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Property profile & analytics
OFF-MARKET
Estimated value
$10,700,000
Apartment buildings
243 Miller Ave, Gresham, OR 97030-7260
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US71-0633058
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2009
Total area
47,356 SF
Lot
0.61 ac (26,572 SF)
Zoning code
DCC
APN
1S3E10BC 07300
UPID
US71-0633058
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
$10.70M
Blend (final)
Blend
$10.70M
Owner & transaction history
Miller Avenue LLC · 6 yrs held
Miller Avenue LLC
since 2020
4 recorded transactions
Zoning & alternative use
DCC · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.9M
+35.9%
Medical building
$14.3M
+14.8%
Auto repair, garage
$14.0M
+12.6%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
APARTMENT HOUSE (5+ UNITS)
$12,465,000
Current use
RESTAURANT
$16,940,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$14,305,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$14,035,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$12,180,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$11,720,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$10.70M
Range $9.63M – $11.77M · ±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
$226 / 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
$74,623
Tax year 2023
Assessed value
$3,963,460
Assessed 2023
Previous assessed
$3,848,020
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$531,440
Improvement market value
$6,741,950
Total market value
$7,273,390
Applied tax rate
26.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2009
Heating
NONE
Stories
1
Total area
47,356 SF
Lot
0.61 ac (26,572 SF)
Zoning code
DCC
APN
1S3E10BC 07300
UPID
US71-0633058
Jurisdiction
MULTNOMAH
Zoning & alternative use
DCC · Gresham, OR
Zoning DCC · permitted uses
DCC · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.5M
RESTAURANT
Est. value
$16.9M
MEDICAL BUILDING
Est. value
$14.3M
AUTO REPAIR, GARAGE
Est. value
$14.0M
OFFICE BUILDING
Est. value
$12.2M
COMMERCIAL (GENERAL)
Est. value
$11.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2009
Heating
NONE
Stories
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Miller Avenue LLC
Entity
Mailing address
PO BOX 1620, GRESHAM, OR 97030-0523
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Apr 24, 2020
—
Miller Avenue LLC
—
Deed
related
$5,350,400 · Dwight Cap
—
—
Miller Avenue LLC
—
Loan Modification
related
$4,675,000 · Miscellaneous Ins Co
—
—
Miller Avenue LLC
—
Deed Of Trust
related
$5,350,400 · Dwight Cap
—
—
Miller Avenue LLC
—
Deed Of Trust
related
$4,960,000 · Banner Bank
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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