Sign Up Successful!
You now have access to more from Realmo!
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

    2802 Steele St, Unit 2814 Portland, OR 97202-4525

    • Medical offices
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0055201
    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

    • Northwest Cardiovascular Institute / Medical Clinic

    Property Details for 2802 Steele St

    Lot size
    0.48 lot acres
    Zone code
    CN2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1S1E13BC 00600
    APU
    1S1E13BC00600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.637
    Latitude
    45.4843
    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
    $5,394
    $0.00
    $0.00
    $203,560
    -
    $569,610
    $0.00
    $569,610

    Comparable in this City

    • Value Estimation
      $1,610,000
      5,000 SF

      8065 13th Ave

      MEDICAL BUILDING • 5,000 SF
      8065 13th Ave, Portland, OR 97202-6663
      View Details
    • Value Estimation by Request
      14,661 SF

      6327 Milwaukie Ave

      MEDICAL BUILDING • 14,661 SF
      6327 Milwaukie Ave, Portland, OR 97202-5418
      View Details
    • Value Estimation by Request
      17,042 SF

      3930 Division St

      MEDICAL BUILDING • 17,042 SF
      3930 Division St, Portland, OR 97202-1643
      View Details
    • Value Estimation by Request
      5,990 SF

      5005 28th Ave

      MEDICAL BUILDING • 5,990 SF
      5005 28th Ave, Portland, OR 97202-4445
      View Details
    • Value Estimation by Request
      16,960 SF

      3653 34th Ave, Unit 3665

      MEDICAL BUILDING • 16,960 SF
      3653 34th Ave, Portland, OR 97202-3034
      View Details
    • Value Estimation by Request
      5,674 SF

      809 Powell Blvd

      MEDICAL BUILDING • 5,674 SF
      809 Powell Blvd, Portland, OR 97202-2531
      View Details

    Similar Nearby for Sale

    • $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
      10,800 SF

      New Office Building For Sale

      Office space in new building with high visibility and traffic.
      3620 SE Powell Blvd, Portland, OR 97202
      View Details
    • $500,000
      1,203 SF

      Portland Office/Industrial Space For Sale

      Office/Industrial space in Brooklyn neighborhood, ideal for small business.
      1915 SE Pershing St, Portland, OR 97202
      View Details
    • $749,000
      2,856 SF

      Southeast Portland Commercial Space

      Commercial space with two rentable units and off-street parking.
      5848 SE Milwaukie Ave, Portland, OR 97202
      View Details
    • $2,600,000
      9,490 SF

      Prime Portland Executive Office Building

      9,490 SF Office, $2.6M, CM2 Zoning
      3536 26Th Ave, Portland, OR 97202
      View Details
    • $339,900
      854 SF

      Charming Home Near Reed College

      Single-family home near Reed College, ideal for investment or student housing.
      5173 SE 28Th Ave, Portland, OR 97202
      View Details

    Similar Nearby for Lease

    • 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
      1,160 SF

      Medical Office Space Available

      Second generation medical office with high-exposure signage.
      7904 SE 13Th Ave, Portland, OR 97202
      View Details
    • $22 SF/Yr
      16,413 SF

      River Park Center Office Suites

      A-Class Multnomah County office space.
      205 Spokane St, Portland, OR 97202
      View Details
    • $28 SF/Yr
      1,333 SF

      Prime Portland Office Space

      1333 sq ft Executive Office, Ample Parking
      4305-4307 Milwaukie Ave, Portland, OR 97202
      View Details
    • $24 SF/Yr
      2,335 SF

      Portland Retail Spaces For Lease

      Prime Portland retail, two spaces available.
      1100 Division St, Portland, OR 97202
      View Details
    • Contact for pricing
      2,232 SF

      Creative Space in Studio Center

      Retail/creative space with visibility and private entrance.
      1235 SE Division St, Portland, OR 97202
      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.
    2802 Steele St, Unit 2814
    Portland, OR 97202-4525
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.