Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    11850 Ctr Ave Portland, OR 97217-7830
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11850 Ctr Ave Portland, OR 97217-7830

    View on Map
    • Retail space
    • 1,530 SF
    • 0.42 lot acres
    Off-Market
    Property ID
    US71-1079347
    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.
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Recycle Star / Waste Management Facility / Hazardous Waste Disposal
    • Wild West Emporium / (Bike/Boat/Book/etc) Store
    • Denas Mexico / Marketing & Advertising / IT Consulting Firm

    Property Details for 11850 Ctr Ave

    Year built
    1974
    Lot size
    0.42 lot acres
    Property size
    1,530 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    2N1E33D 00501
    APU
    2N1E33D00501

    Description

    This exceptional 1,530 square foot retail property, located at 11850 N Center Ave in Portland, Oregon, presents a compelling investment opportunity. Built in 1974 and situated on commercially zoned land in Multnomah County (zip code 97217), the property boasts a strong lease history. Currently operating as a dispensary, the space was formerly a Rich's Cigar Shop. The current tenant is under a lease agreement expiring November 2026, with a single five-year option to renew. The monthly net rent is $8,800. The asking price for this property is $1,550,000, translating to a price per square foot of $1,013.07. This property is ideally suited for investors seeking a stable, income-generating asset in a desirable Portland location. The property's convenient location and established tenant history make it an attractive investment prospect with significant potential for future returns. The property's zoning allows for a variety of commercial uses, providing flexibility for future tenants. This is a rare opportunity to acquire a well-located, income-producing retail property in a thriving market. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $658,000
      Market price range: $272k - $658k
      AI Estimate
      $658,000
      Market price range: $272k - $658k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $460,000
      Current use
      COMMERCIAL (GENERAL)
      $625,000
      Change: +36% Conversion: Easy
      AUTO REPAIR, GARAGE
      $465,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $460,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $440,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.681
    Latitude
    45.609
    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
    $10,464
    $0.00
    $0.00
    $394,890
    -
    $658,290
    $285,990
    $944,280

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      8216 Wi N Denver Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.04 Acres
      8216 Wi N Denver Ave, Portland, OR 97217
      View Details
    • Value Estimation by Request
      1,228 SF

      5822-5824 Greeley Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,228 SF
      5822-5824 Greeley Ave, Portland, OR 97217
      View Details
    • Value Estimation by Request
      1,600 SF

      2026-2028 Kilpatrick St

      RETAIL STORES (PERSONAL SERVICES) • 1,600 SF
      2026-2028 Kilpatrick St, Portland, OR 97217
      View Details
    • Value Estimation
      $2,445,000
      5,678 SF

      1321 Hayden Is Dr, Unit 1337

      RETAIL STORES (PERSONAL SERVICES) • 5,678 SF
      1321 Hayden Is Dr, Portland, OR 97217-8145
      View Details
    • Value Estimation by Request
      1,772 SF

      6214 Interstate Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,772 SF
      6214 Interstate Ave, Portland, OR 97217-4718
      View Details
    • Value Estimation
      $510,000
      2,880 SF

      7000 Interstate Ave, Unit 7008

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      7000 Interstate Ave, Portland, OR 97217-5448
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,168 SF

      Remodeled Building in Arbor Lodge

      Refreshed building in vibrant NoPo neighborhood with live-work potential.
      5819 N Greeley Ave, Portland, OR 97217
      View Details
    • $435,000

      Retail/Office Condo with Garage

      Ground floor retail/office condo with attached garage near MAX station.
      1435 N Killingsworth St, Portland, OR 97217
      View Details
    • Contact for pricing
      16,000 SF

      Retail Space Near I-5

      16,000 SF retail space with high visibility near I-5.
      900 N Tomahawk Island Dr, Portland, OR 97217
      View Details
    • Contact for pricing
      5,203 SF

      Retail Space Near Portland College

      Retail condominium with high ceilings and multiple entrances for sale.
      700-708 N Killingsworth St, Portland, OR 97217
      View Details
    • Contact for pricing
      37,577 SF

      Jantzen Beach Retail Space

      Large retail space with on-site parking on Jantzen Beach.
      2100 N Hayden Island Dr, Portland, OR 97217
      View Details
    • Contact for pricing
      3,447 SF

      Retail Opportunity in Alberta Core

      Retail property in a high-traffic, walkable Portland neighborhood.
      1701 NE Alberta St, Portland, OR 97217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,500 SF

      Retail Space at Harbor Shops

      Retail space in premier Oregon shopping center for rent.
      11915-11995 N Center Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Janzen Beach

      Retail space available in a shopping center with freeway access.
      1555 N Tomahawk Island Dr, Portland, OR 97217
      View Details
    • Contact for pricing
      6,700 SF

      Retail Space at Harbor Shops

      Retail space at Oregon's gateway interchange on I-5.
      12105 N Center Ave, Portland, OR 97217
      View Details
    • Contact for pricing

      Freestanding Building in Prime Location

      Freestanding retail building with high ceilings and excellent access.
      4315 N Interstate Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      8,600 SF

      Jantzen Beach Retail/Flex Space

      Retail/flex building near Jantzen Beach Shopping Center with high visibility.
      1130 N Jantzen Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space with Lombard Access

      Retail property with great visibility and flexible lease terms.
      3233 N Lombard St, Portland, OR 97217
      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.
    11850 Ctr Ave
    Portland, OR 97217-7830
    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!