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

    2021 Miller Rd, Unit 2127 Portland, OR 97229-7515

    • Retail space
    • 3,508 SF
    • 1.79 lot acres
    OFF-MARKET
    Value Estimations
    $1,510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0945379
    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

    • Jim & Patty's Coffee / Coffee Shop

    Property Details for 2021 Miller Rd

    Year built
    2006
    Lot size
    1.79 lot acres
    Property size
    3,508 SF
    Zone code
    CN2
    Property type
    Retail space
    APN
    1N1W26CC 00103
    APU
    1N1W26CC00103

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,509,000
      Market price range: $623k - $1.51M
      AI Estimate
      $1,509,000
      Market price range: $623k - $1.51M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,055,000
      Current use
      AUTO REPAIR, GARAGE
      $1,070,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $1,060,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $1,015,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,010,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.78
    Latitude
    45.5373
    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
    $73,797
    $0.00
    $0.00
    $3,889,930
    -
    $2,335,080
    $1,554,850
    $3,889,930

    Comparable in this City

    • Value Estimation
      $1,720,000
      4,000 SF

      975 Saltzman Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      975 Saltzman Rd, Portland, OR 97229-5647
      View Details
    • Value Estimation
      $3,495,000
      8,120 SF

      13305 Cornell Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,120 SF
      13305 Cornell Rd, Portland, OR 97229-5987
      View Details
    • Value Estimation by Request
      747 SF

      15325 Central Dr, Unit 104

      RETAIL STORES (PERSONAL SERVICES) • 747 SF
      15325 Central Dr, Portland, OR 97229-0985
      View Details
    • Value Estimation by Request
      899 SF

      15325 Central Dr, Unit 106

      RETAIL STORES (PERSONAL SERVICES) • 899 SF
      15325 Central Dr, Portland, OR 97229-0985
      View Details
    • Value Estimation
      $790,000
      2,014 SF

      88 Murray Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,014 SF
      88 Murray Blvd, Portland, OR 97229-5760
      View Details
    • Value Estimation
      $1,040,000
      2,416 SF

      762 Dl Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,416 SF
      762 Dl Ave, Portland, OR 97229-5829
      View Details

    Similar Nearby for Sale

    • $3,210,000
      4,175 SF

      Leased Retail Property For Sale

      Fully leased retail property with investment-grade tenant and growing clinic.
      18215 West Union Rd, Portland, OR 97229
      View Details
    • $600,000
      0.46 Acres

      Bethany Crossing Commercial Land

      Prime Portland retail pad, ±0.46 acres.
      0 Eleanor Ave, Portland, OR 97229
      View Details
    • $995,000
      2,034 SF

      Prime Portland Mixed-Use Building

      Profitable 2-Story, 2,034 SF Office/Retail
      88 Murray Blvd, Portland, OR 97229
      View Details
    • $390,000

      Bethany Village Condo with Updates

      Updated 2-bedroom condo in walkable Bethany Village neighborhood.
      15320 NW Central Dr, Portland, OR 97229
      View Details
    • $450,000

      Bethany Retail Development Pad

      Retail development pad in growing North Bethany neighborhood.
      NW Orchid St, Portland, OR 97229
      View Details
    • $700,000
      0.36 Acres

      Buildable Lot in Forest Heights

      Buildable lot in Forest Heights with multi-dwelling zoning.
      3030 NW Montara Loop, Portland, OR 97229
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      635 SF

      Retail Space in Bethany Village

      Retail space available in affluent Bethany Village Centre.
      4732-4768 NW Bethany Blvd, Portland, OR 97229
      View Details
    • $37 SF/Yr
      1,037 SF

      Retail Space on NW Cornell

      Retail space available for lease with high traffic volume.
      12923 NW Cornell Rd, Portland, OR 97229
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in High-Traffic Center

      Retail space in high-traffic Portland center with strong demographics.
      455-575 NW Saltzman Rd, Portland, OR 97229
      View Details
    • $28 SF/Yr
      2,760 SF

      Portland Retail Space For Lease

      Prime Portland storefront, multiple units available.
      14740 Cornell Rd, Portland, OR 97229
      View Details
    • Contact for pricing
      1,564 SF

      Retail Space Near Highway 26

      Retail space with easy highway access and nearby corporate headquarters.
      13535-13545 NW Science Park Dr, Portland, OR 97229
      View Details
    • $42 SF/Yr
      16,234 SF

      Divisible Retail/Restaurant/Medical Space Available

      Retail, restaurant, or medical space available in established neighborhood.
      11780-11786 NW Cedar Falls Dr, Portland, OR 97229
      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.
    2021 Miller Rd, Unit 2127
    Portland, OR 97229-7515
    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.