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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Office Spaces
505 2nd St Gresham, OR 97030-7511
Individually Owned
8-yr Hold
Free & Clear
Property ID
US71-1874443
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1957
Total area
4,010 SF
Lot
0.25 ac (11,000 SF)
Zoning code
GC
APN
1S3E10BD 02900
UPID
US71-1874443
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
$800k
Blend (final)
Blend
$800k
Owner & transaction history
William G Leslie · 8 yrs held
William G Leslie
since 2018
4 recorded transactions
Zoning & alternative use
GC · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+22.1%
Auto repair, garage
$1.2M
+19.8%
Office building
$1.0M
+3.9%
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)
$990,000
Current use
MEDICAL BUILDING
$1,210,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,190,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$1,030,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$835,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$200 / 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
$8,747
Tax year 2023
Assessed value
$464,580
Assessed 2023
Previous assessed
$451,050
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$143,850
Improvement market value
$505,170
Total market value
$649,020
Applied tax rate
26.0000
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
1957
Heating
NONE
Stories
1
Total area
4,010 SF
Lot
0.25 ac (11,000 SF)
Zoning code
GC
APN
1S3E10BD 02900
UPID
US71-1874443
Jurisdiction
MULTNOMAH
Zoning & alternative use
GC · Gresham, OR
Zoning GC · permitted uses
GC · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$990,000
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$835,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1957
Heating
NONE
Stories
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
William G Leslie
Individual
Free & Clear · 8 yrs held
Mailing address
37625 SE KELSO RD, SANDY, OR 97055-6503
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2018
—
William G Leslie
505 Ne 2nd Street LLC
Quit Claim Deed
related
—
Jun 20, 2017
$550,000
505 Ne 2nd Street LLC
Cox,kent W & Sharon M
Warranty Deed
$400,000 · Ddp Properties LLC
Nov 17, 2006
$178,000
Kent W Cox
Mckeel,michael L & Diane
Grant Deed
—
Nov 25, 2005
$210,000
Michael L Mckeel
Kropp Ray A Trust
Warranty Deed
—
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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