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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Investment properties
5505 28th Ave Portland, OR 97202-4511
Trust Owned
9-yr Hold
Free & Clear
Property ID
US71-0899570
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1974
Total area
2,000 SF
Lot
0.88 ac (38,333 SF)
Zoning code
R2
APN
1S1E13CB 01100
UPID
US71-0899570
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
-
Carte Diem Food Market Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$799k
Blend (final)
Blend
$800k
Owner & transaction history
Okamoto,gary N & Ryoko Trust · 9 yrs held
Okamoto,gary N & Ryoko Trust
since 2017
3 recorded transactions
Zoning & alternative use
R2 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$670,000
+14.8%
Auto repair, garage
$610,000
+5.0%
Medical building
$605,000
+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 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
COMMERCIAL (GENERAL)
$580,000
Current use
RETAIL STORES
$670,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$580,000
Change: -1% · Conversion: Easy
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
$400 / 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
$12,668
Tax year 2023
Assessed value
$478,070
Assessed 2023
Previous assessed
$464,150
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,394,300
Improvement market value
$346,810
Total market value
$1,741,110
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
2,000 SF
Lot
0.88 ac (38,333 SF)
Zoning code
R2
APN
1S1E13CB 01100
UPID
US71-0899570
Jurisdiction
MULTNOMAH
Zoning & alternative use
R2 · Portland, OR
Zoning R2 · permitted uses
R2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$580,000
RETAIL STORES
Est. value
$670,000
AUTO REPAIR, GARAGE
Est. value
$610,000
MEDICAL BUILDING
Est. value
$605,000
OFFICE BUILDING
Est. value
$580,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1974
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Okamoto,gary N & Ryoko Trust
Trust
Free & Clear · 9 yrs held
Mailing address
6753 S WALKER ML DR, SALT LAKE CITY, UT 84121-3585
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2017
—
Okamoto,gary N & Ryoko Trust
Okomoto,gary N
Quit Claim Deed
—
Sep 21, 2010
—
Okamoto Family Education Trust
Okamoto Misuyo
Quit Claim Deed
related
—
Nov 10, 2008
—
Okamoto George T Trust
Okamoto George T Trust
Quit Claim 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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