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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Office buildings
2444 Glacier Pl Redmond, OR 97756-7601
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-0734662
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
3,104 SF
Lot
0.32 ac (13,939 SF)
APN
151317 AC 10443
UPID
US71-0734662
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
$730k
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$815k
Owner & transaction history
Bitner Holdings LLC · 4 yrs held
Bitner Holdings LLC
since 2021
Last sale
$875,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+39.8%
Commercial (general)
$1.2M
+36.9%
Retail stores
$1.0M
+19.5%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$1,045,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$790,000
6.5%
$730,000
7%
$680,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$850,000
Current use
AUTO REPAIR, GARAGE
$1,185,000
Change: +40% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,160,000
Change: +37% · Conversion: Easy
RETAIL STORES
$1,015,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$990,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $875k (Oct 22 2021)
Last sale anchor
$875k
Oct 22 2021
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
$263 / 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
$6,486
Tax year 2023
Assessed value
$326,820
Assessed 2023
Previous assessed
$308,070
+6.1% YoY
Effective rate
1.98%
On assessed value
Land market value
$262,910
Improvement market value
$662,160
Total market value
$925,070
Applied tax rate
2,001.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2002
Heating
NONE
Stories
1
Total area
3,104 SF
Lot
0.32 ac (13,939 SF)
APN
151317 AC 10443
UPID
US71-0734662
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$990,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL 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
2002
Heating
NONE
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Bitner Holdings LLC
Entity
Mailing address
2444 SW GLACIER PL, REDMOND, OR 97756-7601
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2021
$875,000
Bitner Holdings LLC
Nmm LLC
Warranty Deed
—
Apr 21, 2016
$420,000
Nmm LLC
Nichols Group LLC
Warranty Deed
—
—
—
Nichols Group LLC
—
Deed Of Trust
related
$162,058 · Nichols Claire C S P Tr (pt)
—
—
Nichols Group LLC
—
Deed Of Trust
related
$117,626 · Nichols John M S P Tr (pt)
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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