New search
Property profile & analytics
FOR LEASE
Warehouses
6606 S Macadam Ave, Portland, OR 97219
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0728444
For Lease
1 / 2
$2,790,000
6606 S Macadam Ave, Portland, OR 97219
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1967
Total area
9,040 SF
Lot
0.28 ac (12,255 SF)
Zoning code
CGDG
APN
1S1E15DC 00500
UPID
US71-0728444
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
$2.79M
Owner & transaction history
Vtg Properties LLC · 20 yrs held
Vtg Properties LLC
since 2006
4 recorded transactions
Zoning & alternative use
CGDG · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+67.8%
Auto repair, garage
$2.8M
+49.6%
Medical building
$2.7M
+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
$1,845,000
Current use
RESTAURANT
$3,095,000
Change: +68% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,760,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$2,730,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$2,715,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$2,615,000
Change: +42% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,475,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$2.79M
Range $2.51M – $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
$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
$22,259
Tax year 2023
Assessed value
$840,810
Assessed 2023
Previous assessed
$816,330
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$882,240
Improvement market value
$1,282,110
Total market value
$2,164,350
Applied tax rate
1.0000
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
For Lease
Year built
1967
Heating
NONE
Stories
1
Total area
9,040 SF
Lot
0.28 ac (12,255 SF)
Zoning code
CGDG
APN
1S1E15DC 00500
UPID
US71-0728444
Jurisdiction
MULTNOMAH
Zoning & alternative use
CGDG · Portland, OR
Zoning CGDG · permitted uses
CGDG · 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
$1.8M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1967
Heating
NONE
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Vtg Properties LLC
Entity
Mailing address
8228 SW KINGFISHER WAY, TIGARD, OR 97224-7073
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Mar 8, 2006
—
Vtg Properties LLC
Kilgour,lori J
Grant Deed
related
—
Mar 1, 2006
—
Lori J Kilgour
Jennings,robert S
Grant Deed
related
—
Jun 29, 2001
$127,000
Peter W Smith
Jennings,robert S
Grant Deed
—
—
—
Vtg Properties LLC
—
Deed Of Trust
related
$94,500 · Umpqua 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
