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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Warehouses
2502 Multnomah Blvd 2520, Portland, OR 97219-3933
Individually Owned
31-yr Hold
Free & Clear
Property ID
US71-0726823
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1949
Total area
2,475 SF
Lot
0.23 ac (9,959 SF)
Zoning code
R1
APN
1S1E20DA 11100
UPID
US71-0726823
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
-
Peterson James F Custom Woodworking General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$765k
Owner & transaction history
James F Peterson · 31 yrs held
James F Peterson
since 1994
4 recorded transactions
Zoning & alternative use
R1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$755,000
+49.6%
Medical building
$750,000
+48.0%
Retail stores
$745,000
+47.1%
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
WAREHOUSE, STORAGE
$505,000
Current use
AUTO REPAIR, GARAGE
$755,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$750,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$745,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$715,000
Change: +42% · Conversion: Difficult
COMMERCIAL (GENERAL)
$715,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$309 / 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
$10,318
Tax year 2023
Assessed value
$389,740
Assessed 2023
Previous assessed
$389,740
+0.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$597,540
Improvement market value
$387,440
Total market value
$984,980
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1949
Heating
NONE
Stories
1
Total area
2,475 SF
Lot
0.23 ac (9,959 SF)
Zoning code
R1
APN
1S1E20DA 11100
UPID
US71-0726823
Jurisdiction
MULTNOMAH
Zoning & alternative use
R1 · Portland, OR
Zoning R1 · permitted uses
R1 · 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
WAREHOUSE, STORAGE Current
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$755,000
MEDICAL BUILDING
Est. value
$750,000
RETAIL STORES
Est. value
$745,000
OFFICE BUILDING
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$715,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1949
Heating
NONE
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
James F Peterson
Individual
Free & Clear · 31 yrs held
Mailing address
2502 SW MULTNOMAH BLVD, PORTLAND, OR 97219-3933
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1994
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
Aug 18, 1994
$130,000
James F Peterson
Barbara Hampton
Grant Deed
—
—
—
James F Peterson
—
Deed Of Trust
related
$78,000 · Wells Fargo Bank
—
—
James F Peterson
—
Deed Of Trust
related
$33,051 · Key Bank Of Oregon
—
—
James F Peterson
—
Deed Of Trust
related
$33,051 · Key Bank Of Oregon
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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