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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1018 Morrison St Portland, OR 97205

    • Retail space
    • 11,252 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2024
    Value Estimations
    $4,840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0503759
    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

    • Retail space

    Property Details for 1018 Morrison St

    Year built
    1910
    Lot size
    0.31 lot acres
    Property size
    11,252 SF
    Zone code
    CXD
    Property type
    Retail space
    APN
    1N1E33DD 04800
    APU
    1N1E33DD04800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,840,000
      Market price range: $2.00M - $4.84M
      AI Estimate
      $4,840,000
      Market price range: $2.00M - $4.84M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,380,000
      Current use
      RESTAURANT
      $3,855,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,435,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $3,400,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $3,250,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,240,000
      Change: -4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,990,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.683
    Latitude
    45.5198
    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
    $41,626
    $0.00
    $0.00
    $1,572,350
    -
    $3,350,220
    $453,410
    $3,803,630

    Comparable in this City

    • Value Estimation
      $7,810,000
      44,000 SF

      902 Yamhill St, Unit 918

      RETAIL STORES (PERSONAL SERVICES) • 44,000 SF
      902 Yamhill St, Portland, OR 97205-2531
      View Details
    • Value Estimation
      $3,380,000
      10,000 SF

      1122 Alder St, Unit 1136

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      1122 Alder St, Portland, OR 97205-2201
      View Details
    • Value Estimation
      $1,780,000
      10,000 SF

      925 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      925 10th Ave, Portland, OR 97205-2402
      View Details
    • Value Estimation
      $3,550,000
      20,000 SF

      802 10th Ave, Unit 820

      RETAIL STORES (PERSONAL SERVICES) • 20,000 SF
      802 10th Ave, Portland, OR 97205-2519
      View Details
    • Value Estimation
      $7,405,000
      20,000 SF

      822 10th Ave, Unit 838

      RETAIL STORES (PERSONAL SERVICES) • 20,000 SF
      822 10th Ave, Portland, OR 97205-2519
      View Details
    • Value Estimation by Request
      17,290 SF

      622 Alder St

      RETAIL STORES (PERSONAL SERVICES) • 17,290 SF
      622 Alder St, Portland, OR 97205-3616
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,605 SF

      Redevelopment Opportunity in Central Business District

      Rare redevelopment opportunity in Portland's bustling retail core.
      731 SW Morrison St, Portland, OR 97205
      View Details
    • $129,000
      464 SF

      Historic Goose Hollow Studio Apartment

      Charming studio with vintage details in prime location.
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      Three-building apartment complex in desirable Goose Hollow neighborhood.
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    • $339,000

      Goose Hollow Condo with City Views

      Top-floor condo with city views, close to amenities and transportation.
      1234 SW 18Th Ave, Portland, OR 97205
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    • $419,000

      Eliot Tower Downtown Living

      Downtown Portland condo near cultural attractions with premier amenities.
      1221 SW 10Th Ave, Portland, OR 97205
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    • $1,745,000
      3,321 SF

      Portland Multifamily Investment Opportunity

      Two adjacent properties with seven units in a prime location.
      839 SW Green Ave, Portland, OR 97205
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    Similar Nearby for Lease

    • Contact for pricing
      35,232 SF

      West End Retail Space Available

      Prime Portland location, 4,399 sq ft storefront.
      1111 Washington St, Portland, OR 97205
      View Details
    • Contact for pricing
      2,526 SF

      Downtown Portland Retail Gem

      High-end boutique space available.
      522 Broadway, Portland, OR 97205
      View Details
    • Contact for pricing
      1,990 SF

      Retail Space with Office Rooms

      Retail space featuring reception area, office and conference rooms.
      1110 SW Salmon St, Portland, OR 97205
      View Details
    • $1,750 /Mo
      1,890 SF

      Retail Space in CBD Portland

      Move-in ready retail spaces in Portland's central business district.
      714-740 SW Washington St, Portland, OR 97205
      View Details
    • Contact for pricing
      34,300 SF

      Downtown Portland Retail Space Available

      Prime retail location in the heart of Downtown Portland.
      921-998 SW Morrison St, Portland, OR 97205
      View Details
    • $17 SF/Yr
      9,668 SF

      Prime Retail Space Downtown Portland

      Rare retail opportunity near hotels and upcoming public market.
      800 SW Washington St, Portland, OR 97205
      View Details
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    1018 Morrison St
    Portland, OR 97205
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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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