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    3145 18th Ct, Unit 3185 Gresham, OR 97030-4309

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    3145 18th Ct, Unit 3185 Gresham, OR 97030-4309

    View on Map
    • Apartment buildings
    • 4,940 SF
    • 0.38 lot acres
    Off-Market
    Last Sale Sep 10, 2021
    $940,000
    Property ID
    US71-0928881
    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
    $980,000
    Show details
    Cap Rate Potential
    6%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3145 18th Ct

    Year built
    1979
    Construction
    FRAME
    Lot size
    0.38 lot acres
    Property size
    4,940 SF
    Zone code
    MDR24
    Property type
    Apartment buildings
    APN
    1S3E02DB 00500
    APU
    1S3E02DB00500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,065,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,055,000
      6.5%
      $975,000
      7%
      $905,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,343,000
      Market price range: $767k - $1.94M
      AI Estimate
      $1,343,000
      Market price range: $767k - $1.94M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,300,000
      Current use
      MEDICAL BUILDING
      $1,490,000
      Change: +15% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,465,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $1,270,000
      Change: -2% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,225,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.4
    Latitude
    45.5105
    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
    $9,370
    $0.00
    $0.00
    $497,660
    -
    $200,500
    $794,430
    $994,930

    Comparable in this City

    • Value Estimation
      $17,905,000
      89,616 SF

      3123 29th St

      APARTMENT HOUSE (5+ UNITS) • 89,616 SF
      3123 29th St, Gresham, OR 97030-4307
      View Details
    • Value Estimation
      $6,315,000
      27,750 SF

      22744 Stark St

      APARTMENT HOUSE (5+ UNITS) • 27,750 SF
      22744 Stark St, Gresham, OR 97030-2652
      View Details
    • Value Estimation
      $9,465,000
      24,134 SF

      20711 Stark St

      APARTMENT HOUSE (5+ UNITS) • 24,134 SF
      20711 Stark St, Gresham, OR 97030-2477
      View Details
    • Value Estimation
      $27,400,000
      176,576 SF

      2711 Powell Blvd

      APARTMENT HOUSE (5+ UNITS) • 176,576 SF
      2711 Powell Blvd, Gresham, OR 97030-6542
      View Details
    • Value Estimation
      $5,535,000
      14,110 SF

      588 217th Ave

      APARTMENT HOUSE (5+ UNITS) • 14,110 SF
      588 217th Ave, Gresham, OR 97030-2481
      View Details
    • Value Estimation by Request
      1,684 SF

      1212 Wi Ne Linden Ave

      APARTMENT HOUSE (5+ UNITS) • 1,684 SF
      1212 Wi Ne Linden Ave, Gresham, OR 97030
      View Details

    Similar Nearby for Sale

    • $450,000
      0.17 Acres

      Gresham Duplex with Rental History

      Well-maintained duplex with long-term tenants and new roof.
      970 NW Wonderview Ct, Gresham, OR 97030
      View Details
    • New
      $799,999
      2,164 SF

      Remodeled Four-Unit Multifamily Property

      Fully remodeled four-unit property in the heart of Gresham.
      234 NE Cleveland Ave, Gresham, OR 97030
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    • New
      $815,000
      3,840 SF

      Gresham Multifamily Investment Opportunity

      Fully leased 4-unit property near downtown Gresham.
      1546 NE Cleveland Ave, Gresham, OR 97030
      View Details
    • Contact for pricing
      6,764 SF

      Commercial Land for Sale

      Commercial land with zoning allowing for wide range of uses.
      993 NE Kane Dr, Gresham, OR 97030
      View Details
    • Contact for pricing
      14,400 SF

      Gresham Industrial Flex Space Available

      Versatile industrial property with warehouse and office space for sale.
      21640 SE Stark St, Gresham, OR 97030
      View Details
    • $1,400,000
      9,200 SF

      Retail Building with Short-Term Leases

      Single-story retail building with investment or owner-user potential.
      20 NW 2 St, Gresham, OR 97030
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Turnkey Financial Center For Lease

      Fully built-out financial center in high-traffic area for lease.
      24150 SE Stark St, Gresham, OR 97030
      View Details
    • Contact for pricing

      Restaurant and Bar on Kane

      Free-standing restaurant and bar with high exposure.
      1125 NE Kane Dr, Gresham, OR 97030
      View Details
    • $20 SF/Yr

      Commercial Space on Hogan Drive

      Commercial space with high visibility and strong traffic.
      2830 Northeast Hogan Dr, Gresham, OR 97030
      View Details
    • Contact for pricing

      Flex Space with Secured Yard

      Flex space featuring shop, office, and secured fenced yard.
      840 NE Cleveland Ave, Gresham, OR 97030
      View Details
    • Contact for pricing

      Office Space for Sublease

      Office space available for sublease.
      1217 NE Burnside Rd, Gresham, OR 97030
      View Details
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    Gresham, OR 97030-4309
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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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    3145 18th Ct, Gresham, OR, 97030

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