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

    248 Main St Hillsboro, OR 97123-4021

    • Retail space
    • 6,612 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0164611
    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

    • Retail space

    Property Details for 248 Main St

    Year built
    1920
    Lot size
    0.20 lot acres
    Property size
    6,612 SF
    Zone code
    SCC-DT
    Property type
    Retail space
    APN
    1N231CC-06400
    APU
    1N231CC06400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,162,000
      Market price range: $1.16M - $2.28M
      AI Estimate
      $1,162,000
      Market price range: $1.16M - $2.28M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,580,000
      Current use
      COMMERCIAL (GENERAL)
      $1,690,000
      Change: +7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,475,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Washington
    State
    Oregon
    Longitude
    -122.987
    Latitude
    45.5223
    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
    $4,618
    $0.00
    $0.00
    $274,120
    -
    $250,230
    $953,270
    $1,203,500

    Comparable in this City

    • Value Estimation
      $525,000
      3,000 SF

      517 1st Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      517 1st Ave, Hillsboro, OR 97123-4401
      View Details
    • Value Estimation
      $1,985,000
      11,280 SF

      460 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,280 SF
      460 10th Ave, Hillsboro, OR 97123-4603
      View Details
    • Value Estimation
      $20,440,000
      116,256 SF

      1950 Minter Brg Rd

      RETAIL STORES (PERSONAL SERVICES) • 116,256 SF
      1950 Minter Brg Rd, Hillsboro, OR 97123-5104
      View Details
    • Value Estimation
      $1,400,000
      6,940 SF

      348 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,940 SF
      348 10th Ave, Hillsboro, OR 97123-4204
      View Details
    • Value Estimation
      $1,420,000
      8,080 SF

      276 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,080 SF
      276 Main St, Hillsboro, OR 97123-4021
      View Details
    • Value Estimation
      $855,000
      4,850 SF

      345 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,850 SF
      345 Main St, Hillsboro, OR 97123-4022
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space with Baseline Frontage

      Showroom/Retail space available on E Baseline Street & SW 345th Avenue.
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      Hillsboro Retail Property For Sale

      Long-term leased retail property in vibrant Hillsboro, Oregon.
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      Downtown Hillsboro Event Venue Investment

      16,000 SF fully leased event venue for sale.
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    • $3,500,000
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      Hillsboro Retail Investment Opportunity

      14,097 SF building in thriving Hillsboro area.
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      View Details
    • $2,300,000
      642 SF

      Beaverton Retail Investment Opportunity

      Retail property with dual income streams in high-traffic location.
      21150 SW Tualatin Valley Hwy, Beaverton, OR 97123
      View Details
    • $999,000
      1.09 Acres

      Hillsboro Mixed-Use Development Opportunity

      Mixed-use development opportunity near Reed's Crossing and Intel headquarters.
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    Similar Nearby for Lease

    • $2 SF/Yr
      2,297 SF

      Retail Space with Prominent Signage

      Commercial suite suitable for restaurant, wine, retail, or corner store.
      370 E Main St, Hillsboro, OR 97123
      View Details
    • Contact for pricing
      4,200 SF

      Hillsboro Freestanding Retail Space

      Second-generation retail space in a high-visibility, freestanding building.
      404-414 SW Armco Ave, Hillsboro, OR 97123
      View Details
    • Contact for pricing
      24,997 SF

      Prime Retail Space Available

      Excellent visibility retail space in high-growth Hillsboro location.
      2055 SW Tualatin Valley Hwy, Hillsboro, OR 97123
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space with Dedicated Parking

      Retail space with dedicated parking and high traffic volume.
      18735 SW Tualatin Valley Hwy, Beaverton, OR 97123
      View Details
    • $19 SF/Yr
      1,833 SF

      Hillsboro Fitness Center Space

      1833 sq ft Retail Space in Portland
      6095 Tualatin Valley Hwy, Hillsboro, OR 97123
      View Details
    • $25 SF/Yr
      3,880 SF

      Retail Space in Aloha Market

      Retail space available in busy Aloha Market Centre.
      20163 SW Tualatin Valley Hwy, Beaverton, OR 97123
      View Details
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    248 Main St
    Hillsboro, OR 97123-4021
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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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