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Property profile & analytics
OFF-MARKET
Estimated value
$18,370,000
Warehouses
5337 Marine Dr 5479 Portland, OR 97203-6435
Entity Owned
10-yr Hold
Free & Clear
Property ID
US71-0898384
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Total area
59,528 SF
Lot
6.82 ac (297,079 SF)
Zoning code
IHH
APN
2N1E32B 01400
UPID
US71-0898384
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
$18.37M
Blend (final)
Blend
$18.37M
Owner & transaction history
Western C Reit Or LLC · 10 yrs held
Western C Reit Or LLC
since 2015
7 recorded transactions
Zoning & alternative use
IHH · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$20.4M
+67.8%
Auto repair, garage
$18.2M
+49.6%
Medical building
$18.0M
+48.0%
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
WAREHOUSE, STORAGE
$12,145,000
Current use
RESTAURANT
$20,385,000
Change: +68% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,175,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$17,980,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$17,205,000
Change: +42% · Conversion: Difficult
COMMERCIAL (GENERAL)
$17,145,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$15,825,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$18.37M
Range $16.53M – $20.21M · ±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
$309 / 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
$164,652
Tax year 2023
Assessed value
$6,213,570
Assessed 2023
Previous assessed
$6,213,570
+0.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,554,950
Improvement market value
$18,561,780
Total market value
$21,116,730
Applied tax rate
201.0000
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
Year built
1981
Heating
NONE
Buildings
2
Stories
1
Total area
59,528 SF
Lot
6.82 ac (297,079 SF)
Zoning code
IHH
APN
2N1E32B 01400
UPID
US71-0898384
Jurisdiction
MULTNOMAH
Zoning & alternative use
IHH · Portland, OR
Zoning IHH · permitted uses
IHH · 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
WAREHOUSE, STORAGE Current
Est. value
$12.1M
RESTAURANT
Est. value
$20.4M
AUTO REPAIR, GARAGE
Est. value
$18.2M
MEDICAL BUILDING
Est. value
$18.0M
OFFICE BUILDING
Est. value
$17.2M
COMMERCIAL (GENERAL)
Est. value
$17.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.8M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1981
Heating
NONE
Stories
1
Buildings
2
Lot
6.82 ac
Current owner
From public records · entity-resolved
Western C Reit Or LLC
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 460169, HOUSTON, TX 77056-8169
Ownership since
2015
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
Jan 16, 2026
—
Columbia River Owner LLC
—
Deed
related
$52,780,000 · Hartford Fire Insurance Company
Oct 1, 2019
—
Western C Reit Or LLC
—
Deed
related
—
Sep 6, 2018
—
Western C Reit Or LLC
—
Grant Deed
related
$180,000,000 · Miscellaneous Ins Co
Nov 12, 2015
—
Western C Reit Or LLC
Iit Northgate Ic LLC
Special Warranty Deed
—
Feb 13, 2012
$6,880,000
Iit Northgate Ic LLC
Prologis
Grant Deed
$6,880,000 · Key Bank & Trust
Mar 7, 1994
—
J & F Investments Oregon Ltd
—
Grant Deed
related
$425,000 · Us National Bank Oregon
—
—
Western C Reit Or LLC
—
Deed Of Trust
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.
Try Rey
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