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

    2220 1st Ave Portland, OR 97201-5003

    • Medical Office Space
    • 6,675 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Jul 31, 2025
    $2,200,000
    Value Estimations
    $2,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0075337
    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

    • Helfgott Research Institute at NUNM / Research Institute / Research Foundation
    • Dohn R. Kruschwitz, MD / Physician
    • Dr. Carrie Norris / Alternative Medicine Practice
    • City Center Parking / Parking Lot & Garage
    • 2220 SW 1st Ave Parking / Parking Lot & Garage

    Property Details for 2220 1st Ave

    Year built
    1967
    Lot size
    0.50 lot acres
    Property size
    6,675 SF
    Zone code
    CXD
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1S1E03CC 00400
    APU
    1S1E03CC00400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,016,000
      Market price range: $957k - $2.79M
      AI Estimate
      $2,016,000
      Market price range: $957k - $2.79M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,015,000
      Current use
      RESTAURANT
      $2,285,000
      Change: +13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,040,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $2,005,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,930,000
      Change: -4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,775,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.678
    Latitude
    45.5068
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $2,995,880
    $1,034,730
    $4,030,610

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      1411 Wi Sw 14th Ave

      MEDICAL BUILDING • 0.08 Acres
      1411 Wi Sw 14th Ave, Portland, OR 97201
      View Details
    • Value Estimation by Request
      500,000 SF

      2750 Moody Ave

      MEDICAL BUILDING • 500,000 SF
      2750 Moody Ave, Portland, OR 97201-5042
      View Details
    • Value Estimation
      $1,680,000
      4,489 SF

      1411 14th Ave

      MEDICAL BUILDING • 4,489 SF
      1411 14th Ave, Portland, OR 97201-2521
      View Details
    • Value Estimation by Request
      736 SF

      1541 Market St

      MEDICAL BUILDING • 736 SF
      1541 Market St, Portland, OR 97201-2607
      View Details
    • Value Estimation by Request
      0.11 Acres

      1316 Wi Sw 13th Ave

      MEDICAL BUILDING • 0.11 Acres
      1316 Wi Sw 13th Ave, Portland, OR 97201
      View Details
    • Value Estimation
      $1,630,000
      3,889 SF

      1933 Jefferson St

      MEDICAL BUILDING • 3,889 SF
      1933 Jefferson St, Portland, OR 97201-2405
      View Details

    Similar Nearby for Sale

    • $6,650,000
      38,000 SF

      Medical/Education Office Building For Sale

      36,320 SF medical/education building with covered parking.
      2828 SW Corbett Ave, Portland, OR 97201
      View Details
    • Contact for pricing

      Office Building Near South Waterfront

      Office building near Portland's South Waterfront with medical infrastructure.
      Portland, OR 97201
      View Details
    • $1,950,000
      7,500 SF

      Prime Portland Executive Office Building

      7,500 SF Owner/User Opportunity in SW Portland
      1430 Clay St, Portland, OR 97201
      View Details
    • $925,000

      Goose Hollow Redevelopment Opportunity

      Two contiguous lots with building in Goose Hollow near I-405.
      1411 SW 14Th Ave, Portland, OR 97201
      View Details
    • Contact for pricing
      28,028 SF

      Historic Office Building with Income

      Move-in ready office building with parking and income potential.
      2828 SW Naito Pkwy, Portland, OR 97201
      View Details
    • Contact for pricing
      3,011 SF

      Office Space Available in Portland

      3,011 square foot office space for sale in Portland.
      2835 NE Broadway, Portland, OR 97201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      299,882 SF

      RiverPlace Retail Space Available

      Portland, OR: 954 SF Retail/Office Suite
      1811 River Dr, Portland, OR 97201
      View Details
    • Contact for pricing
      24,523 SF

      Office Space with Great Access

      Office space with convenient access to transportation and amenities.
      2020 SW 4Th Ave, Portland, OR 97201
      View Details
    • $28 SF/Yr
      43,867 SF

      Downtown Portland Office Space Rental

      Office space in downtown Portland with river and mountain views.
      1618 Southwest 1St Ave, Portland, OR 97201
      View Details
    • $18 SF/Yr
      3,950 SF

      Prime Portland Executive Office Space

      3,950 SF Office, Abundant Parking
      1410 Jefferson St, Portland, OR 97201
      View Details
    • $30 SF/Yr
      5,456 SF

      Customizable Office Space in Portland

      50,000+ SF customizable office space with mountain and river views.
      222 SW Columbia St, Portland, OR 97201
      View Details
    • $25 SF/Yr
      18,249 SF

      Creative Office Space For Rent

      18,249 SF creative office space with high ceilings.
      1320 SW Broadway, Portland, OR 97201
      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.
    2220 1st Ave
    Portland, OR 97201-5003
    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!