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Property profile & analytics
OFF-MARKET
Estimated value
$5,795,000
Commercial land
2522 238th Dr, Wood Village, OR 97060-1011
Entity Owned
32-yr Hold
Free & Clear
Property ID
US71-0992537
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1975
Total area
20,428 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CI
APN
1N3E27AD 00700
UPID
US71-0992537
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
$5.79M
Blend (final)
Blend
$5.80M
Owner & transaction history
Oregon State Of (dept Of Trans · 32 yrs held
Oregon State Of (dept Of Trans
since 1993
4 recorded transactions
Zoning & alternative use
CI · Wood Village, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.3M
+26.1%
Medical building
$6.2M
+6.5%
Auto repair, garage
$6.1M
+4.5%
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 Wood Village submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wood Village 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
COMMERCIAL (GENERAL)
$5,795,000
Current use
RESTAURANT
$7,305,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$6,170,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,055,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$6,040,000
Change: +4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,375,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$5,255,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$5.80M
Range $5.22M – $6.37M · ±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
$284 / 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
Land market value
$196,330
Total market value
$196,330
Applied tax rate
241.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1975
Heating
NONE
Total area
20,428 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CI
APN
1N3E27AD 00700
UPID
US71-0992537
Jurisdiction
MULTNOMAH
Zoning & alternative use
CI · Wood Village, OR
Zoning CI · permitted uses
CI · Wood Village, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wood Village. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.8M
RESTAURANT
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RETAIL STORES
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.4M
OFFICE BUILDING
Est. value
$5.3M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1975
Heating
NONE
Lot
0.42 ac
Current owner
From public records · entity-resolved
Oregon State Of (dept Of Trans
Entity
Free & Clear · 32 yrs held
Mailing address
411 TRANSPORTATION BLDG BLDG, SALEM, OR 97310-0001
Ownership since
1993
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 1, 1993
$2,400,000
Oregon State Of (dept Of Trans
Unknown
Grant Deed
—
—
—
Olinger Properties LLC
—
Deed Of Trust
related
$200,000 · Key Bank NA
—
—
Olinger Properties LLC
—
Deed Of Trust
related
$3,100,000 · Key Bank NA
—
—
Olinger Porperties LLC
—
Deed Of Trust
related
$3,420,000 · Key Bank NA
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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