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

    357 1st Ave, Unit 9 Hillsboro, OR 97124-3058

    • Apartment buildings
    • 39,710 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $8,855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0109485
    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

    • Apartment buildings

    Property Details for 357 1st Ave

    Year built
    1980
    Lot size
    0.86 lot acres
    Property size
    39,710 SF
    Zone code
    SCR-MD
    Property type
    Apartment buildings
    APN
    1N231CB-05000
    APU
    1N231CB05000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,852,000
      Market price range: $7.06M - $17.9M
      AI Estimate
      $8,852,000
      Market price range: $7.06M - $17.9M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $8,855,000
      Current use
      MEDICAL BUILDING
      $12,660,000
      Change: +43% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $12,620,000
      Change: +43% Conversion: Moderate
      RESTAURANT
      $12,020,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $9,480,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $7,095,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Washington
    State
    Oregon
    Longitude
    -122.99
    Latitude
    45.526
    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
    -
    $1,200,000
    $5,335,880
    $6,535,880

    Comparable in this City

    • Value Estimation by Request
      9.56 Acres

      1492 Alex Way, Unit 324

      APARTMENT HOUSE (100+ UNITS) • 9.56 Acres
      1492 Alex Way, Hillsboro, OR 97124-8601
      View Details
    • Value Estimation by Request
      15.41 Acres

      6198 Cornell Rd

      APARTMENT HOUSE (100+ UNITS) • 15.41 Acres
      6198 Cornell Rd, Hillsboro, OR 97124-4488
      View Details
    • Value Estimation by Request
      1.40 Acres

      758 20th Pl, Unit D

      APARTMENT HOUSE (5+ UNITS) • 1.40 Acres
      758 20th Pl, Hillsboro, OR 97124-3588
      View Details
    • Value Estimation by Request
      0.40 Acres

      232 3rd Ave

      APARTMENT HOUSE (5+ UNITS) • 0.40 Acres
      232 3rd Ave, Hillsboro, OR 97124-3170
      View Details
    • Value Estimation
      $2,185,000
      12,296 SF

      146 43rd Ave

      APARTMENT HOUSE (5+ UNITS) • 12,296 SF
      146 43rd Ave, Hillsboro, OR 97124-6880
      View Details
    • Value Estimation by Request
      316,786 SF

      6595 Cherry Dr

      APARTMENT HOUSE (100+ UNITS) • 316,786 SF
      6595 Cherry Dr, Hillsboro, OR 97124-7739
      View Details

    Similar Nearby for Sale

    • New
      $540,000
      1,530 SF

      Hillsboro Duplex with Large Yards

      One-level duplex in Hillsboro with large yards and RV parking.
      662/664 NW Connell Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing

      Land Available in Hillsboro, Oregon

      Land for sale at 26975 NW Meek Rd, Hillsboro, OR.
      26975 NW Meek Rd, Hillsboro, OR 97124
      View Details
    • $3,855,060

      Land Available in Hillsboro, Oregon

      Land for sale at 7330 NE Imbrie Dr, Hillsboro, OR.
      7330 NE Imbrie Dr, Hillsboro, OR 97124
      View Details
    • $225,000

      Private Lot Bordered by Creek

      Secluded land near Intel, fairgrounds, and local schools.
      335 NE Hillwood Dr, Hillsboro, OR 97124
      View Details
    • Contact for pricing

      Hillsboro Industrial Development Opportunity

      New construction industrial development in Hillsboro, Oregon, for lease or sale.
      1205 Northeast Evergreen Rd, Hillsboro, OR 97124
      View Details
    • $2,075,000

      Hillsboro 50-Acre Versatile Property

      Rare 50-acre property with homes, barns, and irrigation rights.
      33140 NW Hornecker Rd, Hillsboro, OR 97124
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Hillsboro Warehouse and Office Spaces

      Functional warehouse and office spaces with flexible, short-term leases.
      1960 NE 25Th Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      1,525 SF

      Hillsboro Flex Space For Rent

      Flex space available in Sunset Corridor location near MAX station.
      5285 NE Elam Young Pkwy, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      5,496 SF

      Premier Open-Air Retail Center Space

      Retail space available in a premier open-air shopping center.
      2265 NE Allie Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      18,249 SF

      Hillsboro Industrial Space For Lease

      18,249 SF industrial space with office near Intel.
      2925 NE Aloclek Dr, Hillsboro, OR 97124
      View Details
    • $20 SF/Yr
      1,887 SF

      Hillsboro Office Space Available

      Office space for rent in Hillsboro, Oregon.
      3485 NE John Olsen Ave, Hillsboro, OR 97124
      View Details
    • $19 SF/Yr

      Hillsboro Office Space Available

      Office space for rent in Hillsboro, Oregon.
      3310 Northeast Aloclek Dr, Hillsboro, OR 97124
      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.
    357 1st Ave, Unit 9
    Hillsboro, OR 97124-3058
    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!