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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3500 Hawthorne Blvd, Unit 3518 Portland, OR 97214-5142

    • Retail space
    • 7,081 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $3,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0707120
    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

    • Hello India / Restaurant

    Property Details for 3500 Hawthorne Blvd

    Year built
    1923
    Lot size
    0.17 lot acres
    Property size
    7,081 SF
    Zone code
    CS
    Property type
    Retail space
    APN
    1S1E01DB 12200
    APU
    1S1E01DB12200

    Description

    This exceptional 3,140 square foot restaurant space is located on a prime corner lot at 3500 SE Hawthorne Blvd in Portland, Oregon, within Multnomah County (zip code 97214). The property is part of a larger retail building totaling 7,081 square feet, offering a strong presence on a busy thoroughfare. This is a second-generation restaurant space, meaning it's ready for immediate occupancy by a new tenant, having previously housed a restaurant operation. The space is ideal for a variety of culinary concepts, benefiting from existing restaurant infrastructure. The location provides excellent visibility and accessibility for customers, with high foot traffic and convenient access to public transportation. The property's corner location offers significant advantages in terms of signage and street presence. This is a rare opportunity to acquire a well-situated restaurant space in a vibrant and desirable Portland neighborhood. The property is classified as retail, with a restaurant subtype and multiple tenancy. The space is ready for immediate use, presenting a turnkey solution for a new restaurant venture. This is a fantastic opportunity to establish a thriving business in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,001,000
      Market price range: $1.08M - $3.17M
      AI Estimate
      $3,001,000
      Market price range: $1.08M - $3.17M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,280,000
      Current use
      RESTAURANT
      $2,425,000
      Change: +6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,160,000
      Change: -5% Conversion: Difficult
      MEDICAL BUILDING
      $2,140,000
      Change: -6% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,095,000
      Change: -8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,055,000
      Change: -10% Conversion: Easy
      OFFICE BUILDING
      $2,045,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.628
    Latitude
    45.5119
    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
    $19,277
    $0.00
    $0.00
    $727,480
    -
    $611,310
    $3,714,300
    $4,325,610

    Comparable in this City

    • Value Estimation
      $1,885,000
      6,000 SF

      1103 7th Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      1103 7th Ave, Portland, OR 97214-2468
      View Details
    • Value Estimation
      $1,040,000
      2,400 SF

      2955 Belmont St

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2955 Belmont St, Portland, OR 97214-4012
      View Details
    • Value Estimation
      $995,000
      4,422 SF

      2701 Belmont St, Unit 2707

      RETAIL STORES (PERSONAL SERVICES) • 4,422 SF
      2701 Belmont St, Portland, OR 97214-2917
      View Details
    • Value Estimation
      $3,970,000
      8,856 SF

      2448 Burnside St

      RETAIL STORES (PERSONAL SERVICES) • 8,856 SF
      2448 Burnside St, Portland, OR 97214-1752
      View Details
    • Value Estimation
      $1,935,000
      5,093 SF

      2244 Burnside St

      RETAIL STORES (PERSONAL SERVICES) • 5,093 SF
      2244 Burnside St, Portland, OR 97214-1654
      View Details
    • Value Estimation
      $1,295,000
      4,950 SF

      2136 Burnside St

      RETAIL STORES (PERSONAL SERVICES) • 4,950 SF
      2136 Burnside St, Portland, OR 97214-1652
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $24 SF/Yr
      5,000 SF

      Prime Retail Opportunity on Hawthorne

      Two retail suites available in a vibrant Portland location.
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      Five-story building with retail and creative office spaces available.
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      View Details
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      Retail/Warehouse Building with Parking

      Freestanding retail/warehouse building with parking in Portland, Oregon.
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      Retail Space in Mixed-Use Building

      Ground floor retail space in a mixed-use building available now.
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      Retail/Office Building with Open Layout

      Stand-alone building suitable for retail or office use.
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      Retail Space in Downtown Portland

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      View Details
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    3500 Hawthorne Blvd, Unit 3518
    Portland, OR 97214-5142
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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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