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

    2259 66th Ave, Unit 2313 Portland, OR 97215-4022

    • Apartment buildings
    • 14,500 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $2,865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0509880
    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 2259 66th Ave

    Year built
    1961
    Construction
    FRAME
    Lot size
    0.61 lot acres
    Property size
    14,500 SF
    Zone code
    R2
    Property type
    Apartment buildings
    APN
    1S2E05CC 04200
    APU
    1S2E05CC04200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,866,000
      Market price range: $2.31M - $5.73M
      AI Estimate
      $2,866,000
      Market price range: $2.31M - $5.73M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,855,000
      Current use
      AUTO REPAIR, GARAGE
      $4,425,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $4,380,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $4,355,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $4,190,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $4,175,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.596
    Latitude
    45.5063
    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
    $27,860
    $0.00
    $0.00
    $1,051,360
    -
    $1,328,600
    $1,358,600
    $2,687,200

    Comparable in this City

    • Value Estimation
      $7,630,000
      36,693 SF

      723 60th Ave

      APARTMENT HOUSE (5+ UNITS) • 36,693 SF
      723 60th Ave, Portland, OR 97215
      View Details
    • Value Estimation
      $8,145,000
      20,618 SF

      5960 Burnside St

      APARTMENT HOUSE (5+ UNITS) • 20,618 SF
      5960 Burnside St, Portland, OR 97215-1776
      View Details
    • Value Estimation
      $3,200,000
      12,320 SF

      911 60th Ave

      APARTMENT HOUSE (5+ UNITS) • 12,320 SF
      911 60th Ave, Portland, OR 97215-2842
      View Details
    • Value Estimation
      $925,000
      2,688 SF

      245 80th Ave

      APARTMENT HOUSE (5+ UNITS) • 2,688 SF
      245 80th Ave, Portland, OR 97215-1567
      View Details
    • Value Estimation
      $15,360,000
      48,640 SF

      4381 Belmont St

      APARTMENT HOUSE (5+ UNITS) • 48,640 SF
      4381 Belmont St, Portland, OR 97215-1631
      View Details
    • Value Estimation
      $2,110,000
      11,880 SF

      4305 Belmont St

      APARTMENT HOUSE (5+ UNITS) • 11,880 SF
      4305 Belmont St, Portland, OR 97215-1665
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Six-Unit Building in Portland

      New construction in Mt. Tabor neighborhood with modern layouts.
      Portland, OR 97215
      View Details
    • $4,999,800
      9,690 SF

      Belmont 20-Unit Apartment Complex

      Portland, OR: Luxury Mixed-Use Investment
      4738 Belmont St, Portland, OR 97215
      View Details
    • $4,090,000
      19,800 SF

      24-Unit Multifamily Investment Opportunity

      24-unit multifamily property with long-term tenant in South Tabor.
      2219 SE 66Th Ave, Portland, OR 97215
      View Details
    • $2,295,000
      8,550 SF

      Modernized Multi-Unit Apartment Building

      Turn-key, fully stabilized multifamily asset in Southeast Portland's Montavilla neighborhood.
      1904 SE 80Th Ave, Portland, OR 97215
      View Details
    • $4,799,900
      9,690 SF

      Modern Apartment Complex with Retail

      New 20-unit apartment complex with retail space in Portland.
      4738 SE Belmont St, Portland, OR 97215
      View Details
    • $895,000
      2,284 SF

      Portland Triplex in Hawthorne

      Investment opportunity in desirable Hawthorne location with parking and garage.
      4320 SE Hawthorne Blvd, Portland, OR 97215
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      39,603 SF

      Meridian Lofts: Prime Retail Space

      Modern Portland retail space, ideal for various uses.
      1478 49Th Ave, Portland, OR 97215
      View Details
    • $450 /Mo
      200 SF

      Office Space Available For Rent

      Office space available for rent with 200 square feet.
      7901-7911 SE Stark St, Portland, OR 97215
      View Details
    • Contact for pricing
      1,113 SF

      Retail Space in Portland Center

      Retail space in densely populated Portland neighborhood near I-84.
      5504-5534 E Burnside St, Portland, OR 97215
      View Details
    • Contact for pricing

      Office/Retail Space in Mt. Tabor

      Office/retail space in desirable Mt. Tabor neighborhood with unique features.
      6045 SE Stark St, Portland, OR 97215
      View Details
    • $28 SF/Yr
      39,603 SF

      Hawthorne Blvd Retail/Restaurant Space

      Ground floor retail or restaurant space in new mixed-use building.
      1478 SE 49Th Ave, Portland, OR 97215
      View Details
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    Portland, OR 97215-4022
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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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