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    Property profile & analytics

    5205 18Th Ave Portland, OR 97202

    • Commercial real estate
    For Sale
    View listing
    $2,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0159399
    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 5205 18Th Ave

    Property type
    Commercial real estate

    Description

    This exceptional 10,000 square foot development site in Portland, Oregon's desirable Sellwood-Moreland neighborhood presents a unique opportunity for immediate construction of a 59-unit multifamily building. Located at 5205 SE 18th Ave, Portland, OR 97202, this fee simple property is zoned RH (Residential High Density), offering significant potential for high-density residential development. All necessary permits have been issued and paid for, significantly reducing upfront costs and timelines. Erosion control measures are already in place and inspected, streamlining the construction process. The site benefits from locked-in 2019 System Development Charges (SDC) rates and existing deferral agreements, providing substantial savings compared to current 2024 rates and eliminating the need to navigate updated fire and life safety requirements. Comprehensive plans, engineering documents, and all necessary entitlements are included with the sale. The property's proximity to the MAX Light Rail station further enhances its appeal and potential rental income. With interest rates declining and multifamily demand surging, this is an exceptional opportunity to capitalize on the current market conditions and begin construction immediately upon closing. Anticipated low new multifamily construction starts in 2025 and projected exceptional rent growth in the coming years make this a compelling investment.

    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
    -122.647661
    Latitude
    45.485117

    Comparable in this City

    • $3,000,000

      Sellwood Multifamily Development Opportunity

      Permit-ready, 38-unit potential, prime location.
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      835 SF

      Modern Condo in Sellwood-Moreland

      2-bedroom, 2.1-bathroom condo with modern style and private fenced yard.
      1662 SE Umatilla St, Portland, OR 97202
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      Modern Condo in Brooklyn Neighborhood

      Three-bedroom condo in a prime location with high-end finishes.
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    • $349,900

      Charming Home Near Reed College

      Home in Reed neighborhood, ideal for student housing or investment.
      5171 SE 28Th Ave, Portland, OR 97202
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      Charming Sellwood-Moreland Living

      Thoughtfully designed home in a vibrant, walkable Portland neighborhood.
      2081 SE Harold St, Portland, OR 97202
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    • $349,900

      Stylish Condo in Sellwood-Moreland

      Thoughtfully designed condo in a vibrant Portland neighborhood.
      2075 SE Harold St, Portland, OR 97202
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    Similar Nearby for Sale

    • $3,000,000

      Sellwood Multifamily Development Opportunity

      Permit-ready, 38-unit potential, prime location.
      1269 Tenino St, Portland, OR 97202
      View Details
    • $379,900
      835 SF

      Modern Condo in Sellwood-Moreland

      2-bedroom, 2.1-bathroom condo with modern style and private fenced yard.
      1662 SE Umatilla St, Portland, OR 97202
      View Details
    • $399,900

      Modern Condo in Brooklyn Neighborhood

      Three-bedroom condo in a prime location with high-end finishes.
      4073 SE Milwaukie Ave, Portland, OR 97202
      View Details
    • $349,900

      Charming Home Near Reed College

      Home in Reed neighborhood, ideal for student housing or investment.
      5171 SE 28Th Ave, Portland, OR 97202
      View Details
    • $369,900

      Charming Sellwood-Moreland Living

      Thoughtfully designed home in a vibrant, walkable Portland neighborhood.
      2081 SE Harold St, Portland, OR 97202
      View Details
    • $349,900

      Stylish Condo in Sellwood-Moreland

      Thoughtfully designed condo in a vibrant Portland neighborhood.
      2075 SE Harold St, Portland, OR 97202
      View Details

    Similar Nearby for Lease

    • $19,340,640

      Waterfront Land for Lease

      2.96 acres of land with waterfront access and dock options.
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    • $24 SF/Yr
      2,335 SF

      Portland Retail Spaces For Lease

      Prime Portland retail, two spaces available.
      1100 Division St, Portland, OR 97202
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    • $28 SF/Yr
      1,333 SF

      Prime Portland Office Space

      1333 sq ft Executive Office, Ample Parking
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      12,000 SF

      Brooklyn Industrial Space For Rent

      Centrally located industrial space with parking in SE Portland.
      3365 Southeast 17Th Ave, Portland, OR 97202
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      1,100 SF

      Retail Space Available For Rent

      Move-in ready retail, cafe, or production space available for rent.
      3840-3848 SE Gladstone St, Portland, OR 97202
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    • Contact for pricing

      Central Eastside Industrial Warehouse Space

      Warehouse in desirable Central Eastside District with easy access.
      3365 SE 20Th Ave, Portland, OR 97202
      View Details
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    5205 18Th Ave
    Portland, OR 97202
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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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