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Property profile & analytics
OFF-MARKET
Retail space
281 2nd St Independence, OR 97351-2032
Entity Owned
15-yr Hold
Free & Clear
Property ID
US71-0271257
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Total area
6,575 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CR
APN
08428-BA-03401
UPID
US71-0271257
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
-
Independence Heritage Museum Museum Tourist Attraction
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Second St Mall LLC · 15 yrs held
Second St Mall LLC
since 2011
5 recorded transactions
Zoning & alternative use
CR · Independence, OR
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 Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$182,450
Assessed 2023
Previous assessed
$177,140
+3.0% YoY
Assessed land
$39,560
Assessed improvement
$142,890
Land market value
$158,050
Improvement market value
$444,100
Total market value
$602,150
Applied tax rate
1,344.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1945
Heating
NONE
Total area
6,575 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CR
APN
08428-BA-03401
UPID
US71-0271257
Jurisdiction
POLK
Zoning & alternative use
CR · Independence, ORZoning CR · permitted uses
CR · Independence, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CITY OF INDEPENDENCE
Building & site characteristics
From public records
Year built
1945
Heating
NONE
Lot
0.15 ac
Current owner
From public records · entity-resolved
Second St Mall LLC
Entity
Free & Clear · 15 yrs held
Mailing address
PO BOX 7TH 7, INDEPENDENCE, OR 97351-0007
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2011
—
Second St Mall LLC
Hyre,philip A
Warranty Deed
—
Apr 25, 2011
$299,900
Philip A Hyre
Wittenberg,dennis E & Marjorie L
Warranty Deed
$291,350 · Edwin C & Marjorie L Wittenberg
Feb 20, 2004
$175,000
Dennis E Wittenberg
Muis,jacquelyn J
Grant Deed
—
Dec 28, 2001
$110,000
Jacquelyn J Muis
Ballard,robert
Grant Deed
$85,000 · Robert Ballard
Nov 15, 1991
$105,000
Ronald L Hagedorn
Unknown
Grant 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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