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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Medical Office Space
7000 Varns St, Portland, OR 97223-8006
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0452325
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1972
Total area
6,592 SF
Lot
0.98 ac (42,689 SF)
Zoning code
C-P
APN
2S101DA-01900
UPID
US71-0452325
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
-
Madrona Recovery Medical Clinic
-
Evidence Storage Solutions Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.06M
Owner & transaction history
Mrc Re LLC · 5 yrs held
Mrc Re LLC
since 2020
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
C-P · 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
$945,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,755,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10% · vs last sale $900k (Aug 19 2020)
Last sale anchor
$900k
Aug 19 2020
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
$161 / 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
$24,235
Tax year 2023
Assessed value
$1,376,810
Assessed 2023
Previous assessed
$1,336,710
+3.0% YoY
Effective rate
1.76%
On assessed value
Land market value
$1,170,520
Improvement market value
$1,020,460
Total market value
$2,190,980
Applied tax rate
23.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1972
Heating
NONE
Buildings
2
Total area
6,592 SF
Lot
0.98 ac (42,689 SF)
Zoning code
C-P
APN
2S101DA-01900
UPID
US71-0452325
Jurisdiction
WASHINGTON
Zoning & alternative use
C-P · Portland, OR
Zoning C-P · permitted uses
C-P · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
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
1972
Heating
NONE
Buildings
2
Lot
0.98 ac
Current owner
From public records · entity-resolved
Mrc Re LLC
Entity
Mailing address
7000 SW VARNS ST, PORTLAND, OR 97223-8006
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2020
—
Mrc Re LLC
Nelson Vial LLC
Grant Deed
related
$1,650,000 · Craft3
Dec 29, 2017
—
Nelson Vial LLC
—
Deed
related
$1,150,000 · Riverview Cmnty Bk
May 23, 2011
—
Triangle Pointe LLC
—
Grant Deed
related
$10,100,000 · Umpqua Bank
Aug 12, 2005
—
Nelson Vial LLC
—
Trustees Deed
related
$400,000 · Bank Of The West
Oct 9, 2001
$900,000
Nelson Vial LLC
Shearer & Sons INC
Grant Deed
$775,000 · Investment Property Exchange
Mar 31, 1993
$449,500
Fred Shearer & Sons INC
Unknown
Grant Deed
—
—
—
Nelson Vial LLC
—
Deed Of Trust
related
—
—
—
Shearer & Sons INC
—
Deed Of Trust
related
$500,000 · Us Bank NA
—
—
Nelson Vial LLC
—
Deed Of Trust
related
$675,000 · Bank Of The West
—
—
Nelson Vial LLC
—
Deed Of Trust
related
$1,150,000 · Riverview Cmnty Bk
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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