Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1229 Adair St Cornelius, OR 97113-8914
    Property profile & analytics

    1229 Adair St Cornelius, OR 97113-8914

    View on Map
    • Commercial real estate
    • 1,394 SF
    • 0.13 lot acres
    Off-Market
    Property ID
    US71-0664051
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bunny Girt - State Farm Insurance Agent / Insurance Agency
    • State Farm / Insurance Agency

    Property Details for 1229 Adair St

    Year built
    1998
    Construction
    WOOD FRAME
    Lot size
    0.13 lot acres
    Property size
    1,394 SF
    Zone code
    CMU
    Property type
    Commercial real estate
    APN
    1N333DD-07900
    APU
    1N333DD07900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Washington
    State
    Oregon
    Longitude
    -123.057
    Latitude
    45.5207
    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
    $1,015
    $0.00
    $0.00
    $58,540
    -
    $218,060
    $76,280
    $294,340

    Comparable in this City

    • Value Estimation by Request
      0.84 Acres

      Cornelius, OR 97113

      COMMERCIAL (GENERAL) • 0.84 Acres
      Cornelius, OR 97113
      View Details
    • Value Estimation by Request
      1,144 SF

      87 14th Ave

      COMMERCIAL (GENERAL) • 1,144 SF
      87 14th Ave, Cornelius, OR 97113-8812
      View Details
    • Value Estimation by Request
      1.89 Acres

      1800 Barlow St

      COMMERCIAL (GENERAL) • 1.89 Acres
      1800 Barlow St, Cornelius, OR 97113-8718
      View Details
    • Value Estimation
      $875,000
      3,119 SF

      2800 Baseline St

      COMMERCIAL (GENERAL) • 3,119 SF
      2800 Baseline St, Cornelius, OR 97113-4604
      View Details
    • Value Estimation by Request
      5.82 Acres

      10615 Milne Rd

      COMMERCIAL (GENERAL) • 5.82 Acres
      10615 Milne Rd, Cornelius, OR 97113
      View Details
    • Value Estimation by Request
      0.09 Acres

      Cornelius, OR 97113

      COMMERCIAL (GENERAL) • 0.09 Acres
      Cornelius, OR 97113
      View Details

    Similar Nearby for Sale

    • $470,000

      High Exposure Retail Land Available

      Land for sale with high traffic exposure and permitted uses.
      Baseline St, Cornelius, OR 97113
      View Details
    • Contact for pricing
      3,989 SF

      Retail Land with Redevelopment Potential

      High-exposure retail land with redevelopment potential in Cornelius, Oregon.
      2761 Baseline St, Cornelius, OR 97113
      View Details
    • Contact for pricing

      High Exposure Retail Land Available

      Retail land for sale with high traffic exposure.
      Cornelius, OR 97113
      View Details
    • $2,295,000
      17,600 SF

      Cornelius, OR: 40 Acres Riverfront Estate

      Luxury Estate: Riverfront, Mountain Views, Business Potential
      3995 Lafollett Rd, Cornelius, OR 97113
      View Details
    • Contact for pricing
      154,646 SF

      New Industrial Building For Sale

      154,646 SF industrial building 100% leased in Cornelius, OR.
      N 4Th Ave, Cornelius, OR 97113
      View Details
    • $470,000

      Retail Land For Sale

      High exposure retail land with redevelopment potential.
      2761 Baseline St, Cornelius, OR 97113
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Pad Site For Lease

      1.86 AC commercial pad site anchored by Fred Meyer.
      N Davis St, Cornelius, OR 97113
      View Details
    • Contact for pricing
      58,500 SF

      Cornelius Warehouse Space Available

      Insulated warehouse with new LED lighting and employee breakroom.
      495 N Holladay St, Cornelius, OR 97113
      View Details
    • Contact for pricing

      Retail Space in Cornelius Center

      Retail suites available in Fred Meyer-anchored shopping center in Cornelius.
      2200 E Baseline St, Cornelius, OR 97113
      View Details
    • Contact for pricing

      Retail Suites in Cornelius, OR

      Retail suites available in Fred Meyer-anchored center in Cornelius, OR.
      2200 E Baseline St, Cornelius, OR 97113
      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.
    1229 Adair St
    Cornelius, OR 97113-8914
    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

    Thank You for Inquiry
    1229 Adair St, Cornelius, OR, 97113
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!