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Property profile & analytics
OFF-MARKET
Estimated value
$4,820,000
Hotels
245 1st St, Hermiston, OR 97838-1801
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0839327
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2017
Total area
53,826 SF
Lot
1.61 ac (70,175 SF)
Zoning code
C-2
APN
4N2810DA00100
UPID
US71-0839327
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
-
Manuela Hair Design Hair Salon
-
Holiday Inn Express & Suites Hermiston Downtown, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.17M
Comparable Approach
Comparable
$4.48M
Blend (final)
Blend
$4.82M
Owner & transaction history
Hermex LLC · 10 yrs held
Hermex LLC
since 2016
4 recorded transactions
Zoning & alternative use
C-2 · Hermiston, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+143.4%
Medical building
$5.8M
+118.2%
Commercial (general)
$5.5M
+107.3%
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 Hermiston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hermiston 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%
$5,595,000
6.5%
$5,165,000
7%
$4,795,000
Alternative Use
Use
Estimation
RESTAURANT
$6,420,000
Change: +143% · Conversion: Difficult
MEDICAL BUILDING
$5,755,000
Change: +118% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,465,000
Change: +107% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,280,000
Change: +100% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,840,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$3,390,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$4.82M
Range $4.34M – $5.30M · ±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
$90 / 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
$148,658
Tax year 2023
Assessed value
$6,899,260
Assessed 2023
Previous assessed
$6,698,320
+3.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$359,400
Assessed improvement
$6,539,860
Land market value
$309,700
Improvement market value
$10,810,000
Total market value
$11,119,700
Applied tax rate
818.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2017
Heating
NONE
Total area
53,826 SF
Lot
1.61 ac (70,175 SF)
Zoning code
C-2
APN
4N2810DA00100
UPID
US71-0839327
Jurisdiction
UMATILLA
Zoning & alternative use
C-2 · Hermiston, OR
Zoning C-2 · permitted uses
C-2 · Hermiston, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hermiston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$5.8M
COMMERCIAL (GENERAL)
Est. value
$5.5M
INDUSTRIAL (GENERAL)
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$3.8M
RETAIL STORES
Est. value
$3.4M
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
2017
Heating
NONE
Lot
1.61 ac
Current owner
From public records · entity-resolved
Hermex LLC
Entity
Mailing address
840 BELTLINE RD STE #202, SPRINGFIELD, OR 97477-1192
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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 7, 2021
—
Hermex LLC
—
Deed
related
$6,971,332 · Banner Bank
Jan 13, 2016
—
Hermex LLC
J R T R Investments LLC
Warranty Deed
—
Dec 28, 2015
$900,000
Jim Rauschert
Hermex LLC
Warranty Deed
—
Jan 6, 2015
$1,800,000
Hermex LLC
Mitco Investments LLC
Special Warranty 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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