Add Listing
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

    3417 22Nd Ave Portland, OR 97202

    • Auto shops
    • 3,150 SF
    • 0.12 lot acres
    For Sale
    View listing
    $1,700,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0914474
    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

    • Auto shops

    Property Details for 3417 22Nd Ave

    Year built
    1989
    Construction
    CONCRETE BLOCKS
    Lot size
    0.12 lot acres
    Property size
    3,150 SF
    Zone code
    IG1
    Property type
    Auto shops
    APN
    1S1E11AD 18500
    APU
    1S1E11AD18500

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $931,000
      Market price range: $541k - $1.56M
      AI Estimate
      $931,000
      Market price range: $541k - $1.56M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $960,000
      Current use
      RETAIL STORES
      $1,050,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $950,000
      Change: -1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $915,000
      Change: -5% Conversion: Moderate
      OFFICE BUILDING
      $910,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.644
    Latitude
    45.4978
    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
    $6,342
    $0.00
    $0.00
    $239,320
    -
    $373,570
    $474,570
    $848,140

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      1725 Wi Se Franklin St

      AUTO REPAIR, GARAGE • 0.20 Acres
      1725 Wi Se Franklin St, Portland, OR 97202
      View Details
    • Value Estimation
      $1,565,000
      4,732 SF

      2327 Powell Blvd

      AUTO REPAIR, GARAGE • 4,732 SF
      2327 Powell Blvd, Portland, OR 97202-2144
      View Details
    • Value Estimation
      $575,000
      1,161 SF

      2150 Powell Blvd

      AUTO REPAIR, GARAGE • 1,161 SF
      2150 Powell Blvd, Portland, OR 97202-2142
      View Details
    • Value Estimation
      $1,080,000
      5,000 SF

      3205 13th Ave

      AUTO REPAIR, GARAGE • 5,000 SF
      3205 13th Ave, Portland, OR 97202-2461
      View Details
    • Value Estimation
      $525,000
      2,500 SF

      2105 Division St

      AUTO REPAIR, GARAGE • 2,500 SF
      2105 Division St, Portland, OR 97202-1242
      View Details
    • Value Estimation
      $535,000
      2,460 SF

      4120 Gladstone St

      AUTO REPAIR, GARAGE • 2,460 SF
      4120 Gladstone St, Portland, OR 97202-3142
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,300 SF

      Retail Space on Powell Boulevard

      Retail property with warehouse and salon tenants, owner/operator opportunity.
      7330-7332 SE Powell Blvd, Portland, OR 97202
      View Details
    • $1,650,000
      4,365 SF

      Freestanding Retail Building For Sale

      Freestanding retail building in the heart of Westmoreland.
      6716 SE Milwaukie Ave, Portland, OR 97202
      View Details
    • Contact for pricing

      McLoughlin Boulevard Retail Warehouse

      Renovated retail and warehouse space with high-traffic visibility.
      Portland, OR 97202
      View Details
    • $1,950,000
      7,778 SF

      Landmark Business Opportunity in Portland

      Rare development opportunity with high visibility and excellent location.
      8325 SE Mcloughlin Blvd, Portland, OR 97202
      View Details
    • Contact for pricing

      Sellwood Retail Property on SE 13th

      Multi-tenant commercial property in the desirable Sellwood neighborhood.
      13th Ave At Lexington St, Portland, OR 97202
      View Details
    • $920,000
      7,013 SF

      Sellwood Retail Building For Sale

      Adaptable 7,000+ SF building in Portland's desirable Sellwood neighborhood.
      8203-8209 SE 13Th Ave, Portland, OR 97202
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      31,954 SF

      Retail Space on Powell Blvd

      Retail space with parking on major east/west thoroughfare.
      3031 SE Powell Blvd, Portland, OR 97202
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space in Sellwood Location

      Retail space for lease in the vibrant Sellwood neighborhood.
      8112 SE 13Th Ave, Portland, OR 97202
      View Details
    • Contact for pricing
      2,500 SF

      Retail Building with Parking Lot

      2,500 SF retail space with rare off-street parking.
      2105 SE Division St, Portland, OR 97202
      View Details
    • $30 SF/Yr
      1,600 SF

      Shell Condition Retail Sublease

      Sublease retail space with existing restaurant infrastructure.
      6543-6545 SE Milwaukie Ave, Portland, OR 97202
      View Details
    • Contact for pricing

      McLoughlin Frontage Retail/Industrial Opportunity

      High-traffic location suitable for retail or industrial businesses.
      Portland, OR 97202
      View Details
    • Contact for pricing

      Retail Space in Sellwood

      End-cap retail space in a high-traffic location.
      6212 SE Milwaukie Ave, 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.
    3417 22Nd Ave
    Portland, OR 97202
    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.
    Sign Up Successful!
    You now have access to more from Realmo!