Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    1534 Morrison St Portland, OR 97214-2648

    • Assisted living facilities
    • 2,160 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2025
    $350,000
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0551113
    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

    • Assisted living facilities

    Property Details for 1534 Morrison St

    Year built
    1875
    Lot size
    0.08 lot acres
    Property size
    2,160 SF
    Zone code
    R2.5
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1S1E02AB 15300
    APU
    1S1E02AB15300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $425,000
      Market price range: $297k - $565k
      AI Estimate
      $425,000
      Market price range: $297k - $565k

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.65
    Latitude
    45.517
    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
    -
    $305,750
    $300,520
    $606,270

    Comparable in this City

    • Value Estimation by Request
      34,382 SF

      3130 Stark St

      HOMES (RETIRED, NURSING) • 34,382 SF
      3130 Stark St, Portland, OR 97214-3000
      View Details
    • Value Estimation by Request
      0.69 Acres

      Alder St

      HOMES (RETIRED, NURSING) • 0.69 Acres
      Alder St, Portland, OR 97214
      View Details
    • Value Estimation by Request
      51,704 SF

      2828 Taylor St

      HOMES (RETIRED, NURSING) • 51,704 SF
      2828 Taylor St, Portland, OR 97214-4031
      View Details
    • Value Estimation by Request
      158,962 SF

      3060 Stark St

      HOMES (RETIRED, NURSING) • 158,962 SF
      3060 Stark St, Portland, OR 97214-3053
      View Details
    • Value Estimation by Request
      2,930 SF

      2333 12th Ave

      HOMES (RETIRED, NURSING) • 2,930 SF
      2333 12th Ave, Portland, OR 97214-5323
      View Details
    • Value Estimation by Request
      14,343 SF

      2727 Alder St

      HOMES (RETIRED, NURSING) • 14,343 SF
      2727 Alder St, Portland, OR 97214-3015
      View Details

    Similar Nearby for Sale

    • $1,300,000
      5,145 SF

      Abbey House: Hawthorne District Gem

      Mixed-use building, strong NOI, value-add potential.
      2928 Hawthorne Blvd, Portland, OR 97214
      View Details
    • Contact for pricing

      Portland Central Eastside Development Site

      10,000 sq ft lot, 3500 sf building
      525 Oak St, Portland, OR 97214
      View Details
    • Contact for pricing
      13,400 SF

      Belmont Street Office & Warehouse

      Portland Industrial/Office Space: 13,400 SF
      707 Belmont St, Portland, OR 97214
      View Details
    • Contact for pricing
      0.41 Acres

      Inner SE Portland Development Site

      0.41-acre commercial land, high visibility
      234 Grand Ave, Portland, OR 97214
      View Details
    • Contact for pricing
      10,000 SF

      Central Eastside Portland Land

      Prime 10,000 SF development site.
      525 Oak St, Portland, OR 97214
      View Details
    • $530,000

      Hawthorne District Townhome-Style Condo

      Modern townhome-style condo in Hawthorne District with no rental cap.
      1510 SE 34Th Ave, Portland, OR 97214
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,451 SF

      Portland Retail/Office Opportunity

      Prime Portland location, 1,451 sq ft.
      1431 23Rd Ave, Portland, OR 97214
      View Details
    • Contact for pricing
      5,019 SF

      Freestanding Building with Parking Available

      Flexible office/retail/medical space with high visibility and parking.
      2927 E Burnside St, Portland, OR 97214
      View Details
    • $17 SF/Yr
      18,500 SF

      Mt. Everest Building: Portland Office Space

      Prime Portland Office, Multiple Suites Available
      819 Morrison St, Portland, OR 97214
      View Details
    • Contact for pricing
      3,806 SF

      Portland Mixed-Use Retail Space

      Two prime retail spaces available in vibrant Portland.
      1120 Morrison St, Portland, OR 97214
      View Details
    • $18 SF/Yr
      268 SF

      Pitman Building: Modern Portland Office

      Versatile Office Suites in vibrant SE Portland
      1650 3Rd Ave, Portland, OR 97214
      View Details
    • $32 SF/Yr
      151,200 SF

      Prime Portland Retail Space

      Class A, 1,267-4,913 SF, Inner East Side
      909 12Th Ave, Portland, OR 97214
      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.
    1534 Morrison St
    Portland, OR 97214-2648
    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.