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Property profile & analytics
OFF-MARKET
Estimated value
$1,725,000
Medical Office Space
7105 40th St, Vancouver, WA 98661-3058
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0054199
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1994
Construction
WOOD
Total area
7,917 SF
Lot
1.52 ac (66,211 SF)
Zoning code
CG : VAN
APN
160520-005
UPID
US90-0054199
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
-
Northstar Clinic Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.65M
CAP Approach
CAP
$1.57M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.73M
Owner & transaction history
Joseph A Markley
Joseph A Markley
since 2026
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
CG : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+20.9%
Retail stores
$2.5M
+16.6%
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 Vancouver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vancouver 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
$1,665,000
ML approach
$1,650,000
CAP Approach
CAP Return
Estimation
6%
$1,695,000
6.5%
$1,565,000
7%
$1,455,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,170,000
Current use
RESTAURANT
$2,625,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$2,530,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,010,000
Change: -8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,935,000
Change: -11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,825,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.73M
Range $1.55M – $1.90M · ±10% · vs last sale $1.88M (Sep 28 2022)
Last sale anchor
$1.88M
Sep 28 2022
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
$218 / 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
$21,377
Tax year 2023
Assessed value
$2,290,100
Assessed 2023
Previous assessed
$1,437,000
+59.4% YoY
Effective rate
0.93%
On assessed value
Assessed land
$847,500
Assessed improvement
$1,442,600
Land market value
$847,500
Improvement market value
$1,442,600
Total market value
$2,290,100
Applied tax rate
10,000.0000
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
1994
Construction
WOOD
Heating
OTHER
Stories
1
Total area
7,917 SF
Lot
1.52 ac (66,211 SF)
Zoning code
CG : VAN
APN
160520-005
UPID
US90-0054199
Jurisdiction
CLARK
Zoning & alternative use
CG : VAN · Vancouver, WA
Zoning CG : VAN · permitted uses
CG : VAN · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vancouver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RESTAURANT
Est. value
$2.6M
RETAIL STORES
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
MEDICAL BUILDING Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1994
Construction
WOOD
Heating
OTHER
Stories
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Joseph A Markley
Individual
Mailing address
4106 NE 77TH AVE #180, VANCOUVER, WA 98662
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2026
—
Joseph A Markley
Joseph A Markley
Deed
related
—
Nov 15, 2023
—
Northstar2.0 LLC
—
Deed
related
$2,450,000 · Washington State Department Of Commerce
Sep 28, 2022
—
Northstar 2 0 LLC
Columbia River Mental Health Servic
Quit Claim Deed
related
$2,500,000 · Nff New Markets Fund Xl LLC
May 5, 2022
$1,875,000
Columbia River Mental Health Servic
Philip A Kalberer
Warranty Deed
—
Sep 19, 2016
—
Philip A Kalberer
—
Deed
related
$150,000 · Pacific Continental Bank
Sep 5, 2014
$615,750
Philip A Kalberer
Ilg Judy Trust
Grant Deed
—
Apr 24, 2007
—
Ilg Judy Trust
Ilg,judy M
Quit Claim Deed
related
—
Mar 11, 2005
$110,000
Philip A Kalberer
Welch,paul H & Jacqueline M
Warranty Deed
—
Jan 5, 2005
$85,000
Philip A Kalberer
Welch,paul H & Jacqueline M
Grant Deed
$1,080,000 · Pacific Continental Bank
Mar 30, 2004
$210,000
Phillip A Kalberer
Welch,paul H & Jacqueline M
Grant Deed
—
Sep 17, 1992
$475,000
Paul Welch
Welch,paul & Jac
Grant Deed
related
$375,000 · Us Bank Of Sw Wa
—
—
Paul H Welch
—
Deed Of Trust
related
$350,000 · Us Bank
—
—
Philip A Kalberer
—
Deed Of Trust
related
$900,000 · Pacific Continental Bank
—
—
Kalberer,philip A
—
Loan Modification
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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