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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 162nd Ave Portland, OR 97233-3835

    • Apartment buildings
    • 8,463 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $1,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0501581
    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 215 162nd Ave

    Year built
    1964
    Lot size
    0.66 lot acres
    Property size
    8,463 SF
    Zone code
    SC
    Property type
    Apartment buildings
    APN
    1N2E36DD 00500
    APU
    1N2E36DD00500

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,292,000
      Market price range: $1.12M - $2.26M
      AI Estimate
      $1,292,000
      Market price range: $1.12M - $2.26M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,665,000
      Current use
      RETAIL STORES
      $2,050,000
      Change: +23% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.497
    Latitude
    45.5209
    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
    $9,182
    $0.00
    $0.00
    $526,780
    -
    $343,260
    $1,086,970
    $1,430,230

    Comparable in this City

    • Value Estimation
      $6,360,000
      36,165 SF

      19550 Burnside St

      APARTMENT HOUSE (5+ UNITS) • 36,165 SF
      19550 Burnside St, Portland, OR 97233-5831
      View Details
    • Value Estimation
      $3,395,000
      22,116 SF

      17900 Burnside St, Unit 17922

      APARTMENT HOUSE (5+ UNITS) • 22,116 SF
      17900 Burnside St, Portland, OR 97233-4977
      View Details
    • Value Estimation
      $9,450,000
      48,024 SF

      110 188th Ave, Unit 190

      APARTMENT HOUSE (5+ UNITS) • 48,024 SF
      110 188th Ave, Portland, OR 97233-5300
      View Details
    • Value Estimation
      $4,455,000
      16,724 SF

      131 151st Ave, Unit 149

      APARTMENT HOUSE (5+ UNITS) • 16,724 SF
      131 151st Ave, Portland, OR 97233-2878
      View Details
    • Value Estimation
      $5,210,000
      19,544 SF

      2306 158th Ave

      APARTMENT HOUSE (5+ UNITS) • 19,544 SF
      2306 158th Ave, Portland, OR 97233-3718
      View Details
    • Value Estimation
      $5,420,000
      40,979 SF

      304 162nd Ave

      APARTMENT HOUSE (5+ UNITS) • 40,979 SF
      304 162nd Ave, Portland, OR 97233-3864
      View Details

    Similar Nearby for Sale

    • $3,290,000
      20,000 SF

      East Portland Apartment Complex

      25-unit apartment complex in East Portland with convenient access.
      14455 E Burnside St, Portland, OR 97233
      View Details
    • $190,000
      820 SF

      Portland Condo Near MAX Station

      Charming 2-bedroom condo with convenient access to transportation and amenities.
      281 SE 162Nd Ave, Portland, OR 97233
      View Details
    • $199,900
      896 SF

      Updated Corner Unit Condo

      Updated condo with expansive views, new flooring, and included appliances.
      20 SE 172Nd Ave, Portland, OR 97233
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    • New
      $1,595,000

      Multi-Family Portfolio Opportunity

      Professionally managed, fully rented portfolio with seller carry terms.
      17941 SE Main St, Portland, OR 97233
      View Details
    • $645,000

      SE Portland Redevelopment Land

      68-unit potential, prime location.
      12224 Ash St, Portland, OR 97233
      View Details
    • $449,900
      1,680 SF

      Gresham Duplex Near Rockwood Park

      Well-maintained duplex with strong income potential near transit and amenities.
      18427 SE Yamhill St, Gresham, OR 97233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,038 SF

      Portland Retail Center - Division St

      High-traffic retail space, multiple units available.
      12250 Division St, Portland, OR 97233
      View Details
    • $21 SF/Yr
      2,453 SF

      Shell Condition Office Space

      Office space for rent with signage and parking available.
      13908 SE Stark St, Portland, OR 97233
      View Details
    • Contact for pricing
      1,435 SF

      Walk-Up Offices with Natural Light

      Professionally managed office space near Mall 205.
      1515 SE 122Nd Ave, Portland, OR 97233
      View Details
    • $9 SF/Yr
      24,400 SF

      Industrial Space with Loading Dock

      Industrial space featuring a loading dock, parking, and signage.
      621 SE 202Nd Ave, Portland, OR 97233
      View Details
    • $22 SF/Yr
      1,050 SF

      Retail Space in Gresham Center

      Retail space available in community-focused Gresham shopping center.
      451 NE 181St Ave, Portland, OR 97233
      View Details
    • $18 SF/Yr
      650 SF

      Office Space For Rent

      650 square feet office space available for rent.
      12255 SW Main St, Portland, OR 97233
      View Details
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    215 162nd Ave
    Portland, OR 97233-3835
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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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