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Property profile & analytics
OFF-MARKET
Estimated value
$1,580,000
Office Spaces
7102 Varns St, Portland, OR 97223-8007
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1881018
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1978
Total area
9,000 SF
Lot
0.57 ac (24,829 SF)
Zoning code
C-P
APN
2S101DA-01000
UPID
US71-1881018
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
$1.58M
Blend (final)
Blend
$1.58M
Owner & transaction history
Bks Investments LLC · 8 yrs held
Bks Investments LLC
since 2018
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
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)
$2,615,000
Current use
OFFICE BUILDING
$2,600,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,395,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.58M
Range $1.42M – $1.74M · ±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
$176 / 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
$9,127
Tax year 2023
Assessed value
$518,530
Assessed 2023
Previous assessed
$503,430
+3.0% YoY
Effective rate
1.76%
On assessed value
Land market value
$768,950
Improvement market value
$704,930
Total market value
$1,473,880
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1978
Heating
NONE
Total area
9,000 SF
Lot
0.57 ac (24,829 SF)
Zoning code
C-P
APN
2S101DA-01000
UPID
US71-1881018
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
COMMERCIAL (GENERAL) Current
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1978
Heating
NONE
Lot
0.57 ac
Current owner
From public records · entity-resolved
Bks Investments LLC
Entity
Mailing address
2992 NE JACKSON SCHOOL RD, HILLSBORO, OR 97124-1617
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2018
$1,500,000
Bks Investments LLC
Paragon Investments LLC
Warranty Deed
$1,125,000 · Columbia State Bank
Aug 31, 2006
—
Paragon Investments LLC
—
Trustees Deed
related
$50,000 · Columbia Community Bank
Dec 1, 2005
—
Paragon Investments LLC
—
Trustees Deed
related
$350,000 · Columbia Community Bank
Nov 18, 2005
—
Paragon Investments LLC
—
Trustees Deed
related
$650,000 · Columbia Community Bank
Apr 12, 2002
$750,000
Paragon Investments LLC
Van Gorder,john S & Berton D
Grant Deed
$377,250 · Columbia Community Bank
Nov 29, 1996
—
Berton D Van Gorder
Lyons,ruth K
Grant Deed
$201,635 · Key Bank Of Oregon
—
—
Paragon Investments LLC
—
Deed Of Trust
related
$100,000 · Columbia Community Bank
—
—
Paragon Investments LLC
—
Deed Of Trust
related
$200,000 · Columbia Community Bank
—
—
Paragon Tile & Stone INC
—
Deed Of Trust
related
$75,000 · Robert W Veley
—
—
Paragon Investments LLC
—
Deed Of Trust
related
$313,000 · Ccd Business Development
—
—
Paragon Investments LLC
—
Deed Of Trust
related
$995,000 · 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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