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Property profile & analytics
OFF-MARKET
Estimated value
$2,795,000
Retail properties & Spaces
6116 M L King Blvd, Portland, OR 97211-3159
Entity Owned
15-yr Hold
Free & Clear
Property ID
US71-0265358
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2000
Total area
15,735 SF
Lot
0.6 ac (26,105 SF)
Zoning code
EXDH
APN
1N1E14CB 10300
UPID
US71-0265358
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
$2.79M
Blend (final)
Blend
$2.80M
Owner & transaction history
Walsanprop LLC · 15 yrs held
Walsanprop LLC
since 2010
4 recorded transactions
Zoning & alternative use
EXDH · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
OFFICE BUILDING
$4,550,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,530,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,185,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.80M
Range $2.52M – $3.07M · ±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
$178 / 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
$13,481
Tax year 2023
Assessed value
$508,750
Assessed 2023
Previous assessed
$493,940
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,411,990
Total market value
$2,411,990
Applied tax rate
710.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Total area
15,735 SF
Lot
0.6 ac (26,105 SF)
Zoning code
EXDH
APN
1N1E14CB 10300
UPID
US71-0265358
Jurisdiction
MULTNOMAH
Zoning & alternative use
EXDH · Portland, OR
Zoning EXDH · permitted uses
EXDH · 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
OFFICE BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
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
2000
Heating
NONE
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Walsanprop LLC
Entity
Free & Clear · 15 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
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
Oct 22, 2010
$384,900
Walsanprop LLC
Minnetonka Capital Invs II LLC
Grant Deed
—
Aug 7, 2002
$5,294,110
Minnetonka Capital Inv II LLC
Walgreen Co
Grant Deed
related
$61,297,561 · Wells Fargo Bank Nw NA Trustee
Jul 11, 2000
$1,000,000
Walgreen Co
Rolison,james G
Grant Deed
—
Sep 29, 1995
$185,370
James A Rolison
Kunze,robert E & Shirley A
Grant 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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