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    Property profile & analytics

    2962 Baseline St Cornelius, OR 97113-8631

    • Retail space
    • 7,760 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Jan 09, 2024
    $2,000,000
    Value Estimations
    $1,490,000
    Show details
    Cap Rate Potential
    5.7%
    Retail space
    Location Intelligence
    Property ID
    US71-1092986
    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

    • Moving Supplies at U-Haul / Big Box & Wholesale Store
    • U-Box at U-Haul / Moving Company / Storage Facility
    • U-Haul Moving & Storage of Cornelius / Car Rental Facility
    • Trailer Rental at U-Haul / Car Rental Facility

    Property Details for 2962 Baseline St

    Year built
    1970
    Lot size
    0.43 lot acres
    Property size
    7,760 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    1N334DD-07900
    APU
    1N334DD07900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,550,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,465,000
      6.5%
      $1,355,000
      7%
      $1,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,014,000
      Market price range: $1.01M - $2.58M
      AI Estimate
      $1,014,000
      Market price range: $1.01M - $2.58M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,735,000
      Current use
      MEDICAL BUILDING
      $2,475,000
      Change: +43% Conversion: Difficult
      RESTAURANT
      $2,350,000
      Change: +35% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,150,000
      Change: +24% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,725,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Washington
    State
    Oregon
    Longitude
    -123.035
    Latitude
    45.5204
    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
    $4,201
    $0.00
    $0.00
    $263,690
    -
    $230,940
    $476,790
    $707,730

    Comparable in this City

    • Value Estimation
      $1,135,000
      3,776 SF

      2245 Baseline St

      RETAIL STORES (PERSONAL SERVICES) • 3,776 SF
      2245 Baseline St, Cornelius, OR 97113-8617
      View Details
    • Value Estimation by Request
      2,650 SF

      1206 Baseline St

      RETAIL STORES (PERSONAL SERVICES) • 2,650 SF
      1206 Baseline St, Cornelius, OR 97113
      View Details
    • Value Estimation
      $615,000
      2,754 SF

      1216 Baseline St

      RETAIL STORES (PERSONAL SERVICES) • 2,754 SF
      1216 Baseline St, Cornelius, OR 97113
      View Details
    • Value Estimation
      $36,265,000
      154,371 SF

      220 Adair St

      RETAIL STORES (PERSONAL SERVICES) • 154,371 SF
      220 Adair St, Cornelius, OR 97113-8404
      View Details
    • Value Estimation
      $820,000
      6,262 SF

      227 Adair St

      RETAIL STORES (PERSONAL SERVICES) • 6,262 SF
      227 Adair St, Cornelius, OR 97113-8403
      View Details
    • Value Estimation
      $2,115,000
      7,361 SF

      1888 Baseline St

      RETAIL STORES (PERSONAL SERVICES) • 7,361 SF
      1888 Baseline St, Cornelius, OR 97113-8208
      View Details

    Similar Nearby for Sale

    • $950,000
      40,075 SF

      Retail Parcel Drive-Thru Opportunity

      Highly visible corner location ideal for retail or service restaurant.
      S 20Th Ave, Cornelius, OR 97113
      View Details
    • Contact for pricing
      3,989 SF

      Baseline Street Retail Opportunity

      High-exposure Cornelius restaurant site, land included.
      2761 Baseline St, Cornelius, OR 97113
      View Details
    • $470,000

      High Exposure Retail Land Available

      Land for sale with high traffic exposure and permitted uses.
      Baseline St, Cornelius, OR 97113
      View Details
    • $32,500

      Cozy Manufactured Home in Cornelius

      Two-bedroom, two-bath manufactured home with open layout and landscaped yard.
      570 N 10Th Ave, Cornelius, OR 97113
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    • Contact for pricing

      Commercial Land Near Retail Area

      Land with high traffic, suitable for various commercial uses.
      2612 Baseline St, Cornelius, OR 97113
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    • Contact for pricing

      Cornelius Industrial Land Redevelopment Opportunity

      Industrial land with redevelopment potential in Cornelius, Oregon.
      85 N 26Th Ave, Cornelius, OR 97113
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    Similar Nearby for Lease

    • Contact for pricing
      179,000 SF

      Retail Space in Cornelius Center

      Retail suites available in Fred Meyer-anchored shopping center in Cornelius.
      2200 E Baseline St, Cornelius, OR 97113
      View Details
    • Contact for pricing
      179,000 SF

      Cornelius Retail Space Available

      Prime retail space in established center.
      2200 Baseline St, Cornelius, OR 97113
      View Details
    • Contact for pricing
      1 SF

      Commercial Pad Site For Lease

      1.86 AC commercial pad site anchored by Fred Meyer.
      N Davis St, Cornelius, OR 97113
      View Details
    • Contact for pricing
      83,058 SF

      Cornelius Warehouse Space Available

      Insulated warehouse with new LED lighting and employee breakroom.
      495 N Holladay St, Cornelius, OR 97113
      View Details
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    Cornelius, OR 97113-8631
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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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