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Property profile & analytics
OFF-MARKET
Estimated value
$3,370,000
Office Spaces
912 Kelly Ave Gresham, OR 97030-5629
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0455150
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Total area
20,928 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DT
APN
1S3E10BA 00300
UPID
US71-0455150
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
$3.83M
Comparable Approach
Comparable
$3.77M
Blend (final)
Blend
$3.37M
Owner & transaction history
912 North East Kelly Avenue LLC · 2 yrs held
912 North East Kelly Avenue LLC
since 2023
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
DT · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.5M
+6.4%
Office building
$5.4M
+3.9%
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
$3,250,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,145,000
6.5%
$3,825,000
7%
$3,550,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,180,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,510,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$5,385,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$4,365,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.37M
Range $3.03M – $3.71M · ±10% · vs last sale $2.80M (Aug 17 2023)
Last sale anchor
$2.80M
Aug 17 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
$161 / 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
$30,345
Tax year 2023
Assessed value
$1,611,720
Assessed 2023
Previous assessed
$1,564,780
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$315,450
Improvement market value
$2,388,900
Total market value
$2,704,350
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2000
Heating
NONE
Stories
2
Bathrooms
1
Total area
20,928 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DT
APN
1S3E10BA 00300
UPID
US71-0455150
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
COMMERCIAL (GENERAL) Current
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.5M
OFFICE BUILDING
Est. value
$5.4M
WAREHOUSE, STORAGE
Est. value
$4.4M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2000
Heating
NONE
Stories
2
Bathrooms
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
912 North East Kelly Avenue LLC
Entity
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2023
$2,800,000
912 North East Kelly Avenue LLC
Kelly Street Properties LLC
Special Warranty Deed
—
Jun 28, 2018
—
Kelly Street Properties LLC
—
Deed
related
$1,680,000 · Columbia State Bank
Oct 31, 2011
—
Kelly Street Properties LLC
Busk,susan R
Grant Deed
$1,435,604 · Clackamas County Bank
Jul 6, 2011
$17,500
Susan R Doan
Owner Name Unavailable
Grant Deed
related
—
Dec 29, 1999
$240,000
Steven V Busk
Busk,steven V
Grant Deed
related
$250,000 · Individual
May 10, 1999
$105,000
Steven V Busk
Busk,steve & Thomas
Grant Deed
related
$1,650,000 · Clackamas County Bank
Apr 1, 1992
$115,000
Jessen,ernest Tr&lois E Tr
Unknown
Grant Deed
—
—
—
Steven V Busk
—
Deed Of Trust
related
$29,578 · Merle W Scrivner
—
—
Kelly Street Properties LLC
—
Deed Of Trust
related
$271,259 · Clackamas County Bank
—
—
Kelly Street Properties LLC
—
Deed Of Trust
related
$271,529 · Clackamas County Bank
—
—
Steven V Busk
—
Deed Of Trust
related
$39,000 · Ted Vanschaik
—
—
Kelly Street Properties LLC
—
Deed Of Trust
related
$105,000 · Clackamas County 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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