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    Property profile & analytics

    2393 Fremont St Portland, OR 97212-2455

    • Retail space
    • 5,741 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $2,470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0720956
    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

    • Begin Pilates & Yoga / Gym & Fitness Center
    • WILD Pet Provisions / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • Popina Swimwear / Swimwear Store
    • Guilder / Cafe & Coffee Shop
    • Yoga for the Inflexible Guy / Gym & Fitness Center

    Property Details for 2393 Fremont St

    Year built
    2015
    Lot size
    0.23 lot acres
    Property size
    5,741 SF
    Zone code
    CN2H
    Property type
    Retail space
    APN
    1N1E23DD 20800
    APU
    1N1E23DD20800

    Description

    This exceptional retail space, located within the vibrant Lyon Court building (2393 NE Fremont St, Portland, OR 97212), offers 2,675 square feet of prime commercial space. Built in 2015, this two-story building boasts a total of 5,741 square feet and is situated at the signalized corner of NE 24th and NE Fremont Streets, providing excellent visibility and accessibility. The property benefits from high foot and car traffic, making it an ideal location for a variety of retail, restaurant, cafe, or bar concepts. Its strategic location at the intersection of Portland's Alameda and Irvington neighborhoods places it within easy walking distance of numerous amenities, including schools, parks, daycare centers, banks, grocery stores, and other retail businesses. The surrounding area is characterized by its historic architecture and strong demographics, creating a desirable and thriving commercial environment. This space is part of a multi-tenant building, offering a collaborative and dynamic atmosphere. The property's address is easily accessible via NE 24th Street. This is a rare opportunity to secure a well-located, modern retail space in a highly sought-after Portland neighborhood. The building's contemporary design complements the neighborhood's historic charm. This space is ready for immediate occupancy and presents a unique chance to establish or expand a business in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,469,000
      Market price range: $1.02M - $2.47M
      AI Estimate
      $2,469,000
      Market price range: $1.02M - $2.47M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,725,000
      Current use
      RESTAURANT
      $1,965,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,755,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $1,735,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $1,660,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,655,000
      Change: -4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,525,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.641
    Latitude
    45.5485
    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
    $22,749
    $0.00
    $0.00
    $858,490
    -
    $897,750
    $1,212,480
    $2,110,230

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      3946 Wi Ne Martin Luther King Blvd

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    • Value Estimation
      $2,290,000
      7,068 SF

      2627 M L King Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,068 SF
      2627 M L King Blvd, Portland, OR 97212-3758
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    • Value Estimation
      $4,430,000
      14,750 SF

      2300 M L King Blvd, Unit 2322

      RETAIL STORES (PERSONAL SERVICES) • 14,750 SF
      2300 M L King Blvd, Portland, OR 97212-3715
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    • Value Estimation
      $805,000
      4,540 SF

      425 Tillamook St

      RETAIL STORES (PERSONAL SERVICES) • 4,540 SF
      425 Tillamook St, Portland, OR 97212-3898
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    • Value Estimation
      $1,490,000
      6,025 SF

      4055-4059 Sandy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,025 SF
      4055-4059 Sandy Blvd, Portland, OR 97212
      View Details
    • Value Estimation
      $2,365,000
      8,280 SF

      2324-2328 Fremont St

      RETAIL STORES (PERSONAL SERVICES) • 8,280 SF
      2324-2328 Fremont St, Portland, OR 97212
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Retail Space in Portland, OR

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      Versatile Space in Central Location

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    2393 Fremont St
    Portland, OR 97212-2455
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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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