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    2516 Division St Portland, OR 97202-1251

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    2516 Division St Portland, OR 97202-1251

    View on Map
    • Office properties & Spaces
    • 24,046 SF
    • 0.21 lot acres
    Off-Market
    Property ID
    US71-0726299
    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.
    Value Estimations
    $9,040,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Geode / Real Estate Agency
    • Art at the Geode / Art Gallery / Sculpture
    • Eichinger Sculpture Studio / Art Gallery / Sculpture
    • ESS Gallery / Art Gallery

    Property Details for 2516 Division St

    Year built
    2018
    Lot size
    0.21 lot acres
    Property size
    24,046 SF
    Zone code
    CS
    Property type
    Office properties & Spaces
    APN
    1S1E12BB 06600
    APU
    1S1E12BB06600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,041,000
      Market price range: $3.91M - $9.61M
      AI Estimate
      $9,041,000
      Market price range: $3.91M - $9.61M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,995,000
      Current use
      RESTAURANT
      $8,235,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $8,025,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,340,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $7,265,000
      Change: +4% Conversion: Easy
      OFFICE BUILDING
      $6,950,000
      Change: -1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $6,930,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.64
    Latitude
    45.5046
    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
    $69,866
    $0.00
    $0.00
    $2,636,570
    -
    $1,655,640
    $4,455,400
    $6,111,040

    Comparable in this City

    • Value Estimation
      $2,490,000
      8,081 SF

      8825 11th Ave

      OFFICE (GENERAL) • 8,081 SF
      8825 11th Ave, Portland, OR 97202-7079
      View Details
    • Value Estimation
      $41,005,000
      102,652 SF

      3800 22nd Ave

      OFFICE (GENERAL) • 102,652 SF
      3800 22nd Ave, Portland, OR 97202-2918
      View Details
    • Value Estimation
      $1,375,000
      3,444 SF

      7000 Milwaukie Ave

      OFFICE (GENERAL) • 3,444 SF
      7000 Milwaukie Ave, Portland, OR 97202-5719
      View Details
    • Value Estimation
      $765,000
      1,917 SF

      3835 Powell Blvd

      OFFICE (GENERAL) • 1,917 SF
      3835 Powell Blvd, Portland, OR 97202-1719
      View Details
    • Value Estimation by Request
      1,434 SF

      8428 17Th Ave

      Office properties & Spaces • 1,434 SF
      8428 17Th Ave, Portland, OR 97202
      View Details
    • Value Estimation
      $1,905,000
      4,770 SF

      3625 Cesar E Chavez Blvd

      OFFICE (GENERAL) • 4,770 SF
      3625 Cesar E Chavez Blvd, Portland, OR 97202-1702
      View Details

    Similar Nearby for Sale

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      7,778 SF

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      Rare development opportunity with high visibility and excellent location.
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    • $500,000

      Brooklyn Lot with Development Potential

      Charming office space with future development opportunity in Portland.
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    • $1,650,000
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      Commercial Building on SE Milwaukie

      Commercial building with live/work potential, to be vacated.
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    • $895,000
      3,093 SF

      Office Space on Division Street

      Office property with 3,093 square feet of space for sale.
      7656 SE Division St, Portland, OR 97202
      View Details
    • Contact for pricing

      3526 SE 28th Ave, Portland, OR 97202

      Commercial land
      3526 SE 28Th Ave, Portland, OR 97202
      View Details
    • $815,000

      Retail Opportunity in Sellwood Neighborhood

      3,033 SF retail space in desirable SE Portland neighborhood.
      1405 Southeast Tacoma St, Portland, OR 97202
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Industrial Lofts in Portland

      Four new industrial lofts available in Southeast Portland.
      2740 SE Powell Blvd, Portland, OR 97202
      View Details
    • Contact for pricing

      Riverfront Office and Coworking Spaces

      Office and coworking spaces with beachfront views and natural light.
      205 SE Spokane St, Portland, OR 97202
      View Details
    • Contact for pricing
      3,080 SF

      Medical Space Available for Lease

      3,080 SF former medical space available for lease.
      7215 SE Milwaukie Ave, Portland, OR 97202
      View Details
    • Contact for pricing
      4,586 SF

      Creative Industrial Maker Space

      Creative and industrial spaces designed for makers and entrepreneurs.
      4784 SE 17Th Ave, Portland, OR 97202
      View Details
    • Contact for pricing
      1,170 SF

      Creative Office and Retail Space

      Creative office and retail space for lease in Portland.
      2505 SE 11Th Ave, Portland, OR 97202
      View Details
    • Contact for pricing
      1,975 SF

      Office Space on SE Powell

      Office space for lease with high visibility and free parking.
      3634 SE Powell Blvd, Portland, OR 97202
      View Details
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    2516 Division St
    Portland, OR 97202-1251
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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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    2516 Division St, Portland, OR, 97202

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