Sign Up Successful!
You now have access to more from Realmo!
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

    15 Morris St Portland, OR 97227-1541

    • Medical offices
    • 5,787 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2024
    $3,822,606
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0120685
    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

    • Prism Health | Morris / Community Health Centre
    • Anderson Susan / Nurse Practitioner / Registered General Nurse
    • Stanley Kenneth / Doctor
    • Shoshana Maxwell / Family Practice Physician
    • Dr. Atul Gupta / Family Practice Physician

    Property Details for 15 Morris St

    Year built
    1979
    Lot size
    0.33 lot acres
    Property size
    5,787 SF
    Zone code
    RXD
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1N1E27AB 13700
    APU
    1N1E27AB13700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.667
    Latitude
    45.5449
    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
    -
    $2,187,450
    $519,260
    $2,706,710

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      3600 Wi N Interstate Ave

      MEDICAL BUILDING • 0.25 Acres
      3600 Wi N Interstate Ave, Portland, OR 97227
      View Details
    • Value Estimation by Request
      303,097 SF

      3500 Interstate Ave

      MEDICAL BUILDING • 303,097 SF
      3500 Interstate Ave, Portland, OR 97227-1196
      View Details
    • Value Estimation by Request
      67,384 SF

      3550 Interstate Ave

      MEDICAL BUILDING • 67,384 SF
      3550 Interstate Ave, Portland, OR 97227-1196
      View Details
    • Value Estimation by Request
      0.09 Acres

      3001 Wi N Gantenbein Ave

      MEDICAL BUILDING • 0.09 Acres
      3001 Wi N Gantenbein Ave, Portland, OR 97227
      View Details
    • Value Estimation by Request
      0.13 Acres

      3001 Wi N Gantenbein Ave

      MEDICAL BUILDING • 0.13 Acres
      3001 Wi N Gantenbein Ave, Portland, OR 97227
      View Details
    • Value Estimation by Request
      0.08 Acres

      3001 Wi N Gantenbein Ave

      MEDICAL BUILDING • 0.08 Acres
      3001 Wi N Gantenbein Ave, Portland, OR 97227
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,671 SF

      Innovative Office Building in Portland

      Multi-tenanted office building with sustainable design in Williams District.
      3506-3514 N Vancouver Ave, Portland, OR 97227
      View Details
    • Contact for pricing
      2,727 SF

      Remodeled Office Space in Portland

      Move-in ready office space in a bustling NE Portland neighborhood.
      Portland, OR 97227
      View Details
    • $3,395,000
      4,500 SF

      Portland Office Building For Sale

      Office building with 4,500 square feet of space.
      1825 N Williams Ave, Portland, OR 97227
      View Details
    • $2,224,000
      13,362 SF

      Mixed-Use Building with Income Potential

      Mixed-use property with commercial and residential units in Portland, OR.
      3039 N Williams Ave, Portland, OR 97227
      View Details
    • Contact for pricing
      4,000 SF

      North Portland Retail/Office Building

      Charming retail, cafe, office, and shop space in Portland.
      3535 N Vancouver Ave, Portland, OR 97227
      View Details
    • Contact for pricing

      Eastside Office with Shop Space

      Eastside office and shop space with secure yard and parking.
      2409 N Kerby Ave, Portland, OR 97227
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      Portland Medical & Creative Office Space

      Prime Portland location, flexible suites available.
      3450 Williams Ave, Portland, OR 97227
      View Details
    • $28 SF/Yr
      8,907 SF

      Plug & Play Office Space

      Office space with furniture, terrace, and parking available for rent.
      4073 N Williams Ave, Portland, OR 97227
      View Details
    • $30 SF/Yr
      945 SF

      Retail/Creative Space on Mississippi Ave

      Retail or creative space in the heart of Mississippi.
      3960-3968 N Mississippi Ave, Portland, OR 97227
      View Details
    • $32 SF/Yr
      7,949 SF

      Creative Space in Mixed-Use Neighborhood

      Plug & play creative space with high-end finishes available for rent.
      3526-3540 N Vancouver Ave, Portland, OR 97227
      View Details
    • Contact for pricing

      Remodeled Creative Office Storefront Space

      Recently remodeled creative office space with storefront, easy highway access.
      687 N Tillamook St, Portland, OR 97227
      View Details
    • $1.25 SF/Yr
      5,100 SF

      Industrial Space Available For Lease

      Industrial property with 5,100 square feet available for lease.
      1502-1522 N Interstate Ave, Portland, OR 97227
      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.
    15 Morris St
    Portland, OR 97227-1541
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.