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    Property profile & analytics

    1933 181st Ave Portland, OR 97230-6997

    • Turn key restaurants
    • 8,044 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $3,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0475994
    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

    • Elmer's Restaurant (181st & San Rafael, Portland, OR) / Restaurant
    • Elmer's Restaurant / Restaurant

    Property Details for 1933 181st Ave

    Year built
    1999
    Lot size
    0.86 lot acres
    Property size
    8,044 SF
    Zone code
    CC
    Property type
    Turn key restaurants
    APN
    1N3E30DD 00305
    APU
    1N3E30DD00305

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,026,000
      Market price range: $1.55M - $3.97M
      AI Estimate
      $3,026,000
      Market price range: $1.55M - $3.97M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,755,000
      Current use
      AUTO REPAIR, GARAGE
      $2,455,000
      Change: -11% Conversion: Difficult
      MEDICAL BUILDING
      $2,430,000
      Change: -12% Conversion: Difficult
      RETAIL STORES
      $2,415,000
      Change: -12% Conversion: Easy
      OFFICE BUILDING
      $2,325,000
      Change: -16% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,315,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.478
    Latitude
    45.5368
    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
    $22,458
    $0.00
    $0.00
    $1,288,440
    -
    $1,441,470
    $1,483,480
    $2,924,950

    Comparable in this City

    • Value Estimation
      $855,000
      1,728 SF

      16088 Sandy Blvd

      RESTAURANT • 1,728 SF
      16088 Sandy Blvd, Portland, OR 97230-5013
      View Details
    • Value Estimation
      $2,775,000
      5,618 SF

      707 181st Ave

      RESTAURANT • 5,618 SF
      707 181st Ave, Portland, OR 97230-6705
      View Details
    • Value Estimation
      $1,940,000
      3,931 SF

      302 122nd Ave

      RESTAURANT • 3,931 SF
      302 122nd Ave, Portland, OR 97230-2106
      View Details
    • Value Estimation
      $1,120,000
      2,696 SF

      18140 Halsey St

      RESTAURANT • 2,696 SF
      18140 Halsey St, Portland, OR 97230-6737
      View Details
    • Value Estimation
      $1,555,000
      4,109 SF

      12500 Sandy Blvd

      RESTAURANT • 4,109 SF
      12500 Sandy Blvd, Portland, OR 97230-1219
      View Details
    • Value Estimation
      $1,265,000
      2,560 SF

      12444 Airport Way

      RESTAURANT • 2,560 SF
      12444 Airport Way, Portland, OR 97230-1019
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Portland Commercial Land

      56,467 SF Outparcel, I-84 Visibility
      2811 181St Ave, Portland, OR 97230
      View Details
    • Contact for pricing
      17,500 SF

      Well-Maintained Strip Mall Investment

      Fully leased strip mall with expansion and income potential.
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      View Details
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      1,900 SF

      I-84 Retail Pad Site, Portland, OR

      High-visibility retail space near major employers.
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    • $1,100,000

      Gresham Retail Development Land

      Prime 35,719 SF commercial lot. High traffic area.
      0 181St Ave, Portland, OR 97230
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    • $68,000
      1,400 SF

      Established Nail Salon and Spa

      Turnkey nail salon and spa business opportunity for sale.
      1714 NE 122Nd Ave, Portland, OR 97230
      View Details
    • Contact for pricing

      Redevelopment Opportunity in Hazelwood

      Redevelopment opportunity with flexible zoning and high visibility.
      29 NE 122Nd Ave, Portland, OR 97230
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    Similar Nearby for Lease

    • Contact for pricing
      2,350 SF

      Retail Pad Site For Lease

      Drive-thru retail pad site with high visibility and exposure.
      2811 NE 181St Ave, Portland, OR 97230
      View Details
    • Contact for pricing

      Former Rite Aid For Sale

      Former Rite Aid available for sale in NE Portland.
      514 NE 181St Ave, Portland, OR 97230
      View Details
    • Contact for pricing
      33,536 SF

      Portland Retail Pad Site Investment

      Prime Portland Retail Land, 33,536 SF
      2301 181St Ave, Portland, OR 97230
      View Details
    • Contact for pricing
      33,563 SF

      Prime Portland Retail Outparcel

      High-visibility I-84 location, 33,563 SF.
      84 181St Ave, Portland, OR 97230
      View Details
    • Contact for pricing
      5,021 SF

      Retail Showroom Space Available

      Retail showroom space for lease in Airport Commerce Center.
      12518 NE Airport Way, Portland, OR 97230
      View Details
    • $18 SF/Yr
      1,853 SF

      Portland Fitness Center Space Available

      1853 SF Retail Space in Portland, OR
      1541 181St Ave, Portland, OR 97230
      View Details
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    1933 181st Ave
    Portland, OR 97230-6997
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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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