Sign Up Successful!
You now have access to more from Realmo!
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

    3515 Us Veterans Hospital Rd Portland, OR 97239-2966

    • Medical offices
    • 15,684 SF
    • 18.20 lot acres
    OFF-MARKET
    Value Estimations
    $4,735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0403478
    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

    • Cp Medical / Veterinary Clinic

    Property Details for 3515 Us Veterans Hospital Rd

    Year built
    1962
    Lot size
    18.20 lot acres
    Property size
    15,684 SF
    Zone code
    R1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1S1E09 00200A1
    APU
    1S1E0900200A1

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,737,000
      Market price range: $2.25M - $6.57M
      AI Estimate
      $4,737,000
      Market price range: $2.25M - $6.57M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,735,000
      Current use
      RESTAURANT
      $5,370,000
      Change: +13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,790,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $4,710,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $4,535,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $4,300,000
      Change: -9% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $4,170,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.686
    Latitude
    45.4988
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $3,629,320
    $3,629,320

    Comparable in this City

    • Value Estimation by Request
      1.94 Acres

      545 Campus Dr

      MEDICAL BUILDING • 1.94 Acres
      545 Campus Dr, Portland, OR 97239-3130
      View Details
    • Value Estimation by Request
      1.01 Acres

      749 Whitaker St

      MEDICAL BUILDING • 1.01 Acres
      749 Whitaker St, Portland, OR 97239
      View Details
    • Value Estimation by Request
      0.09 Acres

      3171 Wi Sw Sam Jackson Park Rd

      MEDICAL BUILDING • 0.09 Acres
      3171 Wi Sw Sam Jackson Park Rd, Portland, OR 97239
      View Details
    • Value Estimation by Request
      2.09 Acres

      3219 Sam Jackson Park Rd

      MEDICAL BUILDING • 2.09 Acres
      3219 Sam Jackson Park Rd, Portland, OR 97239-3115
      View Details
    • Value Estimation by Request
      0.23 Acres

      3147 Wi Sw Sam Jackson Park Rd

      MEDICAL BUILDING • 0.23 Acres
      3147 Wi Sw Sam Jackson Park Rd, Portland, OR 97239
      View Details
    • Value Estimation by Request
      0.03 Acres

      3147 Wi Sw Sam Jackson Park Rd

      MEDICAL BUILDING • 0.03 Acres
      3147 Wi Sw Sam Jackson Park Rd, Portland, OR 97239
      View Details

    Similar Nearby for Sale

    • $1,500,000
      3,186 SF

      South Waterfront Mixed-Use Building

      Versatile mixed-use building in South Waterfront near OHSU.
      3906 S Kelly St, Portland, OR 97239
      View Details
    • Contact for pricing
      54,616 SF

      Portland Office Building For Sale

      Office building with ample parking, near Portland CBD.
      4550-4630 SW Macadam Ave, Portland, OR 97239
      View Details
    • $3,680,000
      22,222 SF

      Remodeled Office Building in Lair Hill

      Four-story office building with abundant natural light and outdoor terrace.
      3207 SW 1St Ave, Portland, OR 97239
      View Details
    • $1,950,000
      8,990 SF

      Portland Flex Space For Sale

      8,990 SF flex space in Portland's Johns Landing neighborhood.
      Portland, OR 97239
      View Details
    • $2,370,000
      6,681 SF

      Portland Office Building - $2.37M

      Vacant 6,681 SF Office, High Visibility
      4747 Kelly Ave, Portland, OR 97239
      View Details
    • $2,600,000
      15,720 SF

      Portland Office Building Investment

      Multi-tenant office building, 100% occupied.
      4504 Corbett Ave, Portland, OR 97239
      View Details

    Similar Nearby for Lease

    • $1,695,000
      1,325 SF

      Modern Office Space Available

      Prime location with modern amenities and high-speed internet.
      6605 SW Macadam Ave, Portland, OR 97239
      View Details
    • Contact for pricing

      Johns Landing Office Space Available

      Office space for lease in desirable Johns Landing location.
      4730 SW Macadam Ave, Portland, OR 97239
      View Details
    • $19 SF/Yr
      1,737 SF

      Office Space Available For Rent

      Office space available for lease in Portland, Oregon.
      6420 SW Macadam Ave, Portland, OR 97239
      View Details
    • $2,500,000
      1,370 SF

      South Waterfront Office/Service Space

      Office/service space in south waterfront with floor-to-ceiling glass.
      3630 S River Pkwy, Portland, OR 97239
      View Details
    • Contact for pricing
      4,572 SF

      Office Space with Private Entry

      Ground floor office space in John’s Landing, available for rent.
      5711 S Hood Ave, Portland, OR 97239
      View Details
    • $35 SF/Yr
      3,066 SF

      Renovated Office Space with Atrium

      Recently updated office space with high-end finishes and amenities.
      5550 SW Macadam Ave, Portland, OR 97239
      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.
    3515 Us Veterans Hospital Rd
    Portland, OR 97239-2966
    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.