Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    343 3rd Ave Hillsboro, OR 97123-4001
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    343 3rd Ave Hillsboro, OR 97123-4001

    View on Map
    • Office properties & Spaces
    • 11,822 SF
    • 0.83 lot acres
    Off-Market
    Property ID
    US71-0943767
    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
    $2,070,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 343 3rd Ave

    Year built
    1969
    Lot size
    0.83 lot acres
    Property size
    11,822 SF
    Zone code
    SCC-DT
    Property type
    Office properties & Spaces
    APN
    1S206BB-00101
    APU
    1S206BB00101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,067,000
      Market price range: $2.07M - $4.40M
      AI Estimate
      $2,067,000
      Market price range: $2.07M - $4.40M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,020,000
      Current use
      RETAIL STORES
      $2,820,000
      Change: -7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,635,000
      Change: -13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Washington
    State
    Oregon
    Longitude
    -122.987
    Latitude
    45.5197
    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
    $14,553
    $0.00
    $0.00
    $863,830
    -
    $527,750
    $525,130
    $1,052,880

    Comparable in this City

    • Value Estimation by Request
      15.69 Acres

      955 Armco Ave

      OFFICE (GENERAL) • 15.69 Acres
      955 Armco Ave, Hillsboro, OR 97123-5692
      View Details
    • Value Estimation
      $1,100,000
      3,910 SF

      137 2nd Ave

      OFFICE (GENERAL) • 3,910 SF
      137 2nd Ave, Hillsboro, OR 97123-4026
      View Details
    • Value Estimation
      $1,255,000
      3,376 SF

      3785 Minter Brg Rd

      OFFICE (GENERAL) • 3,376 SF
      3785 Minter Brg Rd, Hillsboro, OR 97123
      View Details
    • Value Estimation
      $535,000
      2,636 SF

      163 2nd Ave

      OFFICE (GENERAL) • 2,636 SF
      163 2nd Ave, Hillsboro, OR 97123-4026
      View Details
    • Value Estimation
      $585,000
      3,348 SF

      134 5th Ave

      OFFICE (GENERAL) • 3,348 SF
      134 5th Ave, Hillsboro, OR 97123-4095
      View Details
    • Value Estimation
      $860,000
      3,472 SF

      565 Oak St

      OFFICE (GENERAL) • 3,472 SF
      565 Oak St, Hillsboro, OR 97123
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,500 SF

      Beaverton Commercial Property For Sale

      Commercial property suitable for office, retail, and light assembly.
      19635 SW Tualatin Valley Hwy, Beaverton, OR 97123
      View Details
    • Contact for pricing
      3,340 SF

      Hillsboro Commercial Suite For Sale

      Single-level commercial suite in downtown Hillsboro near medical center.
      545 SE Oak St, Hillsboro, OR 97123
      View Details
    • Contact for pricing
      5,000 SF

      Medical Office on High-Traffic Corner

      High-visibility medical office building on a signalized corner.
      19755 SW Tualatin Valley Hwy, Beaverton, OR 97123
      View Details
    • Contact for pricing

      Hillsboro Medical Office Plaza

      Medical office building near OHSU Hillsboro Medical Center.
      862 SE Oak St, Hillsboro, OR 97123
      View Details
    • $593,000

      Downtown Hillsboro Office Building

      Office building in Downtown Hillsboro with flexible layout.
      163 SE 2Nd Ave, Hillsboro, OR 97123
      View Details
    • $755,000

      Hillsboro Commercial Property with Upside

      3,710 SF commercial property in Downtown Hillsboro.
      155 SE 2Nd Ave, Hillsboro, OR 97123
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,005 SF

      Hillsboro Office Space For Rent

      Centrally located office space in Hillsboro with high traffic.
      900-980 SE Oak St, Hillsboro, OR 97123
      View Details
    • $4,200 /Mo

      Hillsboro Warehouse with Retail Options

      Downtown Hillsboro warehouse/industrial space with retail potential. Gated, fenced.
      197 SW Dennis Ave, Hillsboro, OR 97123
      View Details
    • Contact for pricing

      Hillsboro Flex, Warehouse, and Office

      Functional storage, warehouse, and office spaces with flexible, short-term leases.
      2900 SE Cornelius Pass Rd, Hillsboro, OR 97123
      View Details
    • Contact for pricing

      Downtown Hillsboro Office Space Available

      Office space for rent in Downtown Hillsboro, Oregon.
      400 E Main St, Hillsboro, OR 97123
      View Details
    • Contact for pricing
      6,300 SF

      Hillsboro Flex Space Near Intel

      Flex/industrial/office space near Intel Aloha Campus in Hillsboro, Oregon.
      5976 SE Alexander St, Hillsboro, OR 97123
      View Details
    • Contact for pricing

      Functional Office Space on TV Hwy

      Newly renovated office space with open layout and highway visibility.
      2820 SE 58Th Ct, Hillsboro, OR 97123
      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.
    343 3rd Ave
    Hillsboro, OR 97123-4001
    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!