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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Office Spaces
456 Monroe Ave Corvallis, OR 97333-4781
Entity Owned
2-yr Hold
Free & Clear
Property ID
US71-0451409
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1950
Total area
12,565 SF
Lot
0.35 ac (15,246 SF)
Zoning code
CMU-3
APN
11535CD04900
UPID
US71-0451409
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
-
Cheever Mortgage Loan Service Bank
-
Corvallis City Attorney Law Firm
-
Law Offices of Yema Measho, LLC Law Firm
-
Coulombe David E Law Firm
-
Family Resource Home Care Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
456 Sw Monroe LLC · 2 yrs held
456 Sw Monroe LLC
since 2024
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
CMU-3 · Corvallis, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This zone implements the Central Business Comprehensive Plan designation, and is intended to guide the development of the Central Business District, as envisioned by the Comprehensive Plan
Zone name
Commercial Mixed Use 3
General category
MIXED_USE
Zone area
76.49 ac
Source
Realmo
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 Corvallis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corvallis 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
$1,280,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $1.25M (May 31 2022)
Last sale anchor
$1.25M
May 31 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
$100 / 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
$20,885
Tax year 2023
Assessed value
$1,423,262
Assessed 2023
Previous assessed
$1,683,673
-15.5% YoY
Effective rate
1.47%
On assessed value
Land market value
$667,975
Improvement market value
$755,287
Total market value
$1,423,262
Applied tax rate
932.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1950
Heating
NONE
Stories
1
Total area
12,565 SF
Lot
0.35 ac (15,246 SF)
Zoning code
CMU-3
APN
11535CD04900
UPID
US71-0451409
Jurisdiction
BENTON
Zoning & alternative use
CMU-3 · Corvallis, ORZoning CMU-3 · permitted uses
CMU-3 · Corvallis, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This zone implements the Central Business Comprehensive Plan designation, and is intended to guide the development of the Central Business District, as envisioned by the Comprehensive Plan
Zone name
Commercial Mixed Use 3
General category
MIXED_USE
Zone area
76.49 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1950
Heating
NONE
Stories
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
456 Sw Monroe LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3155 SW LONG AVE, CORVALLIS, OR 97333-1549
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
—
456 Sw Monroe LLC
Lee A Eckroth
Warranty Deed
—
May 31, 2022
$1,250,000
Lee A Eckroth
Donna Cruse Gemperle
Warranty Deed
$1,000,000 · Oregon State Cu
Dec 10, 2021
—
Donna Cruse Gemperle
Michael Gemperle
Intrafamily Transfer
related
—
May 17, 2018
—
Braun Family Trust
Braun,ray F & Joann M
Quit Claim Deed
related
—
Feb 13, 2006
—
Ray F Braun
Braun,ray F
Quit Claim Deed
related
—
Nov 20, 2003
$300,000
Michael Gemperle
Eickelberg,tr
Grant Deed
—
—
—
James Eickelberg
—
Deed Of Trust
related
$200,000 · 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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