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

    3609 Corbett Ave Portland, OR 97239-4328

    • Office Properties & Spaces
    • 3,000 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0719300
    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

    • Lylen T. Ferris, ND / Naturopathic Practitioner
    • Kelly Donohue Nd / General Practitioner / Doctor

    Property Details for 3609 Corbett Ave

    Year built
    1970
    Lot size
    0.07 lot acres
    Property size
    3,000 SF
    Zone code
    CS
    Property type
    Office Properties & Spaces
    APN
    1S1E10CA 10000
    APU
    1S1E10CA10000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $582,000
      Market price range: $562k - $1.14M
      AI Estimate
      $582,000
      Market price range: $562k - $1.14M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $820,000
      Current use
      AUTO REPAIR, GARAGE
      $915,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $905,000
      Change: +10% Conversion: Easy
      RETAIL STORES
      $900,000
      Change: +10% Conversion: Easy
      OFFICE BUILDING
      $865,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.676
    Latitude
    45.497
    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
    $8,340
    $0.00
    $0.00
    $315,040
    -
    $300,000
    $297,350
    $597,350

    Comparable in this City

    • Value Estimation
      $4,100,000
      21,856 SF

      5901 Macadam Ave

      OFFICE (GENERAL) • 21,856 SF
      5901 Macadam Ave, Portland, OR 97239-3622
      View Details
    • Value Estimation
      $5,545,000
      17,657 SF

      4949 Macadam Ave

      OFFICE (GENERAL) • 17,657 SF
      4949 Macadam Ave, Portland, OR 97239-3912
      View Details
    • Value Estimation
      $3,115,000
      12,296 SF

      3712 Bond Ave

      CONDOMINIUM OFFICES • 12,296 SF
      3712 Bond Ave, Portland, OR 97239-4550
      View Details
    • Value Estimation
      $3,000,000
      13,355 SF

      4412 Corbett Ave

      OFFICE (GENERAL) • 13,355 SF
      4412 Corbett Ave, Portland, OR 97239-4207
      View Details
    • Value Estimation by Request
      10,120 SF

      6501 Macadam Ave

      Individual retail properties • 10,120 SF
      6501 Macadam Ave, Portland, OR 97239
      View Details
    • Value Estimation
      $1,065,000
      5,684 SF

      4438 Corbett Ave, Unit 4444

      OFFICE (GENERAL) • 5,684 SF
      4438 Corbett Ave, Portland, OR 97239-4207
      View Details

    Similar Nearby for Sale

    • $2,600,000
      15,720 SF

      Portland Office Building Investment

      Multi-tenant office building, 100% occupied.
      4504 Corbett Ave, 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
    • Contact for pricing

      South Portland Office Building Opportunity

      6,816 SF office building with parking near downtown Portland.
      Portland, OR 97239
      View Details
    • $1,750,000
      6,816 SF

      Office Space with Parking Lot

      Office space with parking lot in prime Portland location.
      224 SW Hamilton St, Portland, OR 97239
      View Details
    • $925,000
      1,735 SF

      High-End Office Space For Sale

      Office space with custom finishes, kitchenette, and roll-up door.
      5615 SW Hood Ave, 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

    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
    • $2,600 /Mo

      Well-Located Office Space Available

      Full-service office space near I-5 and downtown Portland.
      3518 S Corbett Ave, Portland, OR 97239
      View Details
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    3609 Corbett Ave
    Portland, OR 97239-4328
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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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