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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Medical Office Space
522 Belmont St, Portland, OR 97214-2308
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US71-1803353
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1924
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EX
APN
1S1E02BB 07800
UPID
US71-1803353
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
-
Kelly Blodgett Dental Office
-
Blodgett Dental Care Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.63M
Owner & transaction history
Blodgett Properties LLC · 20 yrs held
Blodgett Properties LLC
since 2005
7 recorded transactions
Zoning & alternative use
EX · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+13.4%
Retail stores
$1.6M
+6.5%
Auto repair, garage
$1.5M
+1.1%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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
MEDICAL BUILDING
$1,510,000
Current use
RESTAURANT
$1,710,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$1,610,000
Change: +7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,525,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,480,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,450,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$1,445,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±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
$326 / 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
$21,266
Tax year 2023
Assessed value
$802,540
Assessed 2023
Previous assessed
$779,170
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$684,080
Improvement market value
$1,322,780
Total market value
$2,006,860
Applied tax rate
884.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1924
Heating
NONE
Stories
1
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EX
APN
1S1E02BB 07800
UPID
US71-1803353
Jurisdiction
MULTNOMAH
Zoning & alternative use
EX · Portland, OR
Zoning EX · permitted uses
EX · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1924
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Blodgett Properties LLC
Entity
Mailing address
3636 SW 57TH AVE, PORTLAND, OR 97221-2123
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2020
—
Blodgett Properties LLC
—
Deed
related
$1,050,000 · Columbia State Bank
Jul 28, 2005
$599,000
Blodgett Properties LLC
Bunker,kelsey L
Warranty Deed
$539,100 · Ironstone Bank
Dec 6, 2001
$225,000
Bruce Svela
Mazzocco,david E
Grant Deed
—
Dec 6, 2001
$505,000
Kelsey L Bunker
Svela,bruce
Grant Deed
$350,000 · Bank Of Portland
Mar 17, 1997
$225,000
Bruce Svela
Mazzocco,david E
Grant Deed
$220,000 · Seller
Aug 1, 1990
$200,000
David E Mazzocco
Unknown
Grant Deed
—
—
—
Blodgett Properties LLC
—
Deed Of Trust
related
$220,000 · Ironstone Bank
—
—
Kelsey Bunker
—
Deed Of Trust
related
$380,000 · Pinnacle 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.
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