Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    111 6th Ave Portland, OR 97232-2969

    • Apartment buildings
    • 61,327 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $24,230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0731635
    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

    • Central Eastside Lofts / Apartment Building
    • AquaJazz / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Ceilume Ceiling Showroom / Big Box & Wholesale Store / Building Supply
    • Range Meal Bars / Bar & Pub
    • Safe & Sound Bookkeeping / Accounting Firm

    Property Details for 111 6th Ave

    Year built
    2011
    Lot size
    0.46 lot acres
    Property size
    61,327 SF
    Zone code
    EX
    Property type
    Apartment buildings
    APN
    1N1E35CB 04301
    APU
    1N1E35CB04301

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $24,228,000
      Market price range: $9.75M - $24.2M
      AI Estimate
      $24,228,000
      Market price range: $9.75M - $24.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $16,305,000
      Current use
      RESTAURANT
      $21,000,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $19,805,000
      Change: +21% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $18,725,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $18,525,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $18,410,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $17,725,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.66
    Latitude
    45.524
    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
    $236,555
    $0.00
    $0.00
    $8,927,050
    -
    $2,040,310
    $22,197,050
    $24,237,360

    Comparable in this City

    • Value Estimation
      $24,570,000
      69,596 SF

      521 16th Ave

      APARTMENT HOUSE (5+ UNITS) • 69,596 SF
      521 16th Ave, Portland, OR 97232-3591
      View Details
    • Value Estimation
      $5,160,000
      32,460 SF

      630 23rd Ave

      APARTMENT HOUSE (5+ UNITS) • 32,460 SF
      630 23rd Ave, Portland, OR 97232-2877
      View Details
    • Value Estimation
      $3,170,000
      15,120 SF

      1526 14th Ave

      APARTMENT HOUSE (5+ UNITS) • 15,120 SF
      1526 14th Ave, Portland, OR 97232-1401
      View Details
    • Value Estimation
      $2,695,000
      12,794 SF

      2222 Wasco St, Unit 2250

      APARTMENT HOUSE (5+ UNITS) • 12,794 SF
      2222 Wasco St, Portland, OR 97232-1621
      View Details
    • Value Estimation
      $5,450,000
      22,820 SF

      2421 Irving St

      APARTMENT HOUSE (5+ UNITS) • 22,820 SF
      2421 Irving St, Portland, OR 97232-2378
      View Details
    • Value Estimation
      $14,770,000
      43,991 SF

      105 Multnomah St

      APARTMENT HOUSE (5+ UNITS) • 43,991 SF
      105 Multnomah St, Portland, OR 97232-2032
      View Details

    Similar Nearby for Sale

    • $900,000
      3,436 SF

      Cascade Crest: Portland Multifamily

      Five-unit apartment building, strong NOI.
      2610-2618 Clackamas St, Portland, OR 97232
      View Details
    • Contact for pricing

      Historic Aircraft Factory Redevelopment Opportunity

      Unique Portland redevelopment site with highway visibility and flexible zoning.
      3300 NE Broadway St, Portland, OR 97232
      View Details
    • New
      $890,000
      2,472 SF

      Kerns Duplex with Charm

      Charming Kerns duplex with original hardwood floors and shared backyard.
      3136 NE Couch St, Portland, OR 97232
      View Details
    • $978,000

      Former Senior Care Facility

      Former senior care facility ideal for multifamily and senior living.
      34 NE 20Th Ave, Portland, OR 97232
      View Details
    • $8,250,000
      38,693 SF

      Downtown Portland Hotel - 80 Rooms

      Portland hotel, 80 rooms, prime location.
      431 NE Multnomah St, Portland, OR 97232
      View Details
    • $899,000
      3,338 SF

      NE Broadway Portland Office Building

      Stabilized Multi-Tenant Office Building in Portland
      2931 Broadway, Portland, OR 97232
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,270 SF

      Merrick Building: Portland Retail Space

      Prime Portland retail, restaurant opportunity. Multiple suites available.
      1211-1223 Martin Luther King Jr Blvd, Portland, OR 97232
      View Details
    • Contact for pricing
      2,650 SF

      Retail Space with Modern Interior

      Well-kept retail space with excellent signage and easy access.
      1444-1448 NE Weidler St, Portland, OR 97232
      View Details
    • $1.00 SF/Yr
      10,200 SF

      NE Halsey St Retail Space

      10,200 SF Retail/Education Space. Portland, OR.
      711 Halsey St, Portland, OR 97232
      View Details
    • $30 SF/Yr
      3,419 SF

      Portland Retail Space For Lease

      Prime Portland retail, multiple spaces available.
      1448 Weidler St, Portland, OR 97232
      View Details
    • $12 SF/Yr
      12,500 SF

      Prime Portland Warehouse Space

      12,500 SF Warehouse - Eastside Portland
      710 21St Ave, Portland, OR 97232
      View Details
    • $16 SF/Yr
      30,000 SF

      Portland Commissary Kitchen for Sale

      Prime Food Production Space Available
      2120 Oregon St, Portland, OR 97232
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    111 6th Ave
    Portland, OR 97232-2969
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!