Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1515 12th Ave Portland, OR 97201-3322
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 12th Ave Portland, OR 97201-3322

    View on Map
    • Apartment buildings
    • 52,335 SF
    • 0.33 lot acres
    Off-Market
    Property ID
    US71-0600085
    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
    $8,320,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 12th Avenue Terrace / Apartment Building

    Property Details for 1515 12th Ave

    Year built
    1993
    Lot size
    0.33 lot acres
    Property size
    52,335 SF
    Zone code
    RXD
    Property type
    Apartment buildings
    APN
    1S1E04AC 00400
    APU
    1S1E04AC00400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,322,000
      Market price range: $8.32M - $20.7M
      AI Estimate
      $8,322,000
      Market price range: $8.32M - $20.7M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $11,280,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.688
    Latitude
    45.5149
    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
    $4,446
    $0.00
    $0.00
    $167,940
    -
    $3,215,050
    $6,160,480
    $9,375,530

    Comparable in this City

    • Value Estimation by Request
      265,442 SF

      245 Lincoln St

      APARTMENT HOUSE (5+ UNITS) • 265,442 SF
      245 Lincoln St, Portland, OR 97201-5082
      View Details
    • Value Estimation
      $5,100,000
      18,852 SF

      1405 Park Ave

      APARTMENT HOUSE (5+ UNITS) • 18,852 SF
      1405 Park Ave, Portland, OR 97201-3446
      View Details
    • Value Estimation
      $1,150,000
      5,013 SF

      1310 College St

      APARTMENT HOUSE (5+ UNITS) • 5,013 SF
      1310 College St, Portland, OR 97201-3123
      View Details
    • Value Estimation
      $35,125,000
      220,890 SF

      1948 Broadway

      APARTMENT HOUSE (5+ UNITS) • 220,890 SF
      1948 Broadway, Portland, OR 97201-6709
      View Details
    • Value Estimation
      $11,860,000
      34,948 SF

      Swsw Park Ave

      APARTMENT HOUSE (5+ UNITS) • 34,948 SF
      Swsw Park Ave, Portland, OR 97201
      View Details
    • Value Estimation
      $1,215,000
      3,072 SF

      2047 10th Ave

      APARTMENT HOUSE (5+ UNITS) • 3,072 SF
      2047 10th Ave, Portland, OR 97201-3127
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      University Park Condo in Portland

      Move-in ready condo with parking, storage, and city views.
      1500 SW Park Ave, Portland, OR 97201
      View Details
    • $975,000
      3,350 SF

      Portland Multifamily with City Views

      5-plex near PSU with RM4 zoning for high-density development.
      2047 SW 10Th Ave, Portland, OR 97201
      View Details
    • $250,000

      Condo with Private Balcony

      Bright condo with floor-to-ceiling windows and private balcony.
      255 SW Harrison St, Portland, OR 97201
      View Details
    • $365,000
      0.17 Acres

      Portland Heights Land with Views

      Rare lot with city and mountain views in Portland Heights.
      2515 SW Hillcrest Dr, Portland, OR 97201
      View Details
    • $500,000
      0.12 Acres

      Leased Land Near Ross Island

      Three contiguous parcels of leased land in evolving South Waterfront.
      S Water Ave, Portland, OR 97201
      View Details
    • $299,000
      0.22 Acres

      Residential Land in Portland Heights

      Build-to-suit lots with panoramic views in a gated community.
      SW Cardinell Way, Portland, OR 97201
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease.
      225 SW Columbia St, Portland, OR 97201
      View Details
    • Contact for pricing

      Retail Space with Exclusive Covered Dock

      Retail space with dock access in Portland, Oregon.
      425 SW Montgomery St, Portland, OR 97201
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for rent, featuring 11,156 square feet.
      1500 SW 1St Ave, Portland, OR 97201
      View Details
    • Contact for pricing
      46,573 SF

      Office Space Available For Rent

      46,573 square feet of office space for lease.
      1300 Southwest 6Th Avenue Dr, Portland, OR 97201
      View Details
    • Contact for pricing
      5,787 SF

      Downtown Portland Office Space Available

      Office spaces for rent in downtown Portland with flexible lease.
      1400 SW 5Th Ave, Portland, OR 97201
      View Details
    • Contact for pricing
      742 SF

      Historic Retail Space on Broadway

      Prime retail spaces in the NE Broadway commercial corridor.
      1428 NE Broadway, Portland, OR 97201
      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.
    1515 12th Ave
    Portland, OR 97201-3322
    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!