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    Property profile & analytics

    2275-2279 Johnson St Portland, OR 97210

    • Investment properties
    • 1,912 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0403446
    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

    • Investment properties

    Property Details for 2275-2279 Johnson St

    Year built
    1884
    Lot size
    0.02 lot acres
    Property size
    1,912 SF
    Zone code
    CS
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1N1E33BC 01300
    APU
    1N1E33BC01300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $681,000
      Market price range: $510k - $840k
      AI Estimate
      $681,000
      Market price range: $510k - $840k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $635,000
      Current use
      AUTO REPAIR, GARAGE
      $585,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $580,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $575,000
      Change: -10% Conversion: Easy
      OFFICE BUILDING
      $555,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.698
    Latitude
    45.5285
    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
    $9,007
    $0.00
    $0.00
    $340,230
    -
    $315,000
    $584,140
    $899,140

    Comparable in this City

    • Value Estimation
      $3,480,000
      7,919 SF

      2360 Quimby St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,919 SF
      2360 Quimby St, Portland, OR 97210-2626
      View Details
    • Value Estimation
      $840,000
      2,637 SF

      720-722 23rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,637 SF
      720-722 23rd Ave, Portland, OR 97210
      View Details
    • Value Estimation
      $1,140,000
      4,186 SF

      2370 Flanders St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,186 SF
      2370 Flanders St, Portland, OR 97210-3410
      View Details
    • Value Estimation
      $1,100,000
      2,847 SF

      2601-2605 Thurman St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,847 SF
      2601-2605 Thurman St, Portland, OR 97210
      View Details
    • Value Estimation by Request
      1,299 SF

      3333 Saint Helens Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,299 SF
      3333 Saint Helens Rd, Portland, OR 97210-1309
      View Details
    • Value Estimation
      $765,000
      2,280 SF

      1536 23rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,280 SF
      1536 23rd Ave, Portland, OR 97210-2618
      View Details

    Similar Nearby for Sale

    • $929,000
      2,247 SF

      NW Thurman Mixed-Use Building

      Commercial mixed-use building suitable for office, retail, or live/work.
      2617 NW Thurman St, Portland, OR 97210
      View Details
    • Contact for pricing
      6,750 SF

      Historic Nob Hill Commercial Asset

      Classic 1892 building in desirable Northwest District location.
      1133 NW 21St Ave, Portland, OR 97210
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    • $1,450,000
      3,247 SF

      Renovated Mixed-Use Building on 23rd

      Fully renovated, four-story mixed-use building in Portland's Alphabet District.
      919 NW 23Rd Ave, Portland, OR 97210
      View Details
    • New
      $1,175,000
      3,033 SF

      Northwest Portland Live-Work Townhouse

      San Franciscan-style townhouse with commercial space in Northwest Portland.
      2419 NW Thurman St, Portland, OR 97210
      View Details
    • Contact for pricing

      Industrial Property Near Downtown Portland

      Industrial property with convenient access to major transportation routes.
      2727 Northwest Saint Helens Rd, Portland, OR 97210
      View Details
    • $250,000
      0.05 Acres

      Buildable Lots in West Hills

      Rare buildable lots in Portland's coveted West Hills.
      NW Royal - Lot 3 Blvd, Portland, OR 97210
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space with Office Buildout

      3,000 SF industrial space featuring offices and loading doors.
      3150 NW 31St Ave, Portland, OR 97210
      View Details
    • Contact for pricing

      Private Office Space for Rent

      Private open-plan workspace for 15 people with shared spaces.
      2175 NW Raleigh St, Portland, OR 97210
      View Details
    • Contact for pricing

      Functional Industrial Space on Front Avenue

      Industrial space with offices, showroom, dock and grade loading.
      2901 NW Front Ave, Portland, OR 97210
      View Details
    • Contact for pricing
      5,033 SF

      Office Space with Mountain Views

      Office space for lease with views of Mt. St. Helens.
      3077 NW Saint Helens Rd, Portland, OR 97210
      View Details
    • Contact for pricing
      1,504 SF

      NW 23rd Avenue Restaurant Space

      Second generation restaurant space in Portland's Northwest District.
      2311-2327 NW Northrup St, Portland, OR 97210
      View Details
    • $25 SF/Yr
      1,510 SF

      Retail Space in Uptown District

      Retail space in the heart of Portland's urban uptown district.
      2351 NW Westover Rd, Portland, OR 97210
      View Details
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    Portland, OR 97210
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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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