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Property profile & analytics
OFF-MARKET
Estimated value
$4,135,000
Warehouses
9620 Colfax St, Portland, OR 97220-1231
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0065401
Property summary
AI-generated overview
This exceptional 12,780-square-foot Class B warehouse, built in 1982, presents a significant investment opportunity in Portland's Metro submarket. The property boasts a strategic location offering convenient access to major freeways, I-205 and I-84, and Portland International Airport. The building features 17-foot ceilings, five loading docks, one drive-in door, and ample parking for 60 vehicles. The electrical service is 120-208v, 325a, 3PH. The property is zoned IG and sits on a generous 2.01-acre lot, including approximately 51,000 square feet of excess yard space, ideal for storage or laydown. Currently, the entire 12,780 square feet is vacant, providing immediate occupancy for a wide range of uses, including warehousing, distribution, and contractor operations. The property's multiple-tenant capability and expansive yard space make it a highly versatile and attractive option for businesses seeking a well-located and functional industrial space in the thriving Portland market. The property's APN is R227529. The address is 9620 NE Colfax St, Portland, OR 97220. No elevators are present.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1982
Total area
12,600 SF
Lot
2.01 ac (87,381 SF)
Zoning code
IG2H
APN
1N2E16D 02100
UPID
US71-0065401
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
-
Cross Docking in Portland Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.89M
Blend (final)
Blend
$4.14M
Owner & transaction history
Paul Lastovskiy · 1 yrs held
Paul Lastovskiy
since 2025
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
IG2H · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+67.8%
Auto repair, garage
$3.8M
+49.6%
Medical building
$3.8M
+48.0%
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
$4,595,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,570,000
Current use
RESTAURANT
$4,315,000
Change: +68% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,845,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$3,805,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$3,785,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$3,640,000
Change: +42% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,405,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$4.14M
Range $3.72M – $4.55M · ±10% · vs last sale $4.15M (Oct 23 2024)
Last sale anchor
$4.15M
Oct 23 2024
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
$328 / 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
$28,870
Tax year 2023
Assessed value
$1,196,580
Assessed 2023
Previous assessed
$1,161,730
+3.0% YoY
Effective rate
2.41%
On assessed value
Land market value
$1,167,770
Improvement market value
$2,018,310
Total market value
$3,186,080
Applied tax rate
6.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1982
Heating
NONE
Stories
1
Total area
12,600 SF
Lot
2.01 ac (87,381 SF)
Zoning code
IG2H
APN
1N2E16D 02100
UPID
US71-0065401
Jurisdiction
MULTNOMAH
Zoning & alternative use
IG2H · Portland, OR
Zoning IG2H · permitted uses
IG2H · 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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
RESTAURANT
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.8M
RETAIL STORES
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$3.4M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1982
Heating
NONE
Stories
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Paul Lastovskiy
Individual
Mailing address
10240 W ROOSEVELT RD UNIT #8193, WESTCHESTER, IL 60154-2048
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 23, 2025
$4,150,000
Paul Lastovskiy
Imperial Group LLC
Warranty Deed
—
Jan 4, 2023
$4,075,000
Group LLC
Ganga LLC
Special Warranty Deed
$2,154,000 · Pacific Western National Bank
Mar 10, 2014
$1,347,100
Ganga LLC
Barton Holdings LLC
Warranty Deed
$1,020,000 · Sterling Bank
Jan 7, 2005
$850,000
Barton Holdings LLC
Mp Cargo Pdx Property LLC
Special Warranty Deed
$1,037,000 · Cit Small Business Lending Corp
Aug 12, 2004
$768,410
Mp Cargo Pdx Property LLC
Malnik,alvin
Trustees Deed
$31,600,000 · Pb Capital Corp Trustee
Aug 12, 2004
—
Alvin Malnik
Wade,william J Tr
Grant Deed
related
—
Jan 5, 1996
$441,810
Assoc Delaware Bsnes Trus Cove
Circle International INC
Grant Deed
$15,496,404 · Principal Mutual Life Ins
—
—
Barton Holdings LLC
—
Deed Of Trust
related
$1,040,000 · General Electric Capital Corp
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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