Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    13 3rd Ave Portland, OR 97209
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    13 3rd Ave Portland, OR 97209

    View on Map
    • Office properties & Spaces
    • 28,500 SF
    • 0.12 lot acres
    Off-Market
    Property ID
    US71-0878977
    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
    $9,480,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Old House Portland / Tour Operator

    Property Details for 13 3rd Ave

    Year built
    2006
    Lot size
    0.12 lot acres
    Property size
    28,500 SF
    Zone code
    CXD
    Property type
    Office properties & Spaces
    APN
    1N1E34CA 10200
    APU
    1N1E34CA10200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,480,000
      Market price range: $6.09M - $12.6M
      AI Estimate
      $9,480,000
      Market price range: $6.09M - $12.6M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $9,480,000
      Current use
      RESTAURANT
      $9,760,000
      Change: +3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $8,700,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $8,610,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $8,555,000
      Change: -10% Conversion: Easy
      OFFICE BUILDING
      $8,235,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.674
    Latitude
    45.5233
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $954,620
    $9,502,320
    $10,456,940

    Comparable in this City

    • Value Estimation by Request
      1,660 SF

      151 9Th Ave

      Coworking space • 1,660 SF
      151 9Th Ave, Portland, OR 97209
      View Details
    • Value Estimation
      $6,405,000
      30,000 SF

      239 13th Ave

      OFFICE (GENERAL) • 30,000 SF
      239 13th Ave, Portland, OR 97209-2926
      View Details
    • Value Estimation by Request
      954 SF

      1420 Lovejoy St, Unit 14A

      CONDOMINIUM OFFICES • 954 SF
      1420 Lovejoy St, Portland, OR 97209-2734
      View Details
    • Value Estimation
      $6,620,000
      31,016 SF

      221 2nd Ave

      OFFICE (GENERAL) • 31,016 SF
      221 2nd Ave, Portland, OR 97209-3958
      View Details
    • Value Estimation
      $6,405,000
      30,000 SF

      322 5th Ave, Unit 338

      OFFICE (GENERAL) • 30,000 SF
      322 5th Ave, Portland, OR 97209-3825
      View Details
    • Value Estimation
      $1,045,000
      4,235 SF

      1318 20th Ave

      OFFICE (GENERAL) • 4,235 SF
      1318 20th Ave, Portland, OR 97209-1671
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,427 SF

      NW Portland Freestanding Building

      Centrally located building near Stadium Fred Meyer and Providence Park.
      35 NW 20Th Pl, Portland, OR 97209
      View Details
    • $3,200,000

      Retail/Office Space with Parking

      2nd-generation retail/office space in desirable NW Portland location.
      636 NW 21St Ave, Portland, OR 97209
      View Details
    • $2,750,000
      39,850 SF

      Historic Portland Office Building

      39,850 SF LEED Silver certified office building for sale.
      88 NW Davis St, Portland, OR 97209
      View Details
    • Contact for pricing
      15,829 SF

      Renovated Office Building with Amenities

      Office building with riverwalk access, renovated amenities, and parking.
      1750 NW Naito Pkwy, Portland, OR 97209
      View Details
    • Contact for pricing
      77,315 SF

      Portland Qualified Opportunity Zone Site

      Premier location with high development potential in Portland's CBD.
      425 SW 5Th Ave, Portland, OR 97209
      View Details
    • $11,500,000

      Renovated Mixed-Use Space in Portland

      Available mixed-use space in a highly walkable Portland neighborhood.
      1715 NW 17Th Ave, Portland, OR 97209
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Office Building in Slabtown

      New office building in the thriving Slabtown neighborhood.
      1935 NW Overton St, Portland, OR 97209
      View Details
    • Contact for pricing
      20,000 SF

      Creative Office Space with Bow Truss

      Divisible creative office space featuring bow truss roof and amenities.
      1330 NW 14Th Ave, Portland, OR 97209
      View Details
    • Contact for pricing
      20,526 SF

      Office Building For Lease

      Three-story office building with 76,000 square feet available for lease.
      1044 Northwest 9Th Ave, Portland, OR 97209
      View Details
    • $30 SF/Yr

      Pearl District Retail Restaurant Space

      First-generation retail, restaurant, and service spaces in new mixed-use building.
      1430 NW Hoyt St, Portland, OR 97209
      View Details
    • Contact for pricing
      3,658 SF

      Office Space with Natural Light

      Basement office space perfect for non-profit with 24/7 access.
      1808 NW Irving St, Portland, OR 97209
      View Details
    • Contact for pricing
      1,360 SF

      Pearl District Office Space Available

      Office space with hardwood floors, high ceilings, natural light.
      510-520 NW 11Th Ave, Portland, OR 97209
      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.
    13 3rd Ave
    Portland, OR 97209
    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!