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

    2621 7th Ave Portland, OR 97212-3171

    • Apartment buildings
    • 86,600 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $21,390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0168291
    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

    • The Russell by Trion Living / Apartment Complex / Property Management Company

    Property Details for 2621 7th Ave

    Year built
    2017
    Lot size
    0.42 lot acres
    Property size
    86,600 SF
    Zone code
    RH
    Property type
    Apartment buildings
    APN
    1N1E26BC 19500
    APU
    1N1E26BC19500

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,391,000
      Market price range: $13.8M - $34.2M
      AI Estimate
      $21,391,000
      Market price range: $13.8M - $34.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $23,025,000
      Current use
      RESTAURANT
      $29,655,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $26,440,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $26,160,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $26,000,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $25,030,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $24,940,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.659
    Latitude
    45.5415
    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
    $207,907
    $0.00
    $0.00
    $7,845,920
    -
    $2,087,800
    $20,912,640
    $23,000,440

    Comparable in this City

    • Value Estimation
      $4,740,000
      17,316 SF

      1410 Schuyler St, Unit 1418

      APARTMENT HOUSE (5+ UNITS) • 17,316 SF
      1410 Schuyler St, Portland, OR 97212-4436
      View Details
    • Value Estimation
      $1,935,000
      4,900 SF

      11 Ivy St

      APARTMENT HOUSE (5+ UNITS) • 4,900 SF
      11 Ivy St, Portland, OR 97212-2037
      View Details
    • Value Estimation
      $855,000
      5,336 SF

      1910 10th Ave, Unit 1916

      APARTMENT HOUSE (5+ UNITS) • 5,336 SF
      1910 10th Ave, Portland, OR 97212-4012
      View Details
    • Value Estimation
      $1,720,000
      6,086 SF

      2502 11th Ave, Unit 2524

      APARTMENT HOUSE (5+ UNITS) • 6,086 SF
      2502 11th Ave, Portland, OR 97212-4129
      View Details
    • Value Estimation
      $1,430,000
      5,610 SF

      2002 22nd Ave, Unit 2012

      APARTMENT HOUSE (5+ UNITS) • 5,610 SF
      2002 22nd Ave, Portland, OR 97212-4707
      View Details
    • Value Estimation
      $1,820,000
      6,960 SF

      1715 27th Ave

      APARTMENT HOUSE (5+ UNITS) • 6,960 SF
      1715 27th Ave, Portland, OR 97212-5018
      View Details

    Similar Nearby for Sale

    • $1,475,000
      0.15 Acres

      Portland Multifamily with Commercial Front

      Well-maintained 6-plex in Elliot neighborhood with commercial space.
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      View Details
    • $2,799,900
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      Portland 7-Plex: New Construction

      Luxury 7-unit apartment building, prime location.
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    • $349,900
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      New Condo Near Legacy Emanuel

      New construction 2 bed, 2.1 bath condo near Legacy Emanuel.
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    • $299,900
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      New Condo Near Legacy Emanuel

      New construction condo near restaurants, shops, and Legacy Emanuel Hospital.
      3558 NE Garfield Ave, Portland, OR 97212
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    • $3,699,900
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      Portland Multifamily Investment Opportunity

      9-Unit Portfolio, High ROI Potential
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      View Details
    • $1,090,000
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      Northeast Portland Six-Plex Opportunity

      Six-unit multifamily property in the heart of Northeast Portland.
      1805 NE 8Th Ave, Portland, OR 97212
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,157 SF

      Grant Park Medical Office Endcap

      Portland Medical Office Space - 7,157 SF
      1835 33Rd Ave, Portland, OR 97212
      View Details
    • Contact for pricing

      Modern Flex Space in Portland

      Turn-key flex space suitable for various businesses.
      45-57 NE Hancock St, Portland, OR 97212
      View Details
    • Contact for pricing
      2,160 SF

      Portland Warehouse with Office Space

      Warehouse with office space in Northwest Portland, close to downtown.
      3241-3271 NW 29Th Ave, Portland, OR 97212
      View Details
    • $2,425 /Mo
      2,075 SF

      Industrial Flex Space Available

      Well-maintained flex space with grade-level loading and parking.
      3605 SE 21St Ave, Portland, OR 97212
      View Details
    • $22 SF/Yr
      1,647 SF

      Neighborhood Commercial Space For Rent

      Commercial space with off-street parking near NW 23rd and Slabtown.
      1723 NW 24Th Ave, Portland, OR 97212
      View Details
    • $22 SF/Yr
      1 SF

      Mont Blanc Building: Irvington Office Space

      Portland Office Suites: Irvington's Historic Charm
      1836 7Th Ave, Portland, OR 97212
      View Details
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    2621 7th Ave
    Portland, OR 97212-3171
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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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