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

    215 9th Ave Portland, OR 97214-1358

    • Office Properties & Spaces
    • 25,091 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $5,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0402658
    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

    • Night Flight Aerial & Circus Arts / Dance School / Circus
    • East Bank Communications Group / Advertising Agency / Media Company
    • Rustica Restaurants / Restaurant
    • NaturalWays Pediatrics / Medical Clinic
    • Blackbird Natural Health / Chiropractor / Acupuncture Clinic

    Property Details for 215 9th Ave

    Year built
    1928
    Lot size
    0.46 lot acres
    Property size
    25,091 SF
    Zone code
    EXD
    Property type
    Office Properties & Spaces
    APN
    1N1E35CC 05800
    APU
    1N1E35CC05800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,348,000
      Market price range: $5.35M - $10.4M
      AI Estimate
      $5,348,000
      Market price range: $5.35M - $10.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $7,275,000
      Current use
      RESTAURANT
      $8,595,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $8,075,000
      Change: +11% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,660,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $7,580,000
      Change: +4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $7,425,000
      Change: +2% Conversion: Moderate
      OFFICE BUILDING
      $7,250,000
      Change: -0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.657
    Latitude
    45.5211
    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
    $34,707
    $0.00
    $0.00
    $1,309,750
    -
    $2,722,800
    $900,270
    $3,623,070

    Comparable in this City

    • Value Estimation
      $36,050,000
      169,117 SF

      7 Stark St

      OFFICE (GENERAL) • 169,117 SF
      7 Stark St, Portland, OR 97214-1362
      View Details
    • Value Estimation
      $7,910,000
      19,635 SF

      81 Yamhill St

      OFFICE (GENERAL) • 19,635 SF
      81 Yamhill St, Portland, OR 97214-2134
      View Details
    • Value Estimation
      $12,885,000
      35,567 SF

      959 Division St

      OFFICE (GENERAL) • 35,567 SF
      959 Division St, Portland, OR 97214-4672
      View Details
    • Value Estimation
      $860,000
      4,026 SF

      522-532 Clay St

      OFFICE (GENERAL) • 4,026 SF
      522-532 Clay St, Portland, OR 97214
      View Details
    • Value Estimation
      $1,105,000
      5,004 SF

      1221 Madison St

      OFFICE (GENERAL) • 5,004 SF
      1221 Madison St, Portland, OR 97214-3890
      View Details
    • Value Estimation
      $4,265,000
      17,550 SF

      1006 Grand Ave

      OFFICE (GENERAL) • 17,550 SF
      1006 Grand Ave, Portland, OR 97214-2398
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,400 SF

      Belmont Street Office & Warehouse

      Portland Industrial/Office Space: 13,400 SF
      707 Belmont St, Portland, OR 97214
      View Details
    • $1,300,000
      5,145 SF

      Abbey House: Hawthorne District Gem

      Mixed-use building, strong NOI, value-add potential.
      2928 Hawthorne Blvd, Portland, OR 97214
      View Details
    • $3,350,000
      10,800 SF

      Southeast Portland Office Building

      10,800 SF Executive Office, $3.35M
      1224 Oak St, Portland, OR 97214
      View Details
    • $4,300,000
      16,597 SF

      Burnside Trolley Building: Portland Office

      Prime Portland Office Building, High NOI
      2705 Burnside St, Portland, OR 97214
      View Details
    • Contact for pricing
      16,630 SF

      Historic Hawthorne Masonic Building Space

      Landmark building with ballroom, ideal for events or creative office.
      3862 SE Hawthorne Blvd, Portland, OR 97214
      View Details
    • $850,000
      1,676 SF

      Creative Space with High Ceilings

      Creative office/retail space with open layout and natural light.
      216 NW 15Th Ave, Portland, OR 97214
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,400 SF

      Portland Executive Office & Warehouse

      13,400 SF, Single Tenant, Prime Location
      707 Belmont St, Portland, OR 97214
      View Details
    • $25 SF/Yr
      1,451 SF

      Portland Retail/Office Opportunity

      Prime Portland location, 1,451 sq ft.
      1431 23Rd Ave, Portland, OR 97214
      View Details
    • $15 SF/Yr
      8,020 SF

      Portland Executive Office Space

      Prime Portland Office: 4,040 SF Available
      2324 Caruthers St, Portland, OR 97214
      View Details
    • $40 SF/Yr
      11,407 SF

      Hawthorne Blvd Retail Opportunity

      Prime Portland retail space, 11,407 SF, partial vacancy.
      4111-4131 Hawthorne Blvd, Portland, OR 97214
      View Details
    • Contact for pricing
      17,167 SF

      Portland Central Eastside Office Space

      7,282 SF Creative Office Available
      2105 7Th Ave, Portland, OR 97214
      View Details
    • $25 SF/Yr
      3,922 SF

      Prime Portland Office Space

      Historic Buckman neighborhood office suites
      1110 Alder St, Portland, OR 97214
      View Details
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    215 9th Ave
    Portland, OR 97214-1358
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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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