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    Property profile & analytics

    1217 11th Ave Portland, OR 97205-2012

    • Apartment buildings
    • 18,720 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $4,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0180010
    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

    • Empire Apartments / Apartment Building

    Property Details for 1217 11th Ave

    Year built
    1924
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    18,720 SF
    Zone code
    RXD
    Property type
    Apartment buildings
    APN
    1S1E04AA 05400
    APU
    1S1E04AA05400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,350,000
      Market price range: $2.98M - $7.40M
      AI Estimate
      $4,350,000
      Market price range: $2.98M - $7.40M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,975,000
      Current use
      RESTAURANT
      $6,410,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,715,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $5,655,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $5,620,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $5,410,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $5,390,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.685
    Latitude
    45.5167
    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
    $42,240
    $0.00
    $0.00
    $1,595,530
    -
    $1,823,260
    $5,356,300
    $7,179,560

    Comparable in this City

    • Value Estimation
      $8,090,000
      28,480 SF

      761 Vis Ave, Unit 805

      APARTMENT HOUSE (5+ UNITS) • 28,480 SF
      761 Vis Ave, Portland, OR 97205-1260
      View Details
    • Value Estimation
      $5,300,000
      33,320 SF

      623 Park Ave

      APARTMENT HOUSE (5+ UNITS) • 33,320 SF
      623 Park Ave, Portland, OR 97205-3104
      View Details
    • Value Estimation
      $27,280,000
      171,560 SF

      1725 Salmon St

      APARTMENT HOUSE (5+ UNITS) • 171,560 SF
      1725 Salmon St, Portland, OR 97205-3867
      View Details
    • Value Estimation
      $4,105,000
      24,080 SF

      1126 12th Ave

      APARTMENT HOUSE (5+ UNITS) • 24,080 SF
      1126 12th Ave, Portland, OR 97205-2045
      View Details
    • Value Estimation
      $7,975,000
      50,160 SF

      1207 Broadway

      APARTMENT HOUSE (5+ UNITS) • 50,160 SF
      1207 Broadway, Portland, OR 97205-2915
      View Details
    • Value Estimation
      $4,495,000
      17,774 SF

      411 12th Ave, Unit 417

      APARTMENT HOUSE (5+ UNITS) • 17,774 SF
      411 12th Ave, Portland, OR 97205-2337
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Goose Hollow Multifamily Investment

      Three-building apartment complex in desirable Goose Hollow neighborhood.
      1814-1820 SW 18Th Ave, Portland, OR 97205
      View Details
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      3,321 SF

      Portland Multifamily Investment Opportunity

      Two adjacent properties with seven units in a prime location.
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      Iconic Park Vista Co-Op

      Portland Co-Op offers architectural history and modern convenience.
      2323 SW Park Pl, Portland, OR 97205
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      8,291 SF

      Goose Hollow Apartment Complex

      Nine-unit Portland apartment building, high potential.
      1814-1820 18Th Ave, Portland, OR 97205
      View Details
    • $484,900
      1,471 SF

      Goose Hollow Condo with Balconies

      Modern condo in Goose Hollow near downtown Portland with three balconies.
      1234 SW 18Th Ave, Portland, OR 97205
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      Condo Steps From Washington Park

      Ground-level condo near Washington Park with modern amenities and community.
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    Similar Nearby for Lease

    • Contact for pricing
      10,030 SF

      Downtown Portland Retail Space

      Prime West End location, 3 suites available
      1140 Washington 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
    • $4,500 /Mo
      3,432 SF

      Classic Downtown Portland Office Space

      Landmark office building in downtown Portland available for rent.
      1101 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
    • $27 SF/Yr
      2,699 SF

      Medical Office Space Available

      Equipped medical office space with city views for lease.
      833 SW 11Th Ave, Portland, OR 97205
      View Details
    • Contact for pricing
      3,269 SF

      Historic Office Space with Charm

      Charming historic office space in excellent location with full build-out.
      714 SW 20Th Pl, Portland, OR 97205
      View Details
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    1217 11th Ave
    Portland, OR 97205-2012
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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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