Individually Owned 
For Sale
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88 NW Murray Blvd, Portland, OR 97229
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Property summary
AI-generated overview
This exceptional mixed-use property, located at 88 NW Murray Blvd in Portland, Oregon, presents a lucrative investment opportunity. The building, constructed in 2007, boasts a total of 2,034 square feet, perfectly divided into 1,017 square feet of retail space on the ground floor and an equal amount of office space on the second floor. Currently operating at 100% occupancy, this property offers immediate cash flow. Situated on a 0.13-acre lot (APN R0636805), the building benefits from high visibility and significant traffic volume due to its strategic location directly off the Murray Boulevard exit of Highway 26. This provides excellent access to Highway 217, ensuring convenient commutes for both employees and customers. The property is zoned NC and features a two-story structure. The asking price is $995,000, translating to a price per square foot of $489.18. This represents a strong value proposition in the vibrant Portland market. The property's excellent location, combined with its current high occupancy rate and versatile floor plan, makes it an ideal investment for discerning buyers seeking a stable and profitable asset. Don't miss this chance to acquire a thriving mixed-use property in a prime Portland location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
2,014 SF
Lot
0.13 ac (5,663 SF)
Zoning code
NC
APN
1N133DC-03400
UPID
US71-0518966
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Travel Agency
-
Spa & Massage Center
-
Restaurant
-
Take-out & Catering Catering Service
-
Nail Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$789k
Blend (final)
Blend
$790k
Owner & transaction history
since 2019
5 recorded transactions
Zoning & alternative use
NC · Portland, OR
Top alternative use upside
Auto repair, garage
$615,000
+1.7%
Medical building
$610,000
+0.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$790k
Value range
$711k – $869k
±10% around blend
Estimated value / SF
$392 / SF
Confidence
High
7 county-verified comps
Property data
75
Market benchmarks
67
Comparable evidence
70
Income certainty
100
$711k
blend $790k
$869k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,014 SF
Lot area
0.13 ac
APN
1N133DC-03400
Zoning
NC
Assessed value
$231,500
Annual tax
$4,176
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$4,176
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$692k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.6 mi away · 2,250 SF
7.6 mi away · 1,632 SF
10.4 mi away · 1,859 SF
19.7 mi away · 1,800 SF
20.7 mi away · 2,214 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$790k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 315 sales
$300
+31%
County 86 sales
$224
+75%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $392/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+2%
vs current-use indication
Medical Building
Retail Stores · current use
Office Building
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
2.76%
Selected cap rate for this retail space
Derived from the Portland market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$27k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$995k
Move the market yield to see immediate price impact.
Value / SF
$494
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.26%2.76%3.26%
$25k
$1.09M
$895k
$758k
$27k
$1.22M
$995k
$842k
$30k
$1.34M
$1.09M
$927k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$860k
2.5 mi · Nov 2025 · $538/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,176
Tax year 2023
Assessed value
$231,500
Assessed 2023
Previous assessed
$224,760
+3.0% YoY
Effective rate
1.80%
On assessed value
Land market value
$191,860
Improvement market value
$392,990
Total market value
$584,850
Applied tax rate
51.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Heating
NONE
Total area
2,014 SF
Lot
0.13 ac (5,663 SF)
Zoning code
NC
APN
1N133DC-03400
UPID
US71-0518966
Jurisdiction
WASHINGTON
Zoning & alternative use
NC · Portland, ORZoning NC · permitted uses
NC · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Lot
0.13 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
NC
Jurisdiction
Portland, OR
Recorded code
NC
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NC in Portland, OR.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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