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

    1500 96th Ave Portland, OR 97216-2535

    • Assisted living facilities
    • 48,011 SF
    • 11.59 lot acres
    OFF-MARKET
    Value Estimations
    $11,860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0813285
    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

    • Portland Adventist Academy / Religious School
    • Soccer Chance Academy / Sports School / Sports Field & Court

    Property Details for 1500 96th Ave

    Year built
    1963
    Lot size
    11.59 lot acres
    Property size
    48,011 SF
    Zone code
    IR
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1S2E04A 02502
    APU
    1S2E04A02502

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,858,000
      Market price range: $6.60M - $12.6M
      AI Estimate
      $11,858,000
      Market price range: $6.60M - $12.6M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $9,470,000
      Current use
      RESTAURANT
      $16,440,000
      Change: +74% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $14,660,000
      Change: +55% Conversion: Difficult
      MEDICAL BUILDING
      $14,500,000
      Change: +53% Conversion: Difficult
      RETAIL STORES
      $14,415,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $13,875,000
      Change: +47% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $13,825,000
      Change: +46% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.562
    Latitude
    45.5121
    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
    $169,248
    $0.00
    $0.00
    $7,200,910
    -
    $4,584,710
    $20,697,120
    $25,281,830

    Comparable in this City

    • Value Estimation
      $23,815,000
      150,771 SF

      23 103rd Ave

      HOMES (RETIRED, NURSING) • 150,771 SF
      23 103rd Ave, Portland, OR 97216-2759
      View Details
    • Value Estimation by Request
      369,835 SF

      1401 107th Ave, Unit 1419

      HOMES (RETIRED, NURSING) • 369,835 SF
      1401 107th Ave, Portland, OR 97216-3156
      View Details
    • Value Estimation
      $6,145,000
      33,980 SF

      1404 107th Ave, Unit 1614

      HOMES (RETIRED, NURSING) • 33,980 SF
      1404 107th Ave, Portland, OR 97216-3255
      View Details
    • Value Estimation by Request
      1,827 SF

      637 112th Ave

      HOMES (RETIRED, NURSING) • 1,827 SF
      637 112th Ave, Portland, OR 97216-3413
      View Details
    • Value Estimation
      $4,190,000
      21,252 SF

      12025 Pne St

      HOMES (RETIRED, NURSING) • 21,252 SF
      12025 Pne St, Portland, OR 97216-3785
      View Details
    • Value Estimation by Request
      3,019 SF

      11010 Market St

      HOMES (RETIRED, NURSING) • 3,019 SF
      11010 Market St, Portland, OR 97216-3552
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,270 SF

      Modern Medical Facility For Sale

      9,270 SF medical facility in Portland's Gateway district.
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      Single-Tenant Property in Gateway Submarket

      Leased to Physical Rehabilitation Network with renewal option.
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      New construction condo in prime location with modern features.
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    • $1,600,000
      24,671 SF

      Prime Development Parcels on SE 82nd

      Two combined tax parcels for development in Montavilla neighborhood.
      218 SE 82Nd Ave, Portland, OR 97216
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    • $699,900
      0.49 Acres

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      Two homes on a large lot in Southeast Portland.
      9311/9315 SE Grant St, Portland, OR 97216
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    Similar Nearby for Lease

    • Contact for pricing

      Move-in Ready Medical Office Space

      Spacious medical office with modern finishes and ample parking.
      10202 East Burnside St, Portland, OR 97216
      View Details
    • Contact for pricing
      14,394 SF

      Modern Office Space with Amenities

      Office space with fitness center, lounge, and rooftop deck.
      SE Ash St, Portland, OR 97216
      View Details
    • $4,800 /Mo
      924 SF

      Retail Space with Garage

      Retail space featuring two offices, restrooms, and a garage.
      1236 NE 82Nd Ave, Portland, OR 97216
      View Details
    • $18 SF/Yr
      1,705 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
      940-948 NE 102Nd Ave, Portland, OR 97216
      View Details
    • $25 SF/Yr
      3,750 SF

      Portland Office Space For Rent

      Spacious Portland office suite with modern finishes and ample parking.
      23 SE 103Rd Ave, Portland, OR 97216
      View Details
    • $30 SF/Yr
      1,320 SF

      Retail Space Near I-205

      Retail space with high visibility near the I-205 interchange.
      9738 SE Washington St, Portland, OR 97216
      View Details
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    1500 96th Ave
    Portland, OR 97216-2535
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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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