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

    1217 122nd Ave Portland, OR 97230-2067

    • Apartment buildings
    • 33,998 SF
    • 1.26 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2022
    $5,760,000
    Value Estimations
    $5,530,000
    Show details
    Cap Rate Potential
    8.2%
    Apartment buildings
    Location Intelligence
    Property ID
    US71-0123846
    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

    • Highlander Apartments / Apartment Building
    • Hammersmith Tom / Construction Company

    Property Details for 1217 122nd Ave

    Year built
    1960
    Lot size
    1.26 lot acres
    Property size
    33,998 SF
    Zone code
    R3A
    Property type
    Apartment buildings
    APN
    1N2E34AA 02700
    APU
    1N2E34AA02700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,275,000
      6.5%
      $6,715,000
      7%
      $6,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,406,000
      Market price range: $5.41M - $13.4M
      AI Estimate
      $5,406,000
      Market price range: $5.41M - $13.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $9,040,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.538
    Latitude
    45.5315
    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
    $38,940
    $0.00
    $0.00
    $1,656,780
    -
    $1,375,080
    $3,929,050
    $5,304,130

    Comparable in this City

    • Value Estimation
      $13,735,000
      79,242 SF

      17899 Oregon St

      APARTMENT HOUSE (5+ UNITS) • 79,242 SF
      17899 Oregon St, Portland, OR 97230-6573
      View Details
    • Value Estimation
      $7,625,000
      28,228 SF

      1111 122nd Ave

      APARTMENT HOUSE (5+ UNITS) • 28,228 SF
      1111 122nd Ave, Portland, OR 97230-2050
      View Details
    • Value Estimation
      $3,980,000
      10,068 SF

      4419 131st Pl, Unit 4439

      APARTMENT HOUSE (5+ UNITS) • 10,068 SF
      4419 131st Pl, Portland, OR 97230-1475
      View Details
    • Value Estimation
      $2,065,000
      5,227 SF

      141 147th Ave

      APARTMENT HOUSE (5+ UNITS) • 5,227 SF
      141 147th Ave, Portland, OR 97230-4260
      View Details
    • Value Estimation
      $9,420,000
      41,880 SF

      17062 Halsey St

      APARTMENT HOUSE (5+ UNITS) • 41,880 SF
      17062 Halsey St, Portland, OR 97230-6176
      View Details
    • Value Estimation
      $590,000
      2,116 SF

      1020 Wi Ne 183rd Ave

      APARTMENT HOUSE (5+ UNITS) • 2,116 SF
      1020 Wi Ne 183rd Ave, Portland, OR 97230
      View Details

    Similar Nearby for Sale

    • New
      $725,000
      0.33 Acres

      Portland Fourplex with Garage Parking

      Well-maintained fourplex with updated features and month-to-month leases.
      1267 NE 183Rd Ave, Portland, OR 97230
      View Details
    • $560,000
      2,496 SF

      Townhouse-Style Triplex in Portland

      Charming triplex with fireplaces, patios, and convenient location.
      15 NE 127Th Ave, Portland, OR 97230
      View Details
    • $499,900
      1,728 SF

      Portland Duplex with Tenant

      Owner-occupied duplex with tenant, updated features, and security system.
      35 NE 157Th Ave, Portland, OR 97230
      View Details
    • $349,999
      0.28 Acres

      Remodeled Home Near Glendoveer Golf

      Remodeled 2-bedroom home on oversized lot near Glendoveer Golf.
      15412 NE Halsey St, Portland, OR 97230
      View Details
    • Contact for pricing

      Gresham Land Development Opportunity

      1.58 acre site zoned CMU in Gresham, Oregon.
      Apn R321760, Portland, OR 97230
      View Details
    • Contact for pricing

      Gresham Industrial Buildings For Sale

      Industrial buildings in Gresham Enterprise Zone with E-Commerce overlay.
      3003 NE 172Nd Pl, Gresham, OR 97230
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      216,696 SF

      Portland Industrial Warehouse For Lease

      Gresham warehouse, 2 buildings, 216,696 SF
      0 Airport Way, Gresham, OR 97230
      View Details
    • Contact for pricing

      Development Site Near Freeways

      3.4 acre industrial development site near I-205 and I-84.
      NE Mason St, Portland, OR 97230
      View Details
    • Contact for pricing
      7,248 SF

      Retail Space in Midway Plaza

      Retail space for lease in a busy shopping center.
      2510-2626 SE 122Nd Ave, Portland, OR 97230
      View Details
    • Contact for pricing
      7,322 SF

      Retail Space with High Visibility

      Retail space with ample parking and high traffic counts.
      12301-12434 NE Glisan St, Portland, OR 97230
      View Details
    • Contact for pricing

      Class A Office Building

      Three-story Class A office building near Portland Airport and I-205.
      5933 NE Win Sivers Dr, Portland, OR 97230
      View Details
    • Contact for pricing

      Industrial Flex Space on Airport

      Industrial flex space with freeway access on Airport Way.
      14325 NE Airport Way, Portland, OR 97230
      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.
    1217 122nd Ave
    Portland, OR 97230-2067
    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!