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Property profile & analytics
OFF-MARKET
Estimated value
$5,335,000
Warehouses
505 13th Ave Cornelius, OR 97113-9303
Individually Owned
23-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-1839123
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Total area
44,400 SF
Lot
2.13 ac (92,783 SF)
Zoning code
M1
APN
1N333DA-02100
UPID
US71-1839123
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
$5.33M
Blend (final)
Blend
$5.34M
Owner & transaction history
Chad E Davis · 23 yrs held
Chad E Davis
since 2002
1 recorded transaction
Zoning & alternative use
M1 · Cornelius, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
IGHWAY COMMERCIAL ZONE (C-2) (§ 18.45.010 - § 18.45.070) Chapter 18.50 CORE COMMERCIAL-EMPLOYMENT DISTRICT (CE) Chapter 18.54 LIGHT INDUSTRIAL ZONE (LI) (§ 18.54.010 - § 18.54.080) Chapter 18.55 GENERAL INDUSTRIAL ZONE (M-1) (§ 18.55.010 - § 18.55.080) Chapter 18.60 CENTRAL MIXED USE ZONE (CMU) (§ 18.60.010 - § 18.60.080) Chapter 18.65 CORRIDOR COMMERCIAL (C…
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
120.19 ac
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 Cornelius submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornelius 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
$7,740,000
Current use
AUTO REPAIR, GARAGE
$7,210,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$5.34M
Range $4.80M – $5.87M · ±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
$120 / 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
$32,724
Tax year 2023
Assessed value
$1,887,560
Assessed 2023
Previous assessed
$1,832,590
+3.0% YoY
Effective rate
1.73%
On assessed value
Land market value
$603,070
Improvement market value
$2,189,060
Total market value
$2,792,130
Applied tax rate
15.0000
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
Heating
NONE
Total area
44,400 SF
Lot
2.13 ac (92,783 SF)
Zoning code
M1
APN
1N333DA-02100
UPID
US71-1839123
Jurisdiction
WASHINGTON
Zoning & alternative use
M1 · Cornelius, ORZoning M1 · permitted uses
M1 · Cornelius, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
IGHWAY COMMERCIAL ZONE (C-2) (§ 18.45.010 - § 18.45.070) Chapter 18.50 CORE COMMERCIAL-EMPLOYMENT DISTRICT (CE) Chapter 18.54 LIGHT INDUSTRIAL ZONE (LI) (§ 18.54.010 - § 18.54.080) Chapter 18.55 GENERAL INDUSTRIAL ZONE (M-1) (§ 18.55.010 - § 18.55.080) Chapter 18.60 CENTRAL MIXED USE ZONE (CMU) (§ 18.60.010 - § 18.60.080) Chapter 18.65 CORRIDOR COMMERCIAL (CC) (§ 18.65.010 - § 18.65.080) Chapter 18.70 CORE RESIDENTIAL ZONE (CR) (§ 18.70.01
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
120.19 ac
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$7.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
Heating
NONE
Lot
2.13 ac
Current owner
From public records · entity-resolved
Chad E Davis
Individual
Free & Clear · 23 yrs held
Mailing address
36905 SW GODDARD RD, CORNELIUS, OR 97113-6222
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2002
$50,000
Chad E Davis
Davis,claud E & Virginia R
Grant 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.
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