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    Property profile & analytics

    12492 Main St Portland, OR 97223-6113

    • Retail space
    • 3,710 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $1,330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0882432
    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

    • La parrilla Tigard / Restaurant

    Property Details for 12492 Main St

    Year built
    1957
    Lot size
    0.28 lot acres
    Property size
    3,710 SF
    Zone code
    MU-CBD
    Property type
    Retail space
    APN
    2S102AC-00500
    APU
    2S102AC00500

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,329,000
      Market price range: $659k - $1.60M
      AI Estimate
      $1,329,000
      Market price range: $659k - $1.60M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,115,000
      Current use
      AUTO REPAIR, GARAGE
      $1,135,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $1,120,000
      Change: +1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,075,000
      Change: -3% Conversion: Easy
      OFFICE BUILDING
      $1,070,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.772
    Latitude
    45.4296
    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
    $6,871
    $0.00
    $0.00
    $390,380
    -
    $318,650
    $696,320
    $1,014,970

    Comparable in this City

    • Value Estimation by Request
      3,080 SF

      11565 Pacific Hwy

      Individual retail properties • 3,080 SF
      11565 Pacific Hwy, Tigard, OR 97223
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    • Value Estimation
      $3,720,000
      20,967 SF

      13920 Pacific Hwy

      RETAIL STORES (PERSONAL SERVICES) • 20,967 SF
      13920 Pacific Hwy, Portland, OR 97223-4839
      View Details
    • Value Estimation
      $2,370,000
      9,520 SF

      11674 Pacific Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,520 SF
      11674 Pacific Hwy, Portland, OR 97223-8675
      View Details
    • Value Estimation
      $5,760,000
      13,395 SF

      13115 Pacific Hwy

      RETAIL STORES (PERSONAL SERVICES) • 13,395 SF
      13115 Pacific Hwy, Portland, OR 97223-5036
      View Details
    • Value Estimation
      $4,315,000
      10,029 SF

      8795 Scholls Fry Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,029 SF
      8795 Scholls Fry Rd, Portland, OR 97223-4409
      View Details
    • Value Estimation
      $3,200,000
      12,022 SF

      7700 Dartmouth St

      RETAIL STORES (PERSONAL SERVICES) • 12,022 SF
      7700 Dartmouth St, Portland, OR 97223-8180
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,760 SF

      Retail Property on Hwy 99W

      Retail property with frontage on Hwy 99W, near I-5.
      13015 SW Pacific Hwy, Portland, OR 97223
      View Details
    • Contact for pricing

      Tigard Retail Investment Opportunity

      Multi-tenant retail property with development potential in Tigard, Oregon.
      11642 SW Pacific Hwy, Tigard, OR 97223
      View Details
    • $1,275,000
      3,436 SF

      Turnkey Building in Prime Location

      Updated, multi-occupant building suitable for office or retail use.
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    • $4,200,000

      Wells Fargo Pad Opportunity

      Fully leased pad site near Washington Square Mall.
      9210 SW Washington Square Rd, Tigard, OR 97223
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      7,500 SF

      Single Tenant Investment Site

      Freestanding building in Tigard with 24 parking spaces.
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      Renovated Office Building in Tigard

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    Similar Nearby for Lease

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      1,823 SF

      Retail Space in Tigard Center

      Shadow-anchored retail space in a densely populated Tigard location.
      14250 SW Barrows Rd, Portland, OR 97223
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      4,814 SF

      Retail Space on Pacific Highway

      Retail space with high traffic and ample parking.
      11511-11535 SW Pacific Hwy, Tigard, OR 97223
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    • Contact for pricing
      2,400 SF

      Retail Pad with Drive-Thru Potential

      Retail space with drive-thru options available for lease.
      8860 SW Hall Blvd, Portland, OR 97223
      View Details
    • $16 SF/Yr
      1,649 SF

      Retail Space on Highway 99W

      Retail space with high visibility near major retailers.
      11642 SW Pacific Hwy, Portland, OR 97223
      View Details
    • Contact for pricing
      6,284 SF

      Tigard Retail Space For Lease

      Prime Tigard storefront, multiple suites available.
      11642 Pacific Hwy, Tigard, OR 97223
      View Details
    • Contact for pricing
      5,020 SF

      Retail Space Available For Rent

      Retail space available for lease in Portland, Oregon.
      11750 SE 82Nd Ave, Portland, OR 97223
      View Details
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    12492 Main St
    Portland, OR 97223-6113
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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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