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    Property profile & analytics

    2400 Broadway St Portland, OR 97232-1634

    • Turn key restaurants
    • 6,103 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0606573
    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

    • Turn key restaurants

    Property Details for 2400 Broadway St

    Year built
    1900
    Lot size
    0.19 lot acres
    Property size
    6,103 SF
    Zone code
    CS
    Property type
    Turn key restaurants
    APN
    1N1E25CC 14300
    APU
    1N1E25CC14300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,697,000
      Market price range: $1.18M - $3.01M
      AI Estimate
      $1,697,000
      Market price range: $1.18M - $3.01M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,090,000
      Current use
      COMMERCIAL (GENERAL)
      $1,970,000
      Change: -6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,865,000
      Change: -11% Conversion: Difficult
      MEDICAL BUILDING
      $1,845,000
      Change: -12% Conversion: Difficult
      RETAIL STORES
      $1,830,000
      Change: -12% Conversion: Easy
      OFFICE BUILDING
      $1,765,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.641
    Latitude
    45.5349
    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
    $19,153
    $0.00
    $0.00
    $722,780
    -
    $1,088,620
    $1,089,150
    $2,177,770

    Comparable in this City

    • Value Estimation
      $2,290,000
      4,632 SF

      815 Weidler St

      RESTAURANT • 4,632 SF
      815 Weidler St, Portland, OR 97232-1224
      View Details
    • Value Estimation
      $855,000
      1,728 SF

      801-805 Broadway

      RESTAURANT • 1,728 SF
      801-805 Broadway, Portland, OR 97232
      View Details
    • Value Estimation
      $655,000
      2,161 SF

      3223 Broadway St

      RESTAURANT • 2,161 SF
      3223 Broadway St, Portland, OR 97232-1814
      View Details
    • Value Estimation by Request
      1,240 SF

      2314 Broadway St

      RESTAURANT • 1,240 SF
      2314 Broadway St, Portland, OR 97232-1611
      View Details
    • Value Estimation by Request
      1,730 SF

      1705 Couch St

      RESTAURANT • 1,730 SF
      1705 Couch St, Portland, OR 97232-3053
      View Details
    • Value Estimation
      $1,210,000
      4,875 SF

      2828 Glisan St

      RESTAURANT • 4,875 SF
      2828 Glisan St, Portland, OR 97232-2434
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,750 SF

      Hollywood District Office/Retail Building

      Turn-key office/retail building in Portland's Hollywood District.
      3902 NE Sandy Blvd, Portland, OR 97232
      View Details
    • Contact for pricing

      Former Sears Store in Portland

      Four-story retail building in Lloyd Center Mall, Portland, Oregon.
      1260 Lloyd Ctr, Portland, OR 97232
      View Details
    • Contact for pricing
      7,250 SF

      Turn-Key Retail Space Available

      Retail space with open floor plan and corner exposure.
      3301 NE Sandy Blvd, Portland, OR 97232
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    • $978,000

      Former Senior Care Facility

      Former senior care facility ideal for multifamily and senior living.
      34 NE 20Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing
      3,894 SF

      Versatile Industrial Property Near Sandy Boulevard

      CM3-zoned industrial property with flexible space in prime Portland location.
      2319 NE Glisan St, Portland, OR 97232
      View Details
    • $2,350,000
      2,200 SF

      Prime Lloyd District Location

      High-visibility property in Portland's Lloyd District with income potential.
      35 Northeast Weidler St, Portland, OR 97232
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo

      NE Sandy Blvd

      Prime NE Sandy Blvd Retail Space
      11518 NE Sandy Blvd, Portland, OR 97232
      View Details
    • Contact for pricing

      Retail/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
      1211-1223 NE Martin Luther King Jr Blvd, Portland, OR 97232
      View Details
    • Contact for pricing

      Second Generation Bar/Retail Space

      Second generation bar/retail space available for lease.
      1440 NE Broadway, Portland, OR 97232
      View Details
    • Contact for pricing
      12,500 SF

      Portland Central Business District Location

      Office and retail spaces in the heart of Portland.
      851 SW 6Th Ave, Portland, OR 97232
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      1448 NE Weidler St, Portland, OR 97232
      View Details
    • $25 SF/Yr

      Retail/Service Space on Burnside

      Retail and service spaces available in a new mixed-use building.
      77 NE Grand Ave, Portland, OR 97232
      View Details
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    2400 Broadway St
    Portland, OR 97232-1634
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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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