Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,730,000
Retail space
451 1st Ave Ste 700 Hillsboro, OR 97123-3959
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0560322
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1980
Total area
9,115 SF
Lot
0.64 ac (27,878 SF)
Zoning code
SCC-DT
APN
1S206BB-04300
UPID
US71-0560322
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
$1.73M
Blend (final)
Blend
$1.73M
Owner & transaction history
Wokke Properties LLC · 6 yrs held
Wokke Properties LLC
since 2019
5 recorded transactions
Zoning & alternative use
SCC-DT · Hillsboro, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+26.8%
Commercial (general)
$2.3M
+7.0%
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 Hillsboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hillsboro 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
RETAIL STORES
$2,175,000
Current use
RESTAURANT
$2,760,000
Change: +27% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,330,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,030,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.73M
Range $1.56M – $1.90M · ±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
$190 / 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
$15,443
Tax year 2023
Assessed value
$916,620
Assessed 2023
Previous assessed
$889,930
+3.0% YoY
Effective rate
1.68%
On assessed value
Land market value
$335,710
Improvement market value
$2,039,200
Total market value
$2,374,910
Applied tax rate
7.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1980
Heating
NONE
Total area
9,115 SF
Lot
0.64 ac (27,878 SF)
Zoning code
SCC-DT
APN
1S206BB-04300
UPID
US71-0560322
Jurisdiction
WASHINGTON
Zoning & alternative use
SCC-DT · Hillsboro, OR
Zoning SCC-DT · permitted uses
SCC-DT · Hillsboro, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hillsboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
RESTAURANT
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1980
Heating
NONE
Lot
0.64 ac
Current owner
From public records · entity-resolved
Wokke Properties LLC
Entity
Free & Clear · 6 yrs held
Mailing address
16869 SW 65TH AVE #106, LAKE OSWEGO, OR 97035-7865
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Jul 30, 2019
$1,150,000
Wokke Properties LLC
Yi,sun N
Warranty Deed
—
Oct 30, 2015
$1,000,000
Sun N Yi
Pham,vincent H
Dual Purpose Document
related
$1,000,000 · Vincent H Pham
Mar 10, 2015
—
Vincent H Pham
Rodriguez Alberto C
Quit Claim Deed
related
—
May 21, 2007
$1,200,000
Alberto C Rodriguez
Pham,vincent
Warranty Deed
$10,170,000 · Vincent Pham
May 21, 2007
—
Vincent Pham
Pham,hao D
Quit Claim 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.
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?”
You own 451 1st Ave Ste, Unit 700?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
