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    Property profile & analytics

    10502 Wasco St Portland, OR 97220-3948

    • Medical Office Space
    • 2,240 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2023
    $1,326,035
    Value Estimations
    $1,015,000
    Show details
    Cap Rate Potential
    2.2%
    Medical Office Space
    Location Intelligence
    Property ID
    US71-0035637
    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

    • Towhid Islamic Center / Mosque
    • Dr. Robert J. Chestler, MD / Ophthalmologist
    • Gateway Eye Clinic / Ophthalmologist
    • Dr. Robert F. Balen, MD / Ophthalmologist

    Property Details for 10502 Wasco St

    Year built
    1978
    Lot size
    0.30 lot acres
    Property size
    2,240 SF
    Zone code
    CXD
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1N2E34BB 03300
    APU
    1N2E34BB03300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $726,000
      Market price range: $321k - $938k
      AI Estimate
      $726,000
      Market price range: $321k - $938k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $675,000
      Current use
      AUTO REPAIR, GARAGE
      $685,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $670,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $645,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.554
    Latitude
    45.5318
    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
    $8,403
    $0.00
    $0.00
    $357,530
    -
    $325,850
    $356,700
    $682,550

    Comparable in this City

    • Value Estimation
      $855,000
      2,321 SF

      4611 102nd Ave

      MEDICAL BUILDING • 2,321 SF
      4611 102nd Ave, Portland, OR 97220-3337
      View Details
    • Value Estimation by Request
      1,652 SF

      9243 Glisan St

      MEDICAL BUILDING • 1,652 SF
      9243 Glisan St, Portland, OR 97220-4533
      View Details
    • Value Estimation
      $570,000
      2,790 SF

      11689 Glisan St, Unit 11699

      MEDICAL BUILDING • 2,790 SF
      11689 Glisan St, Portland, OR 97220-2264
      View Details
    • Value Estimation
      $1,025,000
      4,012 SF

      10420-1042 Wasco St

      MEDICAL BUILDING • 4,012 SF
      10420-1042 Wasco St, Portland, OR 97220
      View Details
    • Value Estimation
      $25,020,000
      101,709 SF

      1111 99th Ave

      MEDICAL BUILDING • 101,709 SF
      1111 99th Ave, Portland, OR 97220-9428
      View Details
    • Value Estimation
      $505,000
      3,528 SF

      1111 99th Aves

      MEDICAL BUILDING • 3,528 SF
      1111 99th Aves, Portland, OR 97220-9428
      View Details

    Similar Nearby for Sale

    • $599,000
      4,804 SF

      NE 82nd Office For Sale

      Approximately 5,000 SF office building on NE 82nd Avenue.
      3610 NE 82 Dr, Portland, OR 97220
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    • $725,000

      Class A Medical Office

      Medical office space in up-and-coming Portland neighborhood.
      2150 NE 82Nd Ave, Portland, OR 97220
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    • Contact for pricing

      Portland Office Building Investment Opportunity

      Value-add office building in Portland's Hazelwood neighborhood for sale.
      11703-11731 NE Glisan St, Portland, OR 97220
      View Details
    • Contact for pricing

      Standalone Building in Gateway Submarket

      Standalone building suitable for office, education, or religious use.
      1230 NE 106Th Ave, Portland, OR 97220
      View Details
    • $3,000,000
      8,876 SF

      Creative Office Building with Parking

      Office building with creative space, storage, and on-site parking.
      8725 NE Emerson St, Portland, OR 97220
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    • $3,825,000
      23,777 SF

      Portland Warehouse with Office Space

      23,777 SF Portland commercial property with warehouse and office.
      8900 NE Lombard St, Portland, OR 97220
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    Similar Nearby for Lease

    • $18 SF/Yr
      12,037 SF

      Halsey Building Office Space

      Portland Office Building: 14 Suites Available
      8401 Halsey St, Portland, OR 97220
      View Details
    • Contact for pricing
      22,222 SF

      Class A Medical Building

      101,709 SF Class A medical building available for rent.
      1111 Northeast 99Th Ave, Portland, OR 97220
      View Details
    • Contact for pricing
      3,336 SF

      Medical Office Space For Lease

      Medical office space available in Northeast Portland's Calista Medical Plaza.
      10373 NE Hancock St, Portland, OR 97220
      View Details
    • Contact for pricing

      Retail/Office Space with Parking

      Two-story retail/office space with parking lot and high visibility.
      10534 NE Sandy Blvd, Portland, OR 97220
      View Details
    • $26 SF/Yr

      Office Space with Private Rooms

      Office space featuring 31 private offices/exam rooms near 205.
      10535 NE Glisan St, Portland, OR 97220
      View Details
    • Contact for pricing
      13,733 SF

      Available Office Space Near Airport

      13,733 sq. ft. office space with excellent access.
      11729 NE Glenn Widing Dr, Portland, OR 97220
      View Details
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    Portland, OR 97220-3948
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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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