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

    1570 Willis Blvd Portland, OR 97217-6760

    • Apartment buildings
    • 8,902 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    May 04, 2022
    $5,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0219651
    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

    • Apartment buildings

    Property Details for 1570 Willis Blvd

    Year built
    2018
    Lot size
    0.11 lot acres
    Property size
    8,902 SF
    Zone code
    RH
    Property type
    Apartment buildings
    APN
    1N1E09DA 01900
    APU
    1N1E09DA01900

    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
    -122.684
    Latitude
    45.5836
    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
    $26,624
    $0.00
    $0.00
    $1,004,740
    -
    $400,000
    $2,196,860
    $2,596,860

    Comparable in this City

    • Value Estimation by Request
      2,788 SF

      10962 Moore Ave

      Multifamily properties • 2,788 SF
      10962 Moore Ave, Portland, OR 97217
      View Details
    • Value Estimation by Request
      9,148 SF

      7560 Emerald Ave

      Multifamily properties • 9,148 SF
      7560 Emerald Ave, Portland, OR 97217
      View Details
    • Value Estimation by Request

      1224 Winchell St

      Multifamily properties
      1224 Winchell St, Portland, OR 97217
      View Details
    • Value Estimation by Request
      2,780 SF

      5336 Albina Ave

      APARTMENT HOUSE (5+ UNITS) • 2,780 SF
      5336 Albina Ave, Portland, OR 97217-2302
      View Details
    • Value Estimation
      $10,615,000
      55,366 SF

      1101 Marine Dr

      APARTMENT HOUSE (5+ UNITS) • 55,366 SF
      1101 Marine Dr, Portland, OR 97217-8101
      View Details
    • Value Estimation
      $745,000
      6,000 SF

      2911 Russet St

      APARTMENT HOUSE (5+ UNITS) • 6,000 SF
      2911 Russet St, Portland, OR 97217-6249
      View Details

    Similar Nearby for Sale

    • $1,850,000
      5,390 SF

      North Portland Five-Plex Condominium

      Five-plex in North Humboldt neighborhood with designer finishes and amenities.
      5860 N Missouri Ave, Portland, OR 97217
      View Details
    • $2,499,900
      5,476 SF

      Portland 6-Plex Investment Opportunity

      Luxury 6-unit apartment building, prime location
      4320 Gantenbein Ave, Portland, OR 97217
      View Details
    • Contact for pricing

      New Kenton Neighborhood Apartment Building

      New 14-unit building in North Portland's Kenton neighborhood.
      1615 N Willis Blvd, Portland, OR 97217
      View Details
    • $240,000
      1,023 SF

      Condo with Columbia River View

      Two-bedroom condo with river views, amenities, and convenient location.
      275 N Hayden Bay Dr, Portland, OR 97217
      View Details
    • $487,000
      1,816 SF

      Updated Condo with Marina Views

      Updated condo with marina views, open floorplan, and resort-style amenities.
      540 N Hayden Bay Dr, Portland, OR 97217
      View Details
    • Contact for pricing

      New Multifamily Building in Portland

      New 14-unit building in Portland's Arbor Lodge neighborhood.
      1825 N Rosa Parks Way, Portland, OR 97217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,313 SF

      Retail Space in North Williams

      New retail space in a thriving North Williams district.
      4242 N Vancouver Ave, Portland, OR 97217
      View Details
    • $14 SF/Yr
      11,429 SF

      North Portland Retail Freestanding

      Prime North Portland retail space available.
      1622 Lombard St, Portland, OR 97217
      View Details
    • $26 SF/Yr
      1,400 SF

      Portland Retail Space for Lease

      ±1,400 SF Retail/Restaurant Space, Great Location
      7409 Interstate Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      743,227 SF

      Jantzen Beach Center Retail Space

      Portland Retail Center: Multiple Spaces Available
      0 Center Ave, Portland, OR 97217
      View Details
    • $26 SF/Yr
      1,973 SF

      Lombard St Medical Office Space

      Portland medical office, 1973 SF. Available September 1st.
      3246 Lombard St, Portland, OR 97217
      View Details
    • Contact for pricing
      158,820 SF

      Portland Industrial Manufacturing Space

      158,820 SF Multi-Tenant Warehouse
      5230 Basin Ave, Portland, OR 97217
      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.
    1570 Willis Blvd
    Portland, OR 97217-6760
    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.