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

    2622 Belmont St, Unit 2628 Portland, OR 97214-2916

    • Turn key restaurants
    • 4,307 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0922261
    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 Vern / Bar & Pub

    Property Details for 2622 Belmont St

    Year built
    1911
    Lot size
    0.14 lot acres
    Property size
    4,307 SF
    Zone code
    CS
    Property type
    Turn key restaurants
    APN
    1S1E01BB 11900
    APU
    1S1E01BB11900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $831,000
      Market price range: $831k - $2.13M
      AI Estimate
      $831,000
      Market price range: $831k - $2.13M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,315,000
      MEDICAL BUILDING
      $1,300,000
      COMMERCIAL (GENERAL)
      $1,250,000
      OFFICE BUILDING
      $1,245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.638
    Latitude
    45.5163
    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
    $5,827
    $0.00
    $0.00
    $219,900
    -
    $309,990
    $538,450
    $848,440

    Comparable in this City

    • Value Estimation by Request
      1,071 SF

      2411 Belmont St

      RESTAURANT • 1,071 SF
      2411 Belmont St, Portland, OR 97214-2820
      View Details
    • Value Estimation
      $935,000
      3,348 SF

      3006 Hawthorne Blvd

      RESTAURANT • 3,348 SF
      3006 Hawthorne Blvd, Portland, OR 97214-4121
      View Details
    • Value Estimation
      $1,930,000
      10,000 SF

      706-710 6th Ave

      RESTAURANT • 10,000 SF
      706-710 6th Ave, Portland, OR 97214
      View Details
    • Value Estimation
      $1,285,000
      3,600 SF

      2832 Belmont St

      RESTAURANT • 3,600 SF
      2832 Belmont St, Portland, OR 97214-4024
      View Details
    • Value Estimation by Request
      1,380 SF

      2304 Belmont St

      RESTAURANT • 1,380 SF
      2304 Belmont St, Portland, OR 97214-2819
      View Details
    • Value Estimation by Request
      0.21 Acres

      3832 Wi Se Hawthorne Blvd

      RESTAURANT • 0.21 Acres
      3832 Wi Se Hawthorne Blvd, Portland, OR 97214
      View Details

    Similar Nearby for Sale

    • $3,000,000
      10,000 SF

      Production and Storage Facility

      10,000 SF parcel with tasting room, bar, and parking.
      61 SE Yamhill St, Portland, OR 97214
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    • Contact for pricing
      18,248 SF

      Historic Portland Property with Renovation

      Historic Portland property suitable for event, restaurant, or creative space.
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    • $4,300,000
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      Portland Restaurant - Net Lease

      Established restaurant, strong NOI, prime location.
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      Central Eastside Commercial Building

      Single-story commercial building in Portland's vibrant Central Eastside Business District.
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    • $850,000
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      Buckman Retail Building with Parking

      Retail building in Buckman with parking and development potential.
      2003 SE Belmont St, Portland, OR 97214
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    • $4,380,000
      12,565 SF

      Retail Property with Parking Spaces

      Retail property featuring off-street parking and loading docks.
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    Similar Nearby for Lease

    • $40 SF/Yr
      11,407 SF

      Hawthorne Blvd Retail Opportunity

      Prime Portland retail space, 11,407 SF, partial vacancy.
      4111-4131 Hawthorne Blvd, Portland, OR 97214
      View Details
    • Contact for pricing
      200 SF

      Portland Commercial Kitchen Space

      Turnkey Ghost Kitchen, 200 sq ft, Multnomah County.
      1125-1135 Grand Ave, Portland, OR 97214
      View Details
    • Contact for pricing
      4,398 SF

      Restaurant/Bar Space Near Concert Hall

      Former restaurant and bar space in a high-density area.
      723-737 SW Salmon St, Portland, OR 97214
      View Details
    • Contact for pricing
      1,316 SF

      Retail Space on Hawthorne Boulevard

      Retail suites available with potential for restaurant use.
      3557 SE Hawthorne Blvd, Portland, OR 97214
      View Details
    • Contact for pricing
      3,980 SF

      Prime Portland Retail Spaces

      New 7-story building, multiple units available.
      550 Martin Luther King Jr Blvd, Portland, OR 97214
      View Details
    • $35 SF/Yr
      700 SF

      Retail Space in Tourist District

      Prime location with kitchen infrastructure and sidewalk seating.
      1128 SW Alder St, Portland, OR 97214
      View Details
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    2622 Belmont St, Unit 2628
    Portland, OR 97214-2916
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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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