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

    419 23rd Ave, Unit 425 Portland, OR 97210-3470

    • Medical offices
    • 3,944 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $1,440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0793707
    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

    • Han V. Ho, LMT / Massage Therapist
    • Thomas Pollard / Dentist
    • Amy McClintick Massage Therapy / Massage Therapist

    Property Details for 419 23rd Ave

    Year built
    1963
    Lot size
    0.28 lot acres
    Property size
    3,944 SF
    Zone code
    CS
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    1N1E33CB 04700
    APU
    1N1E33CB04700

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,440,000
      Market price range: $565k - $1.65M
      AI Estimate
      $1,440,000
      Market price range: $565k - $1.65M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,190,000
      Current use
      COMMERCIAL (GENERAL)
      $1,310,000
      Change: +10% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,205,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $1,185,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,140,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.699
    Latitude
    45.5258
    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
    $18,766
    $0.00
    $0.00
    $708,850
    -
    $1,612,030
    $1,190,980
    $2,803,010

    Comparable in this City

    • Value Estimation by Request
      326,547 SF

      1015 22nd Ave

      MEDICAL BUILDING • 326,547 SF
      1015 22nd Ave, Portland, OR 97210-3025
      View Details
    • Value Estimation
      $7,440,000
      20,169 SF

      2250 Flanders St

      MEDICAL BUILDING • 20,169 SF
      2250 Flanders St, Portland, OR 97210-3443
      View Details
    • Value Estimation
      $915,000
      3,028 SF

      2348 Lovejoy St

      MEDICAL BUILDING • 3,028 SF
      2348 Lovejoy St, Portland, OR 97210-3022
      View Details
    • Value Estimation
      $2,620,000
      8,800 SF

      933 25th Ave

      MEDICAL BUILDING • 8,800 SF
      933 25th Ave, Portland, OR 97210-2829
      View Details
    • Value Estimation
      $675,000
      1,822 SF

      2326 Lovejoy St

      MEDICAL BUILDING • 1,822 SF
      2326 Lovejoy St, Portland, OR 97210-3022
      View Details
    • Value Estimation
      $5,105,000
      14,438 SF

      2311 Northrup St, Unit 2327

      MEDICAL BUILDING • 14,438 SF
      2311 Northrup St, Portland, OR 97210-2994
      View Details

    Similar Nearby for Sale

    • $4,510,000
      13,426 SF

      Retail and Fitness Space Available

      Retail and fitness spaces available for sale in Portland, OR.
      1431 SE 23Rd Ave, Portland, OR 97210
      View Details
    • Contact for pricing

      NW Portland Industrial Flex Building

      Industrial flex building in NW Portland with office and yard.
      2615 NW St Helens Rd, Portland, OR 97210
      View Details
    • Contact for pricing

      Creative Office Space with Skylights

      Creative office space with high ceilings and excellent transit options.
      1621 NE 2Nd Ave, Portland, OR 97210
      View Details
    • Contact for pricing

      NW Portland Office Warehouse Building

      Located in NW Portland, close to restaurants and retail.
      2480 NW Vaughn St, Portland, OR 97210
      View Details
    • $1,400,000
      7,731 SF

      Retail Property in Portland, Oregon

      Retail property available for sale in Portland, Oregon.
      2120 NW Overton St, Portland, OR 97210
      View Details
    • Contact for pricing
      41,681 SF

      Guilds Lake Industrial Property

      Industrial property near Fremont Bridge on/off-ramps in Guilds Lake.
      2355 NW Vaughn St, Portland, OR 97210
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,904 SF

      Upshur Office: Prime Multnomah Space

      2,904 sq ft Office, Single Tenant, Available October 1st
      2892 Upshur St, Portland, OR 97210
      View Details
    • Contact for pricing
      27,990 SF

      Raleigh Slabtown Creative Office Space

      Portland's vibrant Slabtown: prime office suites available.
      0 Raleigh St, Portland, OR 97210
      View Details
    • Contact for pricing

      Second-Floor Office Space Available

      High-traffic location with signage opportunities in West Portland.
      Portland, OR 97210
      View Details
    • $19 SF/Yr
      9,763 SF

      Office Space Backing Up to Park

      Office suite with open space, private offices, and park access.
      3077 NW Street Helens Rd, Portland, OR 97210
      View Details
    • $24 SF/Yr
      926 SF

      Freestanding Office Building For Rent

      Freestanding office building with private bathroom and kitchenette available for rent.
      2386 NW Hoyt St, Portland, OR 97210
      View Details
    • Contact for pricing

      Guild's Lake Flex Space Available

      6200 SF flex space in Guild's Lake Industrial District.
      3150 NW 31St Ave, Portland, OR 97210
      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.
    419 23rd Ave, Unit 425
    Portland, OR 97210-3470
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.