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Property profile & analytics
OFF-MARKET
Estimated value
$2,550,000
Sports & entertainment properties
2885 Sandy Blvd Portland, OR 97232-2454
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-1902489
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1960
Total area
7,473 SF
Lot
0.2 ac (8,674 SF)
Zoning code
EX
APN
1N1E36BD 13500
UPID
US71-1902489
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
-
Decorp Mechanical & Coatings, Inc General Contractor
-
Steam Portland Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
David Rh Layzell · 3 yrs held
David Rh Layzell
since 2022
Last sale
$2.6M
4 recorded transactions
Zoning & alternative use
EX · 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
$2,240,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,560,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,415,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,280,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$2,255,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$2,245,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,160,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.55M
Range $2.30M – $2.81M · ±10% · vs last sale $2.55M (Oct 11 2022)
Last sale anchor
$2.55M
Oct 11 2022
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
$341 / 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
$22,280
Tax year 2023
Assessed value
$840,810
Assessed 2023
Previous assessed
$816,330
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$728,580
Improvement market value
$1,871,130
Total market value
$2,599,710
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1960
Heating
NONE
Stories
2
Total area
7,473 SF
Lot
0.2 ac (8,674 SF)
Zoning code
EX
APN
1N1E36BD 13500
UPID
US71-1902489
Jurisdiction
MULTNOMAH
Zoning & alternative use
EX · Portland, OR
Zoning EX · permitted uses
EX · 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
RESTAURANT
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
RETAIL STORES
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.2M
RESTAURANT
COMMERCIAL (GENERAL)
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
1960
Heating
NONE
Stories
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
David Rh Layzell
Individual
Mailing address
8385 SW WOODSIDE DR, PORTLAND, OR 97225-1735
Ownership since
2022
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
Oct 11, 2022
—
David Rh Layzell
Deirdre C Layzell
Intrafamily Transfer
related
$65,000 · Consolidated Community Cu
Jul 21, 2016
$2,550,000
Deirdre C Layzell
Abba Partners Corp
Warranty Deed
—
Apr 22, 2002
$480,000
Abba Partners Corp
Paetzhold Trust
Grant Deed
$408,000 · Paetzhold Trust
Apr 3, 2001
—
Paetzhold,tr
—
Trustees Deed
related
—
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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