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Property profile & analytics
OFF-MARKET
Estimated value
$3,625,000
Investment properties
407 17th Ave Portland, OR 97209-2247
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0969248
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1950
Total area
14,186 SF
Lot
0.46 ac (20,000 SF)
Zoning code
EXD
APN
1N1E33DB 00600
UPID
US71-0969248
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
-
Vena Cava Skin Therapy Spa & Massage Center Skin Care Clinic
-
Fish Sauce Restaurant
-
Yedidya Tabanpour Alternative Medicine Practice Acupuncture
-
Inner Sanctuary Wellness Gym & Fitness Center Alternative Medicine Practice
-
Shunya Ayurveda Gym & Fitness Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.95M
Comparable Approach
Comparable
$3.43M
Blend (final)
Blend
$3.63M
Owner & transaction history
Nw 17th LLC · 5 yrs held
Nw 17th LLC
since 2021
Last sale
$3.8M
6 recorded transactions
Zoning & alternative use
EXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+3.0%
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
$3,775,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,190,000
6.5%
$2,945,000
7%
$2,735,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,720,000
Current use
RESTAURANT
$4,860,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,330,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$4,285,000
Change: -9% · Conversion: Easy
RETAIL STORES
$4,260,000
Change: -10% · Conversion: Easy
OFFICE BUILDING
$4,100,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$3.63M
Range $3.26M – $3.99M · ±10% · vs last sale $3.75M (Jun 15 2021)
Last sale anchor
$3.75M
Jun 15 2021
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
$256 / 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
$52,176
Tax year 2023
Assessed value
$1,970,870
Assessed 2023
Previous assessed
$1,913,470
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,355,120
Improvement market value
$2,606,410
Total market value
$4,961,530
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1950
Heating
NONE
Stories
2
Total area
14,186 SF
Lot
0.46 ac (20,000 SF)
Zoning code
EXD
APN
1N1E33DB 00600
UPID
US71-0969248
Jurisdiction
MULTNOMAH
Zoning & alternative use
EXD · Portland, OR
Zoning EXD · permitted uses
EXD · 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
$4.7M
RESTAURANT
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$4.3M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING
Est. value
$4.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1950
Heating
NONE
Stories
2
Lot
0.46 ac
Current owner
From public records · entity-resolved
Nw 17th LLC
Entity
Mailing address
8625 EVERGREEN WAY STE #200, EVERETT, WA 98208-2649
Ownership since
2021
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 10, 2022
—
Hw 17th LLC
—
Deed
related
$2,025,000 · Washington Trust Bank
Jun 15, 2021
$3,750,000
Nw 17th LLC
Gordon A Harris
Warranty Deed
—
Sep 18, 1995
$610,000
S & G Properties Northwest LLC
Harris,gordon
Grant Deed
—
Jul 1, 1991
$506,327
D S D Properties
Unknown
Grant Deed
—
—
—
S & G Properties Northwest LLC
—
Deed Of Trust
related
$780,000 · Standard Insurance Co
—
—
S & G Properties Northwest LLC
—
Deed Of Trust
related
$1,000,000 · American Pacific Bank
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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