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Property profile & analytics
OFF-MARKET
Estimated value
$3,090,000
Warehouses
2904 1st Ave Portland, OR 97201-4706
Entity Owned
7-yr Hold
Free & Clear
Property ID
US71-1801040
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1952
Total area
10,064 SF
Lot
0.66 ac (28,661 SF)
Zoning code
CS
APN
1S1E10BB 10400
UPID
US71-1801040
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
-
Martin W Treece Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$3.09M
Owner & transaction history
Thidwick Management Co · 7 yrs held
Thidwick Management Co
since 2018
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+67.8%
Auto repair, garage
$3.1M
+49.6%
Medical building
$3.0M
+48.0%
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
WAREHOUSE, STORAGE
$2,055,000
Current use
RESTAURANT
$3,445,000
Change: +68% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,075,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$3,040,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$3,020,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$2,910,000
Change: +42% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,675,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$3.09M
Range $2.78M – $3.40M · ±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
$307 / 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
$23,752
Tax year 2023
Assessed value
$897,200
Assessed 2023
Previous assessed
$871,070
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,844,570
Improvement market value
$437,890
Total market value
$3,282,460
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1952
Heating
NONE
Stories
1
Total area
10,064 SF
Lot
0.66 ac (28,661 SF)
Zoning code
CS
APN
1S1E10BB 10400
UPID
US71-1801040
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · 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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
RESTAURANT
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1952
Heating
NONE
Stories
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Thidwick Management Co
Entity
Free & Clear · 7 yrs held
Mailing address
2905 SW 1ST AVE, PORTLAND, OR 97201-4705
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2018
$1,000,000
Thidwick Management Co
Double Black Diamond LLC
Warranty Deed
—
Feb 6, 2018
$1,000,000
Double Black Diamond LLC
Thidwick Management Co
Warranty Deed
—
Jun 23, 2011
$182,248
Thidwick Management Co
Roseyln Apartments LLC
Warranty Deed
—
Jun 23, 2011
$561,748
Thidwick Management Co
Quimby Street Apartments LLC
Warranty Deed
—
Jun 23, 2011
$816,089
Thidwick Management Co
Upshur House LLC
Warranty Deed
—
Jul 27, 2009
$816,089
Upshur House LLC
Thidwick Management
Warranty Deed
—
Jul 27, 2009
$182,248
Roselyn Apartments LLC
Thidwick Management
Warranty Deed
—
Jul 27, 2009
$561,748
Quimby Street Apartments LLC
Thidwick Management
Warranty Deed
—
Jun 20, 2008
—
Thidwick Management Co
Double Black Diamond LLC
Warranty Deed
related
—
Jan 30, 2007
$1,875,000
Double Black Diamond LLC
Urban Ethel L Living Trust
Warranty Deed
—
Nov 7, 2005
—
Gaussoin Shirley M Trust
Gaussoin,shirley M
Quit Claim Deed
related
$460,000 · Us Bank NA
Nov 7, 2005
$450,000
Urban Ethel L Trust
Urban Fred K & Marjorie O
Grant Deed
related
—
—
—
Urban Trust
—
Deed Of Trust
related
$35,429 · Individual
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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