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Property profile & analytics
OFF-MARKET
Estimated value
$3,615,000
Retail space
860 Main Ave Morton, WA 98356
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1630751
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Construction
WOOD
Total area
25,355 SF
Lot
2.45 ac (106,722 SF)
APN
29764003000
UPID
US90-1630751
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
-
Heritage House Morton Assisted Living and Memory Care Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.04M
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$3.62M
Owner & transaction history
Heritage House Morton LLC · 18 yrs held
Heritage House Morton LLC
since 2008
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.3M
+25.3%
Office building
$5.2M
+24.5%
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 Morton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morton 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%
$5,465,000
6.5%
$5,040,000
7%
$4,680,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,200,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,265,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$5,230,000
Change: +24% · Conversion: Easy
RESTAURANT
$3,715,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.62M
Range $3.25M – $3.98M · ±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
$143 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$13,938
Tax year 2024
Assessed value
$2,187,400
Assessed 2023
Previous assessed
$2,187,400
+0.0% YoY
Effective rate
0.64%
On assessed value
Assessed land
$269,500
Assessed improvement
$1,917,900
Land market value
$269,500
Improvement market value
$1,917,900
Total market value
$2,187,400
Applied tax rate
33.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
25,355 SF
Lot
2.45 ac (106,722 SF)
APN
29764003000
UPID
US90-1630751
Jurisdiction
LEWIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
OFFICE BUILDING
Est. value
$5.2M
RESTAURANT
Est. value
$3.7M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RESTAURANT
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
1999
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
2.45 ac
Current owner
From public records · entity-resolved
Heritage House Morton LLC
Entity
Mailing address
2040 A ST, FOREST GROVE, OR 97116-2333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
—
Heritage House Morton LLC
—
Deed
related
$1,475,000 · 1st Security Bank Of Washington
Nov 29, 2016
—
Heritage House Morton LLC
—
Deed
related
$1,594,416 · Anchor Bank
Jul 1, 2008
—
Heritage House Morton LLC
Alliance Financial LLC
Quit Claim Deed
related
—
Mar 3, 2008
—
Riverside Manor LLC
Heritage House Morton LLC
Warranty Deed
$1,875,000 · Anchor Bank
—
—
Heritage House Morton LLC
—
Deed Of Trust
related
$1,800,000 · Columbia State 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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