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    Property profile & analytics

    1104 181St Ave Portland, OR 97230

    • Commercial real estate
    • 82,328 SF
    • 1.89 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0793664
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1104 181St Ave

    Lot size
    1.89 lot acres
    Property size
    82,328 SF
    Property type
    Commercial real estate

    Description

    This exceptional 1.89-acre (82,328 sq ft) development site in Portland, Oregon, presents a compelling investment opportunity. Located at 1104 NE 181st Ave, in Multnomah County (zip code 97230), this flat, high-visibility property is zoned CMF (Corridor Multi-Family), ideal for market-rate, workforce, or affordable housing projects. The asking price is $1,475,000, translating to approximately $17.92 per square foot. Its prime location offers convenient access to key amenities and transportation. The site enjoys close proximity to Troutdale and Downtown Gresham, and is less than a mile from the E 181st Ave Blue Line MAX station on E Burnside St, ensuring excellent transit connectivity for future residents. This presents a rare chance to develop multifamily housing in a rapidly growing area of East Multnomah County. The property's size and zoning regulations provide significant flexibility for a variety of development plans. Don't miss this chance to capitalize on the strong demand for housing in this desirable location.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.47717133288
    Latitude
    45.530930327994

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    Similar Nearby for Sale

    • $242,500

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      Modern, affordable 3-bedroom townhomes with solar panels and tax abatement.
      14864 NE Couch St, Portland, OR 97230
      View Details
    • $255,000

      Glenwood Condo in Summerplace Community

      55+ community condo with amenities, convenient location, and serene setting.
      15035 NE Sacramento St, Portland, OR 97230
      View Details
    • $199,950
      813 SF

      Condo with Private Deck

      Light-filled condo featuring a private deck and assigned parking.
      217 NE 146Th Ave, Portland, OR 97230
      View Details
    • $242,500

      Affordable Modern Townhomes with Solar

      Modern, affordable 3-bedroom townhomes with solar panels and tax abatement.
      14858 NE Couch St, Portland, OR 97230
      View Details
    • $242,500

      Affordable Modern Townhomes with Solar

      Modern, affordable 3-bedroom townhomes with solar panels and tax abatement.
      14840 NE Couch St, Portland, OR 97230
      View Details
    • $325,000

      Remodeled Condo in Jasper Heights

      Stylish 2-bedroom condo with modern updates and community amenities.
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    1104 181St Ave
    Portland, OR 97230
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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.

    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
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