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Property profile & analytics
FOR LEASE
Auto shops
840 NE Cleveland Ave Gresham, OR 97030
Trust Owned
10-yr Hold
Free & Clear
Property ID
US71-0138120
For Lease
1 / 24
$15 SF/Yr
840 NE Cleveland Ave, Gresham, OR 97030
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1972
Total area
6,400 SF
Lot
0.65 ac (28,302 SF)
Zoning code
DT
APN
1S3E10AB 00800
UPID
US71-0138120
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
$2.18M
Blend (final)
Blend
$2.19M
Owner & transaction history
Honke,joseph J Trust · 10 yrs held
Honke,joseph J Trust
since 2015
1 recorded transaction
Zoning & alternative use
DT · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+20.7%
Medical building
$1.9M
+1.9%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
$1,895,000
Current use
RESTAURANT
$2,290,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$1,935,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,685,000
Change: -11% · Conversion: Difficult
OFFICE BUILDING
$1,645,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,585,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±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
$341 / 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
$11,016
Tax year 2023
Assessed value
$585,070
Assessed 2023
Previous assessed
$568,030
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$304,890
Improvement market value
$842,940
Total market value
$1,147,830
Applied tax rate
26.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Lease
Year built
1972
Heating
NONE
Stories
1
Total area
6,400 SF
Lot
0.65 ac (28,302 SF)
Zoning code
DT
APN
1S3E10AB 00800
UPID
US71-0138120
Jurisdiction
MULTNOMAH
Zoning & alternative use
DT · Gresham, OR
Zoning DT · permitted uses
DT · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.9M
RESTAURANT
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1972
Heating
NONE
Stories
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Honke,joseph J Trust
Trust
Free & Clear · 10 yrs held
Mailing address
1537 SE 223RD AVE APT #3310, GRESHAM, OR 97030-2464
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2015
—
Honke,joseph J Trust
Honke Georgene M Trust
Quit Claim Deed
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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