3417 22nd Ave Portland, OR 97202-2914
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$370k
Range $333k – $407k (±10%)
Property ID
US71-0914474
Property summary
AI-generated overview
This exceptional investment opportunity presents two adjacent industrial buildings totaling 6,342 square feet, situated on a 10,320 square foot lot in Portland, Oregon's desirable Close-in Eastside. Built in 1989 and zoned IG1, these properties offer significant potential for various industrial uses. Each building features 13-14 foot ceilings and two dock-high doors, providing ample space and efficient loading capabilities. The property includes six parking spaces. The buildings are available for purchase individually—3417 SE 22nd Avenue for $865,000 and 3427 SE 22nd Avenue for $835,000—or as a combined portfolio for $1,700,000. The seller is open to considering cash or terms. This is a rare opportunity to acquire a well-located, versatile industrial property in a thriving market. The address is 3417 & 3427 SE 22nd Avenue, Portland, OR 97202. This property is comprised of two units.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1989
Construction
CONCRETE BLOCKS
Total area
3,150 SF
Lot
0.12 ac (5,100 SF)
Zoning code
IG1
APN
1S1E11AD 18500
UPID
US71-0914474
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$932k
Blend (final)
Blend
$370k
Owner & transaction history
since 2001
1 recorded transaction
Zoning & alternative use
IG1 · Portland, OR
Zoning description
The General Industrial zones are two of the three zones that implement the Industrial Sanctuary map designation of the Comprehensive Plan. The zones provide areas where most industrial uses may locate, while other uses a…
General category
INDUSTRIAL
Top alternative use upside
Retail stores
$1.1M
+9.3%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$370k
Value range
$333k – $407k
±10% around blend
Estimated value / SF
$117 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
40
$333k
blend $370k
$407k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,150 SF
Lot area
0.12 ac
Year built
1989
Stories
1
APN
1S1E11AD 18500
Assessed value
$239,320
Annual tax
$6,342
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.31M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.1 mi away · 3,600 SF
12.6 mi away · 2,664 SF
16.9 mi away · 2,560 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$370k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 116 sales
$305
-62%
County 124 sales
$296
-60%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $117/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+9%
vs current-use indication
Auto Repair, Garage · current use
Medical Building
Commercial (general)
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$239k
Move the market yield to see immediate price impact.
Value / SF
$76
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$15k
$302k
$215k
$168k
$17k
$335k
$239k
$186k
$18k
$369k
$263k
$205k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$1.30M
0.5 mi · Dec 2025 · $520/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,342
Tax year 2023
Assessed value
$239,320
Assessed 2023
Previous assessed
$232,350
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$373,570
Improvement market value
$474,570
Total market value
$848,140
Applied tax rate
201.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1989
Construction
CONCRETE BLOCKS
Heating
GRAVITY
Stories
1
Bathrooms
1
Total area
3,150 SF
Lot
0.12 ac (5,100 SF)
Zoning code
IG1
APN
1S1E11AD 18500
UPID
US71-0914474
Jurisdiction
MULTNOMAH
Zoning & alternative use
IG1 · Portland, ORZoning IG1 · permitted uses
IG1 · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The General Industrial zones are two of the three zones that implement the Industrial Sanctuary map designation of the Comprehensive Plan. The zones provide areas where most industrial uses may locate, while other uses a…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
CONCRETE BLOCKS
Heating
GRAVITY
Stories
1
Bathrooms
1
Lot
0.12 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
IG1
INDUSTRIAL
Jurisdiction
Portland, OR
Recorded code
IG1
Official district
IG1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IG1 in Portland, OR.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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