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

    509 Alberta St Portland, OR 97211-3976

    • Assisted living facilities
    • 8,480 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $1,670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1811115
    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

    • Lance Thomas / Home Health Care Service
    • Kevin Grimes / Home Health Care Service
    • Ranny Petkovits / Home Health Care Service
    • David Volker / Home Health Care Service
    • La Treca Phillips / Home Health Care Service

    Property Details for 509 Alberta St

    Year built
    1994
    Lot size
    0.17 lot acres
    Property size
    8,480 SF
    Zone code
    CGH
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1N1E23BB 21000
    APU
    1N1E23BB21000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,672,000
      Market price range: $1.17M - $2.22M
      AI Estimate
      $1,672,000
      Market price range: $1.17M - $2.22M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,670,000
      Current use
      AUTO REPAIR, GARAGE
      $2,590,000
      Change: +55% Conversion: Difficult
      MEDICAL BUILDING
      $2,560,000
      Change: +53% Conversion: Difficult
      RETAIL STORES
      $2,545,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $2,450,000
      Change: +47% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,440,000
      Change: +46% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.66
    Latitude
    45.5593
    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
    -
    $423,700
    $3,104,590
    $3,528,290

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      315-319 Wi Ne Russet St

      HOMES (RETIRED, NURSING) • 0.11 Acres
      315-319 Wi Ne Russet St, Portland, OR 97211
      View Details
    • Value Estimation
      $13,745,000
      69,701 SF

      420 Mason St

      HOMES (RETIRED, NURSING) • 69,701 SF
      420 Mason St, Portland, OR 97211-3479
      View Details
    • Value Estimation
      $2,335,000
      8,927 SF

      315-319 Russet St

      HOMES (RETIRED, NURSING) • 8,927 SF
      315-319 Russet St, Portland, OR 97211
      View Details
    • Value Estimation by Request
      1,534 SF

      7045 Cleveland Ave

      HOMES (RETIRED, NURSING) • 1,534 SF
      7045 Cleveland Ave, Portland, OR 97211-2311
      View Details
    • Value Estimation by Request
      1,220 SF

      1755 Highland St

      HOMES (RETIRED, NURSING) • 1,220 SF
      1755 Highland St, Portland, OR 97211-4847
      View Details
    • Value Estimation by Request
      2,689 SF

      132 Jessup St

      HOMES (RETIRED, NURSING) • 2,689 SF
      132 Jessup St, Portland, OR 97211-2518
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Alberta Arts District Corner Lot

      CM2-zoned land in vibrant Alberta Arts District.
      2734-2738 NE Alberta St, Portland, OR 97211
      View Details
    • $1,810,000

      Alberta Arts District Development Land

      10,080 SF development land in vibrant Alberta Arts District.
      526 NE Alberta St, Portland, OR 97211
      View Details
    • $225,000
      0.11 Acres

      Prime Commercial Land in Portland

      Cleared CM2 land in Woodlawn/NE Portland near transit.
      7036 NE M L King Blvd, Portland, OR 97211
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    • Contact for pricing

      Versatile Corner Office Building

      Multi-tenant office building in Woodlawn neighborhood with CM2 zoning.
      Portland, OR 97211
      View Details
    • $1,495,000
      3,190 SF

      Turn-Key Bar/Restaurant with Outdoor Space

      Turn-key bar/restaurant with covered outdoor space in Alberta Arts.
      2700 NE Alberta St, Portland, OR 97211
      View Details
    • Contact for pricing

      Prime Industrial Land Near I-5

      Secured industrial land with immediate I-5 access and office trailer.
      8250 NE M L King Blvd, Portland, OR 97211
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space Available For Lease

      Commercial space available for lease in Portland, Oregon.
      3509 NE Columbia Blvd, Portland, OR 97211
      View Details
    • Contact for pricing
      1,334 SF

      Retail Space with Hood System

      Retail space featuring operable storefront windows and Type 2 hood.
      2924 NE Alberta St, Portland, OR 97211
      View Details
    • Contact for pricing

      Improved Yard Space in Portland

      1.68 acre improved yard space for lease in Portland.
      259 NE Gertz Rd, Portland, OR 97211
      View Details
    • $2 SF/Yr
      1,430 SF

      Retail Space in Portland, Oregon

      Retail space available for lease in Portland, Oregon.
      4602 NE Killingsworth St, Portland, OR 97211
      View Details
    • Contact for pricing
      24,967 SF

      Industrial Space in Central Location

      24,967 SF industrial space ideal for distribution uses.
      3002-3014 N Wygant St, Portland, OR 97211
      View Details
    • Contact for pricing
      19,000 SF

      Fenced Yard in Columbia Corridor

      Rare fenced and paved yard with office and fueling pad.
      8101 NE 11Th Ave, Portland, OR 97211
      View Details
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    509 Alberta St
    Portland, OR 97211-3976
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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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