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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Turn key restaurants
717 16th Ave, Portland, OR 97209-2301
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US71-0126352
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1884
Total area
6,491 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EXD
APN
1N1E33AC 01800
UPID
US71-0126352
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
-
Cardtronics ATM Atm
-
BeerSAVER Bar & Pub
-
Yur's Bar & Grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.26M
Owner & transaction history
Terry Hermelling · 7 yrs held
Terry Hermelling
since 2019
6 recorded transactions
Zoning & alternative use
EXD · 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
AUTO REPAIR, GARAGE
$1,980,000
Change: -11% · Conversion: Difficult
MEDICAL BUILDING
$1,960,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$1,950,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$1,875,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$193 / 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
$11,157
Tax year 2023
Assessed value
$421,420
Assessed 2023
Previous assessed
$409,150
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$329,260
Improvement market value
$992,460
Total market value
$1,321,720
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1884
Heating
NONE
Stories
2
Total area
6,491 SF
Lot
0.11 ac (5,000 SF)
Zoning code
EXD
APN
1N1E33AC 01800
UPID
US71-0126352
Jurisdiction
MULTNOMAH
Zoning & alternative use
EXD · Portland, OR
Zoning EXD · permitted uses
EXD · 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
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE 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
1884
Heating
NONE
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Terry Hermelling
Individual
Mailing address
717 NW 16TH AVE, PORTLAND, OR 97209-2301
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2019
—
Terry Hermelling
K-bend LLC
Grant Deed
related
—
May 10, 2001
$280,000
K Bend LLC
Gross,allyn M
Grant Deed
$230,000 · Allyn M Gross
May 10, 2001
—
Allyn M Gross
Mainlander Services Corp
Grant Deed
related
—
—
—
K-bend LLC
—
Deed Of Trust
related
$296,000 · Key Bank & Trust
—
—
K-bend LLC
—
Deed Of Trust
related
$87,500 · Glessing Properties LLC
—
—
K-bend LLC
—
Deed Of Trust
related
$200,000 · Allyn M Gross
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
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