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

    407 162nd Ave Portland, OR 97233-3809

    • Warehouses
    • 5,760 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $1,280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0458622
    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

    • Nectar / Cannabis Store
    • Nectar - 162nd & Stark / Market
    • Erick's Autotech / Auto Repair Shop

    Property Details for 407 162nd Ave

    Year built
    1977
    Lot size
    0.46 lot acres
    Property size
    5,760 SF
    Zone code
    MC
    Property type
    Warehouses
    APN
    1N2E36DD 01000
    APU
    1N2E36DD01000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,282,000
      Market price range: $781k - $1.78M
      AI Estimate
      $1,282,000
      Market price range: $781k - $1.78M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,175,000
      Current use
      RESTAURANT
      $1,975,000
      Change: +68% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,760,000
      Change: +50% Conversion: Easy
      MEDICAL BUILDING
      $1,740,000
      Change: +48% Conversion: Difficult
      OFFICE BUILDING
      $1,665,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,505,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $1,395,000
      Change: +19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.497
    Latitude
    45.5198
    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
    $6,492
    $0.00
    $0.00
    $372,440
    -
    $567,050
    $333,180
    $900,230

    Comparable in this City

    • Value Estimation
      $5,935,000
      29,125 SF

      802 Wi Se 199th Ave

      WAREHOUSE, STORAGE • 29,125 SF
      802 Wi Se 199th Ave, Portland, OR 97233
      View Details
    • Value Estimation by Request
      1.95 Acres

      2025 Wi Se 190th Ave

      WAREHOUSE, STORAGE • 1.95 Acres
      2025 Wi Se 190th Ave, Portland, OR 97233
      View Details
    • Value Estimation by Request
      2,954 SF

      19825 Stark St, Unit 10

      WAREHOUSE, STORAGE • 2,954 SF
      19825 Stark St, Portland, OR 97233-6039
      View Details
    • Value Estimation
      $7,255,000
      39,000 SF

      621 202nd Ave

      WAREHOUSE, STORAGE • 39,000 SF
      621 202nd Ave, Portland, OR 97233-6103
      View Details
    • Value Estimation by Request
      1,390 SF

      18206 Wi Se Stark St

      WAREHOUSE, STORAGE • 1,390 SF
      18206 Wi Se Stark St, Portland, OR 97233
      View Details
    • Value Estimation
      $1,375,000
      9,482 SF

      811 202nd Ave, Unit 823

      WAREHOUSE, STORAGE • 9,482 SF
      811 202nd Ave, Portland, OR 97233-6107
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Storefront with Connected Warehouse Space

      12,000 SF commercial property with flexible zoning on 1.07 acres.
      Portland, OR 97233
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    • Contact for pricing

      Updated Home in Prime Location

      Updated manufactured home with modern touches and convenient location.
      13045 SE Stark St, Portland, OR 97233
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    • Contact for pricing
      10,370 SF

      Updated Office Building Near Highway

      Office building with flexible layouts, updated amenities, and convenient location.
      8196 SW Hall Blvd, Portland, OR 97233
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    • $1,595,000

      Multi-Family Portfolio Opportunity

      Professionally managed, fully rented portfolio with seller carry terms.
      17941 SE Main St, Portland, OR 97233
      View Details
    • $449,900
      1,680 SF

      Gresham Duplex Near Rockwood Park

      Well-maintained duplex with strong income potential near transit and amenities.
      18427 SE Yamhill St, Gresham, OR 97233
      View Details
    • $499,900
      0.70 Acres

      Portland Land Development Opportunity

      0.7-acre vacant lot in Mill Park neighborhood.
      2056 SE 122Nd Ave, Portland, OR 97233
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      24,400 SF

      Industrial Space with Loading Dock

      Industrial space featuring a loading dock, parking, and signage.
      621 SE 202Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      1,435 SF

      Walk-Up Offices with Natural Light

      Professionally managed office space near Mall 205.
      1515 SE 122Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      15,038 SF

      Portland Retail Center - Division St

      High-traffic retail space, multiple units available.
      12250 Division St, Portland, OR 97233
      View Details
    • $21 SF/Yr
      2,453 SF

      Shell Condition Office Space

      Office space for rent with signage and parking available.
      13908 SE Stark St, Portland, OR 97233
      View Details
    • $22 SF/Yr
      1,050 SF

      Retail Space in Gresham Center

      Retail space available in community-focused Gresham shopping center.
      451 NE 181St Ave, Portland, OR 97233
      View Details
    • $18 SF/Yr
      650 SF

      Office Space For Rent

      650 square feet office space available for rent.
      12255 SW Main St, Portland, OR 97233
      View Details
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    407 162nd Ave
    Portland, OR 97233-3809
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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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