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    The Largest CRE Database in the US with Over 1 Million Listings

    6011 92Nd Ave Portland, OR 97266

    Sponsored
    For Sale
    $2,000,000

    Prime .5-acre development lot in thriving Lents.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    This exceptional commercial land offering presents a unique investment opportunity in Portland, Oregon's vibrant Lents neighborhood. Encompassing four contiguous parcels totaling 21,983 square feet (approximately half an acre), this property boasts a highly desirable CM3 zoning designation, allowing for large-scale commercial mixed-use development. The site is strategically located at 6011 SE 92nd Ave, a corner lot providing excellent visibility and accessibility, fronting both Woodstock Blvd and SE 92nd Ave. Situated within the Lents Town Center Redevelopment District, this location benefits from the ongoing revitalization efforts transforming this culturally diverse area of East Portland. The CM3 zoning permits a building height of up to 65 feet or six stories, offering significant development potential. While parking requirements should be reviewed, this prime location within a thriving community presents a compelling opportunity for a variety of commercial ventures. The property's APN is R108287, R108286, R108285, and R108283. Offered at $2,000,000. This is a for sale by owner listing.

    Property Features for 6011 92Nd Ave

    General Information

    Property type
    Land

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    Listing Contact
    Justin Kiesz
    Justin Kiesz

    Learn more

    Property Insight Report

    HighLights

    • Exceptional investment opportunity: 21,983 SF (approx. half‑acre) of commercial land in Portland, OR's Lents neighborhood.
    • Highly desirable CM3 zoning allows for large‑scale mixed‑use development.
    • Corner lot at 6011 SE 92nd Ave offers excellent visibility and accessibility.
    • Located in the Lents Town Center Redevelopment District, benefiting from ongoing revitalization.
    • Permits up to 65‑foot building height (six stories).
    • Offered at $2,000,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tidee Didee Diaper ... Diaper Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.56889515338
    Latitude
    45.47916284464

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    FAQs

    What type of property is this?
    Land - Prime .5-acre development lot in thriving Lents.
    Where is this land located?
    The property is located at 6011 92Nd Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 21,983 SF (approx. half-acre) of commercial land in Portland, OR's Lents neighborhood.; Highly desirable CM3 zoning allows for large-scale mixed-use development.; Corner lot at 6011 SE 92nd Ave offers excellent visibility and accessibility.
    Request Owner's contact information
    6011 92Nd Ave Portland, OR 97266
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    Portland, OR 97266
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    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
    6011 92Nd Ave Portland, OR 97266
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    We can help!
    Listing Contact
    Justin Kiesz
    Justin Kiesz
    Real Estate License ID: 201228690
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