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    13635 Cornell Rd Portland, OR 97229

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    13635 Cornell Rd Portland, OR 97229

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    • Office properties & Spaces
    • 9,898 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • R P Herman & Associates / Real Estate Agency
    • VIP Hospitality Group / Property Management Company
    • Nari Clemons Physical Therapist (portland pelvic therapy) / Physician
    • TheHomeMag Northwest / Publishing House
    • WestOne Property / Real Estate Agency

    Property Details for 13635 Cornell Rd

    Property size
    9,898 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional executive office space, located at 13635 NW Cornell Rd in Portland, Oregon's Washington County, offers a fantastic ground floor lease opportunity. The property totals 9,898 square feet and features a traditional private office buildout, perfect for businesses seeking a professional and efficient workspace. Currently, there are two suites available, with a minimum divisible space of 1,235 square feet and a maximum contiguous space of 3,145 square feet. A total of 4,380 square feet is currently vacant and ready for immediate occupancy, with availability beginning July 2024. Each suite includes a private office, open work area, and a convenient storage room, providing ample space for various business needs. The property's address is 13635 NW Cornell Rd, Portland, OR 97229. This location offers easy access to major transportation routes and amenities, making it an ideal choice for businesses seeking a strategic location within Portland. The building's design provides a professional and welcoming environment, perfect for fostering productivity and collaboration. Contact us today to schedule a viewing and secure your ideal office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.817
    Latitude
    45.5288

    Comparable in this City

    • Value Estimation
      $780,000
      3,690 SF

      13865 Cornell Rd

      OFFICE (GENERAL) • 3,690 SF
      13865 Cornell Rd, Portland, OR 97229-5402
      View Details
    • Value Estimation by Request
      1,540 SF

      13905 Cornell Rd

      OFFICE (GENERAL) • 1,540 SF
      13905 Cornell Rd, Portland, OR 97229-5404
      View Details
    • Value Estimation by Request
      0.62 Acres

      15285 Central Dr

      OFFICE (GENERAL) • 0.62 Acres
      15285 Central Dr, Portland, OR 97229-0973
      View Details
    • Value Estimation
      $24,325,000
      61,820 SF

      13910 Science Park Dr

      OFFICE (GENERAL) • 61,820 SF
      13910 Science Park Dr, Portland, OR 97229-5411
      View Details
    • Value Estimation
      $1,085,000
      5,656 SF

      1070 Murray Rd

      OFFICE (GENERAL) • 5,656 SF
      1070 Murray Rd, Portland, OR 97229-5568
      View Details
    • Value Estimation
      $950,000
      3,360 SF

      13405 Cornell Rd

      OFFICE (GENERAL) • 3,360 SF
      13405 Cornell Rd, Portland, OR 97229-5895
      View Details

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      Portland Land Parcel For Sale

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      NW Glenridge Land For Sale

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    Similar Nearby for Lease

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      Medical Office Space in Portland

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      Medical Office in Forest Heights

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      Office Space with Natural Light

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      Single Tenant Office Space

      Office space available for single tenant occupancy.
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      Traditional Office Space Available

      Ground floor office space with private offices and open area.
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    13635 Cornell Rd
    Portland, OR 97229
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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
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    13635 Cornell Rd, Portland, OR, 97229

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