres ready for a new home.
      Parcel 2 Cooney Ln, Hermiston, OR 97838
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      11,234 SF

      Hermiston Office Space: 1,304 SF Available

      Prime Hermiston office suite, 1,304 sq ft, recently renovated.
      115 Hermiston Ave, Hermiston, OR 97838
      View Details
    • $8,500 /Mo
      6,773 SF

      Hermiston Retail Space For Lease

      Prime retail location in Hermiston, Oregon with street frontage.
      1619 N 1 Ave, Hermiston, OR 97838
      View Details
    • $16 SF/Yr
      7,000 SF

      Updated Office Space in Hermiston

      Updated 1,200 SF office space with ample parking.
      115 East Highland Ave, Hermiston, OR 97838
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2410 Kelli Blvd
    Hermiston, OR 97838-8448
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.