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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Office Spaces
2722 33rd Ave Portland, OR 97212-3648
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US71-0265734
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1962
Total area
4,731 SF
Lot
0.27 ac (11,700 SF)
Zoning code
CO1
APN
1N1E25AC 08000
UPID
US71-0265734
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
-
Northwest Surrogacy Center LLC Family Planning Center
-
Bouneff, Chally & Koh, LLC - Attorneys at Law Law Firm
-
Intend Egg Donors Medical Clinic
-
AsiaWest Egg Donors, LLC Medical Clinic
-
AsiaWest Egg Donors Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.50M
Owner & transaction history
Michael A Redden · 19 yrs held
Michael A Redden
since 2007
7 recorded transactions
Zoning & alternative use
CO1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+6.0%
Medical building
$1.4M
+4.9%
Retail stores
$1.4M
+4.3%
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 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
COMMERCIAL (GENERAL)
$1,360,000
Current use
AUTO REPAIR, GARAGE
$1,445,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$1,430,000
Change: +5% · Conversion: Easy
RETAIL STORES
$1,420,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$1,365,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±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
$317 / 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
$17,209
Tax year 2023
Assessed value
$649,420
Assessed 2023
Previous assessed
$630,510
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$585,000
Improvement market value
$663,830
Total market value
$1,248,830
Applied tax rate
201.0000
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1962
Heating
NONE
Stories
2
Total area
4,731 SF
Lot
0.27 ac (11,700 SF)
Zoning code
CO1
APN
1N1E25AC 08000
UPID
US71-0265734
Jurisdiction
MULTNOMAH
Zoning & alternative use
CO1 · Portland, OR
Zoning CO1 · permitted uses
CO1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1962
Heating
NONE
Stories
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Michael A Redden
Individual
Mailing address
2722 NE 33RD AVE, PORTLAND, OR 97212-3648
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2007
—
Hodgson & Chally LLC
—
Trustees Deed
related
$522,800 · Bank Of The West
Mar 26, 2007
$657,500
Michael A Redden
Real Estate Firm Ltd
Warranty Deed
$688,129 · West Coast Bank
Mar 26, 2007
$1,125,000
Hodgson & Chally LLC
Timberlake Holdings Ltd
Warranty Deed
—
Mar 26, 2007
—
Timberlake Holdings Ltd
Real Estate Firm Ltd
Grant Deed
related
—
Mar 21, 2007
—
Real Estate Firm Ltd
Real Estate Firm Ltd
Quit Claim Deed
related
—
Mar 20, 2000
—
Timberlake Holdings Ltd
—
Grant Deed
related
$407,000 · Bank Of America
Apr 1, 1997
$129,950
Sandra L Humphrey
Martin,raymond J
Grant Deed
$103,960 · Phh Us Mortgage
Mar 27, 1997
$141,500
Dylan Moore
Real Estate Firm Ltd
Grant Deed
—
Jan 17, 1997
$115,000
Michael W Roydon
Real Estate Firm Ltd
Grant Deed
$92,000 · Seller
Jan 14, 1997
$132,500
Dale R Shaw
Real Estate Firm Ltd
Grant Deed
$102,000 · Oregon Central Cu
Nov 30, 1995
$440,000
Real Estate Firm Ltd
Mckee A Smith Estate
Grant Deed
$375,000 · Us National Bank Oregon
—
—
Hodgson & Chally LLC
—
Deed Of Trust
related
$653,500 · Bank Of The West
—
—
Michael A Redden
—
Deed Of Trust
related
$318,000 · Rural Housing & Community Dev
—
—
Hodgson & Chally LLC
—
Deed Of Trust
related
$541,000 · Rural Housing & Community Dev
—
—
Holdings Timberlake
—
Deed Of Trust
related
$81,250 · B Trust
—
—
Real Estate Firm Ltd
—
Deed Of Trust
related
$500,000 · Bank Of America
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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