Add Listing
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

    2111 40th Ave Portland, OR 97212-5406

    • Medical Office Space
    • 3,540 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0571866
    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

    • Dr. Seth Huish / Dental Office
    • Steven Miller / Dental Office
    • Roots Dental - Hollywood / Dental Office

    Property Details for 2111 40th Ave

    Year built
    1985
    Lot size
    0.11 lot acres
    Property size
    3,540 SF
    Zone code
    C01
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1N1E25DA 17800
    APU
    1N1E25DA17800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $983,000
      Market price range: $507k - $1.48M
      AI Estimate
      $983,000
      Market price range: $507k - $1.48M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,070,000
      Current use
      AUTO REPAIR, GARAGE
      $1,080,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $1,065,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,025,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,020,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.622
    Latitude
    45.538
    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
    $12,827
    $0.00
    $0.00
    $484,080
    -
    $305,710
    $2,198,170
    $2,503,880

    Comparable in this City

    • Value Estimation
      $725,000
      3,610 SF

      2440 Fremont St, Unit 2480

      MEDICAL BUILDING • 3,610 SF
      2440 Fremont St, Portland, OR 97212-2509
      View Details
    • Value Estimation
      $2,695,000
      6,432 SF

      301 Knott St

      MEDICAL BUILDING • 6,432 SF
      301 Knott St, Portland, OR 97212-3014
      View Details
    • Value Estimation by Request
      0.05 Acres

      Martin Luther King Blvd

      MEDICAL BUILDING • 0.05 Acres
      Martin Luther King Blvd, Portland, OR 97212
      View Details
    • Value Estimation
      $530,000
      1,972 SF

      1822 33rd Ave

      MEDICAL BUILDING • 1,972 SF
      1822 33rd Ave, Portland, OR 97212-5112
      View Details
    • Value Estimation by Request
      0.10 Acres

      2647 Wi Ne 33rd Ave

      MEDICAL BUILDING • 0.10 Acres
      2647 Wi Ne 33rd Ave, Portland, OR 97212
      View Details
    • Value Estimation
      $1,045,000
      4,864 SF

      2647 33rd Ave

      MEDICAL BUILDING • 4,864 SF
      2647 33rd Ave, Portland, OR 97212-3647
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,023 SF

      Move-in Ready Office Space

      Available office space with abundant natural light and great visibility.
      4011-4023 NE Hancock St, Portland, OR 97212
      View Details
    • $350,000
      1,820 SF

      NE Portland Office Building

      Office building in Interstate Opportunity Zone with flexible mixed-use potential.
      4008 NE M L King Blvd, Portland, OR 97212
      View Details
    • Contact for pricing
      3,500 SF

      Restored Brick Building in Albina

      Two-story, modernized 1910 building with parking in Albina District.
      2627 NE M L King Blvd, Portland, OR 97212
      View Details
    • $417,500
      966 SF

      Portland Office Building - Grand Ave

      966 sq ft Office, Lush Garden, Great Location
      4009 Grand Ave, Portland, OR 97212
      View Details
    • Contact for pricing

      Commercial Building in Hollywood Area

      Freestanding commercial building in the Hollywood area of Portland.
      Portland, OR 97212
      View Details
    • $875,000
      3,132 SF

      Freestanding Commercial Building with Parking

      Commercial building with off-street parking and building signage available.
      4023 NE Tillamook St, Portland, OR 97212
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1 SF

      Mont Blanc Building: Irvington Office Space

      Portland Office Suites: Irvington's Historic Charm
      1836 7Th Ave, Portland, OR 97212
      View Details
    • Contact for pricing
      7,157 SF

      Grant Park Medical Office Endcap

      Portland Medical Office Space - 7,157 SF
      1835 33Rd Ave, Portland, OR 97212
      View Details
    • Contact for pricing
      4,915 SF

      Versatile Space Near OHSU Imaging

      Adaptable space suitable for medical or general office use.
      1800 NE 2Nd Ave, Portland, OR 97212
      View Details
    • Contact for pricing

      Modern Flex Space in Portland

      Turn-key flex space suitable for various businesses.
      45-57 NE Hancock St, Portland, OR 97212
      View Details
    • Contact for pricing
      1,080 SF

      Portland Warehouse with Office Space

      Warehouse with office space in Northwest Portland, close to downtown.
      3241-3271 NW 29Th Ave, Portland, OR 97212
      View Details
    • $25 SF/Yr
      2,637 SF

      Renovated Office/Retail Space Available

      Recently renovated office/retail space near SE Division Street amenities.
      2415-2419 SE 11Th Ave, Portland, OR 97212
      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.
    2111 40th Ave
    Portland, OR 97212-5406
    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!