Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Warehouses
5150 Cornelius Pass Rd Cornelius, OR 97124-9463
Entity Owned
29-yr Hold
~
Est. High Equity
Property ID
US71-0628665
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1997
Total area
2,524 SF
Lot
3.16 ac (137,650 SF)
Zoning code
I-P
APN
1N223BD-00300
UPID
US71-0628665
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$625k
Owner & transaction history
Real Estate Partners I LLC · 29 yrs held
Real Estate Partners I LLC
since 1997
6 recorded transactions
Zoning & alternative use
I-P · Cornelius, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$805,000
+78.4%
Commercial (general)
$800,000
+77.8%
Retail stores
$605,000
+33.6%
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
$450,000
Current use
MEDICAL BUILDING
$805,000
Change: +78% · Conversion: Difficult
COMMERCIAL (GENERAL)
$800,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$605,000
Change: +34% · Conversion: Moderate
Blend value · Realmo final
$625k
Range $563k – $688k · ±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
$248 / 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
$66,167
Tax year 2023
Assessed value
$3,927,410
Assessed 2023
Previous assessed
$3,813,020
+3.0% YoY
Effective rate
1.68%
On assessed value
Land market value
$2,157,660
Improvement market value
$5,795,100
Total market value
$7,952,760
Applied tax rate
1.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
NONE
Total area
2,524 SF
Lot
3.16 ac (137,650 SF)
Zoning code
I-P
APN
1N223BD-00300
UPID
US71-0628665
Jurisdiction
WASHINGTON
Zoning & alternative use
I-P · Cornelius, ORZoning I-P · permitted uses
I-P · Cornelius, OR
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
WAREHOUSE, STORAGE Current
Est. value
$450,000
MEDICAL BUILDING
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$800,000
RETAIL STORES
Est. value
$605,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1997
Heating
NONE
Lot
3.16 ac
Current owner
From public records · entity-resolved
Real Estate Partners I LLC
Entity
Mailing address
PO BOX 2879, VANCOUVER, WA 98668-2879
Ownership since
1997
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
Nov 16, 2023
—
Real Estate Partners I LLC
—
Deed
related
$1,130,000 · Umpqua Bank
Jan 3, 1997
—
Real Estate Partners I LLC
Real Estate Partners I
Quit Claim Deed
related
$1,634,000 · Commercial Bank
—
—
Real Estate Partners I LLC
—
Loan Modification
related
$1,975,000 · Columbia State Bank
—
—
Real Estate Partners I LLC
—
Deed Of Trust
related
$550,000 · West Coast Bank
—
—
Real Estate Partners I LLC
—
Deed Of Trust
related
$700,000 · West Coast Bank
—
—
Real Estate Partners I LLC
—
Deed Of Trust
related
$2,500,000 · West Coast 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?”
You own 5150 Cornelius Pass Rd?
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.
