Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Portland Hotel Redevelopment Opportunity Title is generated by Realmo AI

    2401 SW 4th Ave, Portland, OR 97201

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Existing hotel for sale or lease, ideal for redevelopment.

    Type:Hospitality
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 8:39 pm

    Property Features for 2401 SW 4th Ave

    General Information

    Standard status
    Active
    Property subtype
    Hospitality

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Nick Kassab

    Listing agent Nick Kassab

    Listing office

    Listing date Mar 5, 2026

    Source Corfac

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

    All listing content including descriptions, pricing, images are the copyrighted material of Nick Kassab

    HighLights

    • Excellent redevelopment opportunity in Downtown Portland.
    • Convenient access to I‑5 and I‑405.
    • Close proximity to Oregon Health and Sciences University.
    • Ideal location for multi‑family housing or micro‑unit conversion.
    • Benefit from on‑site parking.
    • Existing SureStay by Best Western Hotel.

    Overview

    An existing SureStay by Best Western Hotel is available for sale or lease in Downtown Portland. Currently operating as a budget hotel with on-site parking, the property also presents a redevelopment opportunity. Its location offers convenient access to I-5 and I-405, and proximity to the Oregon Health and Sciences University. This location is suitable for a multi-family housing development project or conversion to micro units. Nearby points of interest include Duniway Park, Momiji Sushi House, Orange & Blossom Patisserie, Oregon Health Sciences University, Pioneer Square, Portland Farmers Market at PSU, Portland State University, Providence Park, St. Barbra Pinoy Bakery, The South Waterfront, Under Armour Regional HQ, and Wild Rose Coffee.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    SureStay Hotel by ... Hotel & Motel Cardtronics ATM Atm Karaoke-O-Kult Theater & Performing Art Venue Suki's Bar & Grill Nightclub

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.682
    Latitude
    45.5054

    Nearby Similar for Sale

    • $899,000
      5,982 SF

      Versatile Commercial Property with Warehouse

      Mixed-use property featuring storefronts, restaurant, and warehouse space.
      1218 N Killingsworth Street, Portland, OR 97217
      View Details
    • $759,000
      3,881 SF

      Two Independent Homes on Oversized Lot

      Two homes, each with yard, porch, and in-unit laundry.
      4310 SE 52ND Ave, Portland, OR 97206
      View Details
    • $1,979,900
      4,588 SF

      New Cottage Homes in Beaumont-Wilshire

      Four newly built detached cottage homes in NE Portland.
      4895 NE CESAR E CHAVEZ Blvd, Portland, OR 97211
      View Details
    • $849,900
      3,207 SF

      Portland Triplex in Clinton-Division Neighborhood

      Fully leased triplex in a desirable, walkable Portland location.
      2735 SE CLINTON St, Portland, OR 97202
      View Details
    • $725,000
      3,892 SF

      North Portland Mixed-Use Triplex

      Cash-flowing triplex with commercial flexibility in a prime location.
      7521 N GLOUCESTER Ave N, Portland, OR 97203
      View Details
    • $3,229,900
      6,782 SF

      Southwest Portland Cottage Cluster Opportunity

      Newly built detached homes near Gabriel Park and Multnomah Village.
      3614 SW Vermont St, Portland, OR 97219
      View Details
    • $3,439,900
      9,454 SF

      Southeast Portland Multifamily Investment Opportunity

      Eight newly constructed homes near SE Woodstock Blvd and Lents Park.
      7468 SE Tolman St, Portland, OR 97206
      View Details
    • $2,850,000
      9,120 SF

      Buckman Multifamily Investment Opportunity

      10-unit apartment building in Portland's vibrant Buckman neighborhood.
      1626 SE ASH St, Portland, OR 97214
      View Details
    • $1,749,900
      5,071 SF

      New Construction Townhouse Style Asset

      New 5-unit townhouse in Portland's Humboldt neighborhood.
      5870 N MISSOURI Ave, Portland, OR 97217
      View Details
    • $790,000
      3,237 SF

      Irvington Duplex with Original Details

      Classic duplex in Irvington with investment potential and convenient location.
      929 NE TILLAMOOK St, Portland, OR 97212
      View Details
    • $1,250,000
      5,225 SF

      Portland Multifamily Investment Opportunity

      Well-maintained 7-unit apartment building in Southeast Portland's Lents neighborhood.
      8451 SE FOSTER Rd, Portland, OR 97266
      View Details
    • $889,900
      3,438 SF

      Classic Irvington Duplex

      Classic duplex with income potential in Portland's historic Irvington.
      1917 1919 NE 10TH Ave NE, Portland, OR 97212
      View Details

    FAQs

    What type of property is this?
    Hotel - Existing hotel for sale or lease, ideal for redevelopment.
    Where is this hotel located?
    The property is located at 2401 SW 4th Ave Portland, OR.
    What are key features of this property?
    This property features: Excellent redevelopment opportunity in Downtown Portland.; Convenient access to I‑5 and I‑405.; Close proximity to Oregon Health and Sciences University.
    (503) 517-9873
    We can help!
    Listing Contact
    Nick Kassab
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2401 SW 4th Ave, Portland, OR 97201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!