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

    2401 11th Mile Ave, Unit 2427 Gresham, OR 97030-3555

    • Automotive properties
    • 5,000 SF
    • 1.18 lot acres
    OFF-MARKET
    Value Estimations
    $2,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0781445
    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

    • Automotive properties

    Property Details for 2401 11th Mile Ave

    Year built
    1974
    Lot size
    1.18 lot acres
    Property size
    5,000 SF
    Zone code
    HI
    Property type
    Automotive properties
    APN
    1S3E05AD 02900
    APU
    1S3E05AD02900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,209,000
      Market price range: $858k - $2.21M
      AI Estimate
      $2,209,000
      Market price range: $858k - $2.21M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,480,000
      Current use
      RESTAURANT
      $1,790,000
      Change: +21% Conversion: Difficult
      MEDICAL BUILDING
      $1,510,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.459
    Latitude
    45.5142
    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
    $14,679
    $0.00
    $0.00
    $842,180
    -
    $295,460
    $1,294,870
    $1,590,330

    Comparable in this City

    • Value Estimation
      $3,030,000
      6,860 SF

      1655 Burnside Rd

      VEHICLE SALES, RENTALS • 6,860 SF
      1655 Burnside Rd, Gresham, OR 97030-5732
      View Details
    • Value Estimation by Request
      217 SF

      950 Wi Ne Hogan Dr

      VEHICLE SALES, RENTALS • 217 SF
      950 Wi Ne Hogan Dr, Gresham, OR 97030
      View Details
    • Value Estimation
      $2,285,000
      5,400 SF

      21855 Stark St

      VEHICLE SALES, RENTALS • 5,400 SF
      21855 Stark St, Gresham, OR 97030-2031
      View Details
    • Value Estimation
      $1,465,000
      3,320 SF

      24161 Stark St

      VEHICLE SALES, RENTALS • 3,320 SF
      24161 Stark St, Gresham, OR 97030-3360
      View Details
    • Value Estimation
      $2,300,000
      7,584 SF

      1455 Powell Blvd

      VEHICLE SALES, RENTALS • 7,584 SF
      1455 Powell Blvd, Gresham, OR 97030-8037
      View Details
    • Value Estimation
      $8,700,000
      21,000 SF

      855 Burnside Rd

      VEHICLE SALES, RENTALS • 21,000 SF
      855 Burnside Rd, Gresham, OR 97030-3923
      View Details

    Similar Nearby for Sale

    • $1,950,000
      4,436 SF

      High-Visibility Burnside Corridor Opportunity

      0.56-acre property on high-traffic Burnside, versatile and ready for redevelopment.
      786 NE Burnside St, Gresham, OR 97030
      View Details
    • $1,399,000
      5,637 SF

      Gresham Fenced Property For Sale

      Fenced property in Gresham's City Central with ample parking.
      143 NE Elliott, Gresham, OR 97030
      View Details
    • Contact for pricing

      Commercial Land in Downtown Gresham

      Over an acre of commercial land with development opportunities.
      225 Powell Blvd, Gresham, OR 97030
      View Details
    • $1,750,000
      4,436 SF

      Turnkey Auto Dealership Opportunity

      High-traffic location with DCL zoning permitting outdoor commercial sales.
      786 NE Burnside St, Gresham, OR 97030
      View Details
    • Contact for pricing

      Gresham Retail Building For Sale

      5,580 SF commercial building in downtown Gresham, Oregon.
      Gresham, OR 97030
      View Details
    • $1,400,000
      9,200 SF

      Gresham Retail Center - Owner/User Opportunity

      9,200 SF Multi-Tenant Storefront, 100% Occupied
      20 2 St, Gresham, OR 97030
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Gresham Commercial Land Pad

      ±4,000 SF Buildable Lot in Gresham, OR
      0 223 Ave, Gresham, OR 97030
      View Details
    • Contact for pricing
      5,962 SF

      Gresham Office Space For Lease

      Prime Gresham location, flexible office suites.
      1455 Division St, Gresham, OR 97030
      View Details
    • Contact for pricing

      Gresham Retail and Office Space

      Retail and office spaces in Gresham's high-tech corridor.
      21910-21968 NE Glisan St, Gresham, OR 97030
      View Details
    • Contact for pricing
      2,277 SF

      Gresham Retail Center - For Lease

      Prime Gresham location, 2,277 sq ft available.
      0 Glisan St, Gresham, OR 97030
      View Details
    • Contact for pricing

      Restaurant and Bar on Kane

      Free-standing restaurant and bar with high exposure.
      1125 NE Kane Dr, Gresham, OR 97030
      View Details
    • Contact for pricing
      46,417 SF

      Division St

      Restaurants • 46,417 SF
      0 Division St, Gresham, OR 97030
      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.
    2401 11th Mile Ave, Unit 2427
    Gresham, OR 97030-3555
    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!