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    5528 SE Rhone St Portland, OR 97206

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    For Sale
    $750,000

    Cleared site with permit-ready condo project in Portland's Foster-Powell.

    Property Features for 5528 SE Rhone St

    General Information

    Standard status
    Active

    Source: LOVEJOY REAL ESTATE Agent SHAYDA ROHANI

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Opportunity in Foster-Powell

    This cleared and prepped site presents a development opportunity in Portland’s Foster-Powell neighborhood. The property offers flexibility for various development options. Current plans include a nearly permit-ready condo project featuring six units. Each condo is designed to be approximately 1,800 square feet, with three bedrooms and two and a half bathrooms. Optional rooftop decks are included in the design to capture views of Portland. Architectural plans and engineering are included with the purchase. Building permits are potentially ready for issuance in as little as 60 days. Right-of-way improvements are 90% approved. A demolition permit for the existing structures has been fully paid and approved. Lead and asbestos abatement has been completed and certified with close-out letters. Both underground oil tanks have been professionally removed and cleared through DEQ. The site is suited for building new condos or pivoting to another multi-unit concept.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.6056301
    Latitude
    45.4959377

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    FAQs

    What type of property is this?
    Commercial land - Cleared site with permit-ready condo project in Portland's Foster-Powell.
    Where is this commercial land located?
    The property is located at 5528 SE Rhone St Portland, OR.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Permit-ready condo project with architectural plans and engineering included, potentially issuing building permits in 60 days.; - Cleared and prepped site ready for development, offering flexibility for various multi-unit concepts.; - Includes plans for six approximately 1,800 square foot condos, each with three bedrooms, two and a half bathrooms, and optional rooftop decks.
    Request Owner's contact information
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    Portland, OR 97206
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    Realmo Value Estimation

    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.

    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.

    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
    5528 SE Rhone St Portland, OR 97206
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