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Property profile & analytics
OFF-MARKET
Estimated value
$2,895,000
Office buildings
641 Umatilla Ave Redmond, OR 97756-7124
Entity Owned
10-yr Hold
Free & Clear
Property ID
US71-1778036
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
12,090 SF
Lot
0.55 ac (23,958 SF)
APN
151321 D0 00330
UPID
US71-1778036
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
$2.90M
Blend (final)
Blend
$2.90M
Owner & transaction history
Fortuna Land & Trade LLC · 10 yrs held
Fortuna Land & Trade LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.6M
+39.8%
Apartment house (5+ units)
$4.6M
+39.6%
Commercial (general)
$4.5M
+36.9%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$3,305,000
Current use
AUTO REPAIR, GARAGE
$4,620,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,615,000
Change: +40% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,525,000
Change: +37% · Conversion: Easy
RESTAURANT
$4,480,000
Change: +36% · Conversion: Moderate
RETAIL STORES
$3,950,000
Change: +20% · Conversion: Moderate
MEDICAL BUILDING
$3,860,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$2.90M
Range $2.61M – $3.18M · ±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
$239 / 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
Assessed value
$1,192,280
Assessed 2023
Previous assessed
$1,123,850
+6.1% YoY
Land market value
$205,030
Improvement market value
$2,347,630
Total market value
$2,552,660
Applied tax rate
2,001.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Heating
NONE
Total area
12,090 SF
Lot
0.55 ac (23,958 SF)
APN
151321 D0 00330
UPID
US71-1778036
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
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
OFFICE BUILDING Current
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RESTAURANT
Est. value
$4.5M
RETAIL STORES
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL 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
2007
Heating
NONE
Lot
0.55 ac
Current owner
From public records · entity-resolved
Fortuna Land & Trade LLC
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 5999, BEND, OR 97708-5999
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2016
—
Fortuna Land & Trade LLC
Fortuna Land & Trade LLC
Quit Claim Deed
related
—
Jan 15, 2016
$1,200,000
Diocese Of Baker INC
Fortuna Land & Trade LLC
Grant Deed
—
Jun 6, 2008
$1,705,936
Fortuna Land & Trade LLC
Williams,david R
Warranty Deed
$1,700,000 · Bank Of America
Mar 20, 2008
—
David R Williams
Hwdd LLC
Grant Deed
—
May 25, 2007
—
Hwdd LLC
—
Grant Deed
related
$1,228,000 · Umpqua Bank
Feb 27, 2007
$240,000
Hwdd LLC
Abc Partners LLC
Grant Deed
$180,000 · Umpqua Bank
Nov 17, 2006
$125,000
Abc Partners LLC
Resqmax INC
Grant Deed
—
Jan 19, 2005
$125,000
Resqmax INC
Abc Partners LLC
Grant Deed
—
Jan 18, 2002
—
Abc Partners
Airport Business Center Assocs
Grant 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.
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