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    22876 Highway 213 Oregon City, OR 97045

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    For Sale
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    19 Acres, Craftsman Home, Water Rights

    Property Features for 22876 Highway 213

    General Information

    Property type
    Land
    Lot Size
    827,640 SF

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    Listing Contact
    Aimee Davis
    Aimee Davis

    Listing Agency: Firefly Real Estate Listing Agent: Aimee Davis

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

    Learn more

    Overview

    This exceptional 19-acre property in Oregon City's Carus area presents a unique opportunity. The offering includes a charming 3,348+/- square foot Craftsman home built in 1925, boasting classic design elements such as fir floors, built-ins, and detailed wood trim. The home features four spacious bedrooms, two bathrooms, and an office, complemented by a formal living and dining room with a fireplace. Modern updates blend seamlessly with the historical charm. The expansive acreage includes pastures, a large powered shop, barn, smaller storage buildings, and animal sheds, some fencing, and fruit and shade trees. The property also features a gigantic front porch, a sun porch, and a basement with exterior access. A hardship manufactured home may be included, subject to county approval. Certified water rights are available. Located at 22876 South Highway 213, Oregon City, OR 97045, this property offers excellent road frontage at the corner of Kirk Road and Highway 213, making it ideal for hobby farming, agricultural pursuits, or simply enjoying the serene country setting. The property is zoned EFU and is owned by an LLC. The asking price is $1,200,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel HVAC Service Garden Center Travel Agency Bed & Breakfast Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Oregon City
    County
    Clackamas
    State
    Oregon
    Longitude
    -122.5686275
    Latitude
    45.2746556

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    FAQs

    What type of property is this?
    Land - 19 Acres, Craftsman Home, Water Rights
    Where is this land located?
    The property is located at 22876 Highway 213 Oregon City, OR.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 19-acre property in Oregon City's Carus area, zoned EFU.; Charming 3,348+ sq ft Craftsman home (1925), 4 bedrooms, 2 baths, office, updated.; Extensive acreage with pastures, large shop, barn, storage buildings, and sheds.
    (503) 752-6966 Call to check price and availability
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    22876 Highway 213 Oregon City, OR 97045
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    Oregon City, OR 97045
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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
    22876 Highway 213 Oregon City, OR 97045
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    Contact for Pricing
    Please call us for current price
    and status of this listing Aimee Davis
    Aimee Davis
    Real Estate License ID: ORE990100198
    (503) 752-6966 (503) 829-8328
    Learn more
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