Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2187 Reed St Portland, OR 97210-2104

    • Warehouses
    • 18,751 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0059870
    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

    • Gango Custom Printing / Picture Frame Shop / Print Shop
    • Alan Mascord Design Associates / Architect / Blueprint Service

    Property Details for 2187 Reed St

    Year built
    1949
    Lot size
    0.92 lot acres
    Property size
    18,751 SF
    Zone code
    IG1
    Property type
    Warehouses
    APN
    1N1E28CA 03300
    APU
    1N1E28CA03300

    Description

    This exceptional 18,751-square-foot warehouse, located at 2187 NW Reed St in Portland, Oregon's Guilds Lake industrial market, presents a compelling owner-user opportunity. Built in 1949 and extensively renovated in 2016, the property boasts modern amenities and significant upgrades. The building sits on a substantial 39,974-square-foot lot and features a 14-foot ceiling height, ideal for various industrial and flex-space uses. With IG1 zoning, the property offers flexibility for a wide range of businesses. Conveniently located in Multnomah County, zip code 97210, the warehouse provides ample parking with 26 spaces and three loading docks, ensuring efficient operations. The asking price for this turnkey industrial property is $4,500,000. This represents a rare chance to acquire a well-maintained, strategically located warehouse in a thriving Portland neighborhood. The property's combination of size, location, and modern features makes it an attractive investment for businesses seeking to own their operational space. The substantial lot size also offers potential for future expansion or development. Don't miss this opportunity to secure a prime industrial asset in a highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.696
    Latitude
    45.5404
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $40,421
    $0.00
    $0.00
    $1,526,830
    -
    $1,706,980
    $3,253,950
    $4,960,930

    Comparable in this City

    • Value Estimation by Request
      13,975 SF

      2727 St Helens Rd

      Distribution properties • 13,975 SF
      2727 St Helens Rd, Portland, OR 97210
      View Details
    • Value Estimation by Request
      0.01 Acres

      3103rd Nw St Helens Rd

      WAREHOUSE, STORAGE • 0.01 Acres
      3103rd Nw St Helens Rd, Portland, OR 97210
      View Details
    • Value Estimation by Request
      22,400 SF

      3045 Frnt Ave, Unit 3065

      WAREHOUSE, STORAGE • 22,400 SF
      3045 Frnt Ave, Portland, OR 97210-1505
      View Details
    • Value Estimation by Request
      3,494 SF

      3333 Wi Nw 35th Ave

      WAREHOUSE, STORAGE • 3,494 SF
      3333 Wi Nw 35th Ave, Portland, OR 97210
      View Details
    • Value Estimation by Request
      34,574 SF

      2700 Sherlock Ave

      WAREHOUSE, STORAGE • 34,574 SF
      2700 Sherlock Ave, Portland, OR 97210-1545
      View Details
    • Value Estimation by Request
      4,000 SF

      3335 Saint Helens Rd, Unit 3347

      WAREHOUSE, STORAGE • 4,000 SF
      3335 Saint Helens Rd, Portland, OR 97210-1309
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      31,385 SF

      Industrial Property with Secured Parking

      Flex space in Guild’s Lake/NW Industrial submarket with parking.
      2101-2133 NW York St, Portland, OR 97210
      View Details
    • Contact for pricing
      41,681 SF

      Guilds Lake Industrial Property

      Industrial property near Fremont Bridge on/off-ramps in Guilds Lake.
      2355 NW Vaughn St, Portland, OR 97210
      View Details
    • Contact for pricing

      Divisible Warehouse in NW Portland

      Warehouse space with multiple grade doors, close to amenities.
      2501 NW Wilson St, Portland, OR 97210
      View Details
    • Contact for pricing

      NW Portland Office Warehouse Building

      Located in NW Portland, close to restaurants and retail.
      2480 NW Vaughn St, Portland, OR 97210
      View Details
    • $6,146,000
      28,487 SF

      NW Portland Industrial Warehouse

      28,487 SF Warehouse, Excellent Location
      3460 Industrial St, Portland, OR 97210
      View Details
    • Contact for pricing
      101,270 SF

      NW Portland Industrial Warehouse

      101,270 SF Vacant Warehouse, Modernized
      2720 35Th Ave, Portland, OR 97210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      Adaptable Flex Space with Warehouse

      Flexible floor plan with warehouse space and quality finishes.
      2304-2314 NW Savier St, Portland, OR 97210
      View Details
    • $3,200,000
      14,000 SF

      Industrial Warehouse Space Available

      14,000 SF warehouse space for rent in Portland, OR.
      2250 NW 22Nd Ave, Portland, OR 97210
      View Details
    • Contact for pricing
      195,342 SF

      NW Yeon Avenue Warehouse Space

      195,000 SF warehouse with office space for sublease.
      3601-3621 NW Yeon Ave, Portland, OR 97210
      View Details
    • Contact for pricing
      22,500 SF

      Industrial Warehouse Near Downtown Portland

      210,000 SF industrial warehouse with freeway access.
      3571-3599 NW Yeon Ave, Portland, OR 97210
      View Details
    • Contact for pricing
      28,000 SF

      Northwest York Street Flex Space

      Flex and industrial space available in Portland, Oregon.
      2110 Northwest York St, Portland, OR 97210
      View Details
    • $0.75 SF/Yr
      3,860 SF

      Warehouse Space with Loading Door

      Warehouse space featuring a loading door and off-street parking.
      2765 NW Nicolai St, Portland, OR 97210
      View Details
    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.
    2187 Reed St
    Portland, OR 97210-2104
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.