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Property profile & analytics
OFF-MARKET
Estimated value
$2,550,000
Retail space
2424 Vis Ave 2440 Portland, OR 97201-2351
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0406881
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1908
Total area
7,579 SF
Lot
0.2 ac (8,500 SF)
Zoning code
CN1
APN
1S1E04CB 08000
UPID
US71-0406881
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
-
Andrea Menashe at Windermere Realty Trust Real Estate Agency
-
Richard Horswell Windermere Realty Trust Real Estate Agency
-
Windermere Realty Trust Real Estate Agency
-
Windermere Cronin & Caplan Realty Group Real Estate Agency
-
Michelle Smolinski at Windermere Realty Trust Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$2.55M
Owner & transaction history
Vista Spring LLC · 3 yrs held
Vista Spring LLC
since 2022
2 recorded transactions
Zoning & alternative use
CN1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+14.1%
Auto repair, garage
$2.3M
+1.7%
Medical building
$2.3M
+0.6%
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
RETAIL STORES
$2,275,000
Current use
RESTAURANT
$2,595,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,315,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$2,290,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$2,190,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,015,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.55M
Range $2.30M – $2.81M · ±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
$336 / 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
$19,829
Tax year 2023
Assessed value
$749,020
Assessed 2023
Previous assessed
$727,210
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$394,060
Improvement market value
$2,526,630
Total market value
$2,920,690
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1908
Heating
NONE
Stories
1
Total area
7,579 SF
Lot
0.2 ac (8,500 SF)
Zoning code
CN1
APN
1S1E04CB 08000
UPID
US71-0406881
Jurisdiction
MULTNOMAH
Zoning & alternative use
CN1 · Portland, OR
Zoning CN1 · permitted uses
CN1 · 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
RETAIL STORES Current
Est. value
$2.3M
RESTAURANT
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1908
Heating
NONE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Vista Spring LLC
Entity
Mailing address
PO BOX 2419, GEARHART, OR 97138-2419
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2022
—
Vista Spring LLC
Cynthia S Bricca
Bargain And Sale Deed
$1,050,000 · Mutual Of Omaha Mortgage LLC
Oct 8, 2004
—
Malarkey Eve W Trust
Malarkey,eve A
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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