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Property profile & analytics
FOR LEASE
Medical Office Space
2525 Northwest Lovejoy St Portland, OR 97210
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US71-0549872
For Lease
1 / 17
$33 SF/Yr
2525 Northwest Lovejoy St, Portland, OR 97210
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1965
Total area
88,506 SF
Lot
0.63 ac (27,500 SF)
Zoning code
RH
APN
1N1E32AD 00200
UPID
US71-0549872
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
-
Dr. Laura A. Korman, MD Physician Medical Clinic
-
Harpal Sandhu Ophthalmologist
-
Dr. Michael Lee Ophthalmologist
-
Apurva Patel Ophthalmologist
-
Paul Tlucek Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.69M
Blend (final)
Blend
$12.69M
Owner & transaction history
Lovejoy Medical LLC · 10 yrs held
Lovejoy Medical LLC
since 2016
6 recorded transactions
Zoning & alternative use
RH · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$12.69M
Range $11.42M – $13.95M · ±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
$143 / 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
$98,423
Tax year 2023
Assessed value
$3,717,780
Assessed 2023
Previous assessed
$3,609,504
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$5,500,000
Improvement market value
$8,371,860
Total market value
$13,871,860
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1965
Heating
NONE
Stories
2
Total area
88,506 SF
Lot
0.63 ac (27,500 SF)
Zoning code
RH
APN
1N1E32AD 00200
UPID
US71-0549872
Jurisdiction
MULTNOMAH
Zoning & alternative use
RH · Portland, OR
Zoning RH · permitted uses
RH · 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.
Building & site characteristics
From public records
Year built
1965
Heating
NONE
Stories
2
Lot
0.63 ac
Current owner
From public records · entity-resolved
Lovejoy Medical LLC
Entity
Mailing address
1615 SE 3RD AVE STE #100, PORTLAND, OR 97214-2283
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2017
—
Lovejoy Medical LLC
—
Deed
related
$9,000,000 · Riverview Cmnty Bk
Jul 19, 2016
—
Lovejoy Medical LLC
—
Deed
related
$7,500,000 · Riverview Community Bank
Jul 15, 2016
$10,000,000
Lovejoy Medical LLC
Ifits Equity LLC
Warranty Deed
$7,500,000 · Riverview Community Bank
Jun 29, 2016
$4,600,000
Ifits Equity LLC
25th & Lovejoy LLC
Warranty Deed
$3,450,000 · Wells Fargo Bank NA
Jun 10, 2005
—
25th & Lovejoy LLC
Sheffels,l J
Grant Deed
$1,600,000 · Ica Mortgage Capital LLC
—
—
Lovejoy Medical LLC
—
Loan Modification
related
$9,000,000 · Riverview Cmnty Bk
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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