Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    NW Old Cornelius Pass Rd Portland, OR 97231

    Sponsored
    For Sale
    $469,900

    LAND - Portland, OR

    Type:Single Family Residence
    Lot size:
    3.06 Acres
    Days on Market:
    24
    Last Refresh:
    Mar 3 at 7:06 pm

    Property Features for NW Old Cornelius Pass Rd

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    EFC
    APN
    R2163244
    Lot size
    3.06 Acres

    We can help!

    Listing Contact
    Pat Griffith

    John L. Scott Beaverton-Sunset Corridor (503) 645-7433

    Listing agent Pat Griffith (503) 645-7433

    Listing date Feb 8, 2026

    MLS# 481932598

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Land with Valley Views

    This 3.06-acre property is a home site featuring trees and valley views. It is located in close proximity to Hillsboro, Beaverton, and Portland, with access via a paved road. The site includes a roughed-in driveway and a cleared area that has been re-seeded with grass seed. The property is situated approximately halfway between Phillips Rd and Skyline on Old Cornelius Pass, offering a location to build a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.870979
    Latitude
    45.602165

    Nearby Similar for Sale

    • New
      $989,000
      3,018 SF

      Versatile Duplex in Portland

      Innovative duplex perfect for multi-generational living or investment.
      16473 NW Liberty St, Portland, OR 97229
      View Details
    • New
      $1,999,950
      3,571 SF

      Profitable Adult Care Home Business

      Turn-key adult care home business in Southwest Portland for sale.
      8955 SW Club Meadow Ln, Portland, OR 97225
      View Details
    • New
      $625,000
      450 SF

      Remodeled Bungalow with ADU Income

      Charming bungalow with ADU, remodeled in 2020, income potential.
      745 SW Maplecrest Dr, Portland, OR 97219
      View Details
    • New
      $730,000
      2,181 SF

      Updated Duplex in Central Location

      Remodeled duplex with modern amenities and convenient access to city.
      2345 SE 145Th Ave, Portland, OR 97233
      View Details
    • New
      $679,900
      3,407 SF

      Buckman Fourplex Investment Opportunity

      Fourplex in inner SE Portland with immediate rental income.
      1705 SE Morrison St, Portland, OR 97214
      View Details
    • New
      $875,000
      4,320 SF

      Portland Fourplex with Balconies

      Fully rented fourplex in Portland, Oregon, built in 2005.
      4724 NE 101St Ave, Portland, OR 97220
      View Details
    • New
      $799,900
      2,565 SF

      Stabilized Multifamily Portfolio in Portland

      Three townhome-style condo units in Portland's Cully neighborhood.
      5871 NE Prescott St, Portland, OR 97218
      View Details
    • New
      $869,000
      3,046 SF

      Charming Plex in Richmond Heart

      Lovingly maintained plex with updated roof and separate electrical meters.
      3123 SE 31St Ave, Portland, OR 97202
      View Details
    • New
      $695,000
      3,406 SF

      Charming Fourplex in Buckman Neighborhood

      Vintage fourplex in Southeast Portland's desirable Buckman neighborhood.
      942 SE 16Th Ave, Portland, OR 97214
      View Details
    • New
      $975,000
      3,350 SF

      Portland Multifamily with City Views

      5-plex near PSU with RM4 zoning for high-density development.
      2047 SW 10Th Ave, Portland, OR 97201
      View Details
    • $725,000
      2,948 SF

      Adaptable Duplex in SE Portland

      2-unit property with development potential in a vibrant, walkable neighborhood.
      2028 SE Brooklyn St, Portland, OR 97202
      View Details
    • $784,900
      3,195 SF

      Portland Duplex with Expansion Potential

      Updated duplex in Brooklyn neighborhood with basement conversion opportunity.
      3332 SE 9Th Ave, Portland, OR 97202
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Home site with trees, valley views, great location and access.
    Where is this residential land & home lot located?
    The property is located at NW Old Cornelius Pass Rd Portland, OR.
    What is the asking price?
    The asking price for this property is $469,900.
    What are key features of this property?
    This property features: - Close-in location with easy access to Hillsboro, Beaverton, and Portland.; - Cleared home site with roughed-in driveway ready for building.; - Scenic valley views and abundant wildlife.
    (503) 645-7433
    Request Owner's contact information
    NW Old Cornelius Pass Rd Portland, OR 97231
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    NW Old Cornelius Pass Rd
    Portland, OR 97231
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    NW Old Cornelius Pass Rd Portland, OR 97231
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Pat Griffith
    Real Estate License ID: 891200192
    (503) 645-7433 (503) 939-9090
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!