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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1431 21st Ave Portland, OR 97232-1565

    • Apartment buildings
    • 31,014 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    $6,570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0126360
    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

    • Castle Manor / Apartment Building

    Property Details for 1431 21st Ave

    Year built
    1930
    Lot size
    0.30 lot acres
    Property size
    31,014 SF
    Zone code
    R2
    Property type
    Apartment buildings
    APN
    1N1E35AA 00900
    APU
    1N1E35AA00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,569,000
      Market price range: $4.93M - $12.3M
      AI Estimate
      $6,569,000
      Market price range: $4.93M - $12.3M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $8,245,000
      Current use
      RESTAURANT
      $10,620,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,015,000
      Change: +21% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $9,470,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $9,370,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $9,310,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $8,965,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.645
    Latitude
    45.5334
    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
    $63,848
    $0.00
    $0.00
    $2,409,490
    -
    $659,750
    $5,008,310
    $5,668,060

    Comparable in this City

    • Value Estimation by Request
      200,255 SF

      1231 M L King Blvd

      APARTMENT HOUSE (5+ UNITS) • 200,255 SF
      1231 M L King Blvd, Portland, OR 97232-2073
      View Details
    • Value Estimation
      $1,820,000
      6,869 SF

      1908 Multnomah St

      APARTMENT HOUSE (5+ UNITS) • 6,869 SF
      1908 Multnomah St, Portland, OR 97232-2139
      View Details
    • Value Estimation
      $2,825,000
      12,548 SF

      1902 Wasco St, Unit 1936

      APARTMENT HOUSE (5+ UNITS) • 12,548 SF
      1902 Wasco St, Portland, OR 97232-1525
      View Details
    • Value Estimation
      $4,110,000
      17,928 SF

      1940 Wasco St, Unit 2026

      APARTMENT HOUSE (5+ UNITS) • 17,928 SF
      1940 Wasco St, Portland, OR 97232-1525
      View Details
    • Value Estimation by Request
      172,985 SF

      1088 7th Ave

      APARTMENT HOUSE (5+ UNITS) • 172,985 SF
      1088 7th Ave, Portland, OR 97232-3622
      View Details
    • Value Estimation
      $1,835,000
      5,080 SF

      1030 31st Ave

      APARTMENT HOUSE (5+ UNITS) • 5,080 SF
      1030 31st Ave, Portland, OR 97232-2465
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Historic Aircraft Factory Redevelopment Opportunity

      Unique Portland redevelopment site with highway visibility and flexible zoning.
      3300 NE Broadway St, Portland, OR 97232
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      Former Senior Care Facility

      Former senior care facility ideal for multifamily and senior living.
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      Kerns Victorian with Income Potential

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    • New
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      0.07 Acres

      Portland Duplex: Investor Opportunity

      Well-maintained duplex in an easy-to-rent neighborhood.
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      View Details
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      2,472 SF

      Kerns Duplex with Charm

      Charming Kerns duplex with original hardwood floors and shared backyard.
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      Downtown Portland Hotel - 80 Rooms

      Portland hotel, 80 rooms, prime location.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,804 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
      847-919 NE 19Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing

      Portland Creative Space with Flex

      Modern creative space with flex area in vibrant Portland neighborhood.
      541 NE 20Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing
      24,300 SF

      Office Space in Portland, OR

      Office space available for lease in Portland, Oregon.
      1425 NE Irving St, Portland, OR 97232
      View Details
    • $7,400 /Mo
      7,200 SF

      Modern Flex Warehouse/Office Space

      Move-in ready flex space near Burnside with warehouse and office.
      128 Northeast 7Th Ave, Portland, OR 97232
      View Details
    • $25 SF/Yr

      1607 and 1611 NE 16th Ave, Portland

      Charming Commercial Space for Lease 1607 and 611 NE 16th Ave, Portland
      1607 NE 16Th Ave # Portland, Portland, OR 97232
      View Details
    • Contact for pricing

      Broadway Retail/Office Space Available

      Centrally located retail/office space in Portland's Lloyd District.
      2518 NE Broadway St, Portland, OR 97232
      View Details
    Request Owner's contact information
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    1431 21st Ave
    Portland, OR 97232-1565
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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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