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Property profile & analytics
FOR LEASE
Commercial real estate
439 NE 223 Ave Gresham, OR 97030
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0704120
For Lease
1 / 2
$5,250,000
439 NE 223 Ave, Gresham, OR 97030
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
2008
Total area
15,435 SF
APN
1N3E34C 90002
UPID
US71-0704120
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.25M
Blend (final)
Blend
$5.25M
Owner & transaction history
Seven Hills Properties 17 LLC · 9 yrs held
Seven Hills Properties 17 LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.5M
+44.5%
Medical building
$4.7M
+22.1%
Auto repair, garage
$4.6M
+19.8%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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)
$3,820,000
Current use
RESTAURANT
$5,520,000
Change: +45% · Conversion: Difficult
MEDICAL BUILDING
$4,665,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,575,000
Change: +20% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,065,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$3,970,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$3,220,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.25M
Range $4.73M – $5.78M · ±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
$340 / 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
$64,520
Tax year 2023
Assessed value
$3,426,840
Assessed 2023
Previous assessed
$3,327,030
+3.0% YoY
Effective rate
1.88%
On assessed value
Improvement market value
$5,707,260
Total market value
$5,707,260
Applied tax rate
137.0000
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
For Lease
Year built
2008
Heating
NONE
Stories
1
Total area
15,435 SF
APN
1N3E34C 90002
UPID
US71-0704120
Jurisdiction
MULTNOMAH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.8M
RESTAURANT
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
OFFICE BUILDING
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2008
Heating
NONE
Stories
1
Current owner
From public records · entity-resolved
Seven Hills Properties 17 LLC
Entity
Mailing address
88 PERRY ST, SAN FRANCISCO, CA 94107-1392
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
May 8, 2017
—
Seven Hills Properties 17 LLC
—
Loan Modification
related
$9,228,000 · Umpqua Bk
Mar 21, 2017
—
Seven Hills Properties 17 LLC
—
Loan Modification
related
$9,228,000 · Umpqua Bk
Oct 18, 2012
—
Seven Hills Properties 17 LLC
—
Grant Deed
related
$9,228,000 · Umpqua Bk
Nov 1, 2011
—
Seven Hills Properties 17 LLC
—
Deed Of Trust
related
$9,663,500 · Us Bank NA
May 12, 2011
—
Seven Hills Properties 17 LLC
—
Deed Of Trust
related
$9,663,500 · Us Bank NA
—
—
Seven Hills Properties 17 LLC
—
Deed Of Trust
related
$615,000 · Umpqua 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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