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

    2124 Hancock St Portland, OR 97212-4739

    • Investment properties
    • 3,203 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0321849
    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

    • Irvington Chiropractic Office / Chiropractor
    • Flowers Chiropractic / Chiropractor
    • Billing Info | Flowers Chiropractic / Insurance Agency
    • Billy R. Flowers, DC / Chiropractor

    Property Details for 2124 Hancock St

    Year built
    1941
    Lot size
    0.11 lot acres
    Property size
    3,203 SF
    Zone code
    R1A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1N1E26DD 09500
    APU
    1N1E26DD09500

    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
    -122.644
    Latitude
    45.5362
    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
    $4,763
    $0.00
    $0.00
    $179,740
    -
    $320,000
    $542,280
    $862,280

    Comparable in this City

    • Value Estimation by Request
      2,441 SF

      2015 Cesar E Chavez Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,441 SF
      2015 Cesar E Chavez Blvd, Portland, OR 97212-5305
      View Details
    • Value Estimation by Request
      3,140 SF

      1915 Cesar E Chavez Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,140 SF
      1915 Cesar E Chavez Blvd, Portland, OR 97212-5304
      View Details
    • Value Estimation by Request
      3,038 SF

      3417 7th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,038 SF
      3417 7th Ave, Portland, OR 97212-2111
      View Details
    • Value Estimation by Request
      1,762 SF

      1735 40th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,762 SF
      1735 40th Ave, Portland, OR 97212-5307
      View Details
    • Value Estimation by Request
      0.11 Acres

      2106 Wi Ne 40th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.11 Acres
      2106 Wi Ne 40th Ave, Portland, OR 97212
      View Details
    • Value Estimation by Request
      2,356 SF

      2007 Cesar E Chavez Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,356 SF
      2007 Cesar E Chavez Blvd, Portland, OR 97212-5305
      View Details

    Similar Nearby for Sale

    • $3,699,900
      7,830 SF

      Portland Multifamily Investment Opportunity

      9-Unit Portfolio, High ROI Potential
      76 Stanton St, Portland, OR 97212
      View Details
    • $2,799,900
      6,592 SF

      Portland 7-Plex: New Construction

      Luxury 7-unit apartment building, prime location.
      3564 Garfield Ave, Portland, OR 97212
      View Details
    • Contact for pricing
      10,500 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
    • $1,990,000
      10,700 SF

      Hollywood District Retail Building

      10,700 SF retail building in Portland's Hollywood District.
      4071 NE Sandy Blvd, Portland, OR 97212
      View Details
    • $1,275,000
      0.12 Acres

      Victorian Home with Rental Potential

      Historic Portland home with multiple living spaces and rental options.
      1927 NE 16Th Ave, Portland, OR 97212
      View Details
    • $1,475,000
      0.15 Acres

      Portland Multifamily with Commercial Front

      Well-maintained 6-plex in Elliot neighborhood with commercial space.
      2845 NE M L King Blvd NE, Portland, OR 97212
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,906 SF

      Weatherly Building: Portland Office Space

      Historic Portland Office, Retail Space Available
      516 Morrison St, Portland, OR 97212
      View Details
    • $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
    • $1,110,000
      3,600 SF

      Flex Space with Outdoor Storage

      Flex space with easy access to I-5 and CBD.
      1835 NE 3Rd Ave, Portland, OR 97212
      View Details
    • $17 SF/Yr
      5,000 SF

      Division Street Restaurant/Retail Space

      Dynamic Portland location with tasting room and barrel storage.
      2425 SE 35Th Ave, Portland, OR 97212
      View Details
    • $0.70 SF/Yr
      18,344 SF

      Portland Warehouse Space Available

      18,344 SF warehouse space for lease in Portland, OR.
      721-723 N Tillamook St, Portland, OR 97212
      View Details
    • $24 SF/Yr
      2,436 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
    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.
    2124 Hancock St
    Portland, OR 97212-4739
    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.