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Property profile & analytics
FOR SALE
Medical Office Space
8283 SW Barbur Blvd, Portland, OR 97219
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0031108
For Sale
1 / 25
$1,125,000
8283 SW Barbur Blvd, Portland, OR 97219
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Property summary
AI-generated overview
This exceptional mixed-use property at 8283 SW Barbur Blvd, Portland, OR 97219, offers a unique owner-user opportunity. The 4,070 square foot building, constructed in 1951 and situated on a 4,768 square foot lot, boasts a recently renovated two-bedroom, one-bathroom apartment on the top floor. The apartment features a new kitchen, bathroom, flooring, and paint. The two levels of commercial space have undergone significant improvements, including updated restrooms, fresh paint, new lighting, HVAC systems, and a new fence. The first floor includes a medical build-out with multiple treatment rooms and access to a secure rear parking lot. The middle floor offers street-level commercial space. The building is currently 50% occupied and zoned CM2 (Commercial Mixed Use 2, City of Portland). The seller is open to leasing back a portion of the building. The property benefits from excellent signage visibility on Barbur Boulevard and convenient access to I-5 and Highway 99. Priced at $1,125,000, this is a compelling investment opportunity with significant upside potential. The gross lease structure provides straightforward income management.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1951
Total area
2,484 SF
Lot
0.1 ac (4,356 SF)
Zoning code
CG
APN
1S1E21CB 04100
UPID
US71-0031108
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
-
Jared Dean - State Farm Insurance Agent Insurance Agency
-
Sara Ohgushi Midwife
-
Open River Acupuncture Medical Clinic Alternative Medicine Practice
-
Roberto Masferrer, LAC Medical Clinic Alternative Medicine Practice
-
Natural Traditions PC Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$611k
Blend (final)
Blend
$585k
Owner & transaction history
Jackpenny LLC · 2 yrs held
Jackpenny LLC
since 2023
Last sale
$550,000
7 recorded transactions
Zoning & alternative use
CG · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$760,000
+1.1%
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
$620,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$625,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$750,000
Current use
AUTO REPAIR, GARAGE
$760,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$745,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$720,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$715,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $550k (Dec 4 2023)
Last sale anchor
$550k
Dec 4 2023
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
$236 / 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
$7,966
Tax year 2023
Assessed value
$300,900
Assessed 2023
Previous assessed
$292,140
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$197,030
Improvement market value
$436,910
Total market value
$633,940
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1951
Heating
NONE
Stories
2
Total area
2,484 SF
Lot
0.1 ac (4,356 SF)
Zoning code
CG
APN
1S1E21CB 04100
UPID
US71-0031108
Jurisdiction
MULTNOMAH
Zoning & alternative use
CG · Portland, OR
Zoning CG · permitted uses
CG · 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
MEDICAL BUILDING Current
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$760,000
RETAIL STORES
Est. value
$745,000
OFFICE BUILDING
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$715,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
1951
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Jackpenny LLC
Entity
Mailing address
2605 LORINDA LN, WEST LINN, OR 97068-3754
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2023
$550,000
Jackpenny LLC
Groundspring Investments LLC
Warranty Deed
$467,500 · First Citizens Bank And Trust Co In
Jun 24, 2005
$329,950
Groundspring Investments LLC
Glatt,michael A
Grant Deed
$189,975 · California Bank & Trust
May 21, 2001
$80,000
Keith D Nicol
Wipper Trust
Grant Deed
—
May 21, 2001
$220,000
Michael A Glatt
Nicol,keith D
Grant Deed
$209,000 · Goleta National Bank
—
—
Groundsprings Investment LLC
—
Deed Of Trust
related
$159,000 · Northwest Busn Dev Assn
—
—
Groundspring Investments LLC
—
Deed Of Trust
related
$159,000 · Northwest Busn Dev Assn
—
—
Groundspring Investments LLC
—
Deed Of Trust
related
$410,000 · Bank Of America
—
—
Groundspring Investments LLC
—
Deed Of Trust
related
$146,000 · California Bank & Trust
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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