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

    515 Salmon St Portland, OR 97204-1105

    • Parking lots & garages
    • 120,000 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $29,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0705167
    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

    • Amazon Hub Locker - Seamstress / Postal Service / Courier Service
    • Power & Light Garage (Propark) / Parking Lot & Garage

    Property Details for 515 Salmon St

    Year built
    1927
    Lot size
    0.46 lot acres
    Property size
    120,000 SF
    Zone code
    CXD
    Property type
    Parking lots & garages
    APN
    1S1E03BB 00900
    APU
    1S1E03BB00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $29,199,000
      Market price range: $29.2M - $40.0M
      AI Estimate
      $29,199,000
      Market price range: $29.2M - $40.0M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $36,375,000
      Current use
      RESTAURANT
      $41,095,000
      Change: +13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $36,640,000
      Change: +1% Conversion: Difficult
      MEDICAL BUILDING
      $36,245,000
      Change: -0% Conversion: Difficult
      RETAIL STORES
      $36,025,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $34,680,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $34,560,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.679
    Latitude
    45.5172
    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
    $194,833
    $0.00
    $0.00
    $7,359,500
    -
    $8,500,000
    $9,318,420
    $17,818,420

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      337 Wi Sw Alder St

      PARKING GARAGE, PARKING STRUCTURE • 0.46 Acres
      337 Wi Sw Alder St, Portland, OR 97204
      View Details
    • Value Estimation
      $16,790,000
      69,000 SF

      310-316 Pne St

      PARKING GARAGE, PARKING STRUCTURE • 69,000 SF
      310-316 Pne St, Portland, OR 97204
      View Details
    • Value Estimation by Request
      230,400 SF

      330 Yamhill St

      PARKING GARAGE, PARKING STRUCTURE • 230,400 SF
      330 Yamhill St, Portland, OR 97204-2423
      View Details
    • Value Estimation by Request
      400,000 SF

      607 3rd Ave

      PARKING GARAGE, PARKING STRUCTURE • 400,000 SF
      607 3rd Ave, Portland, OR 97204
      View Details
    • Value Estimation
      $48,665,000
      200,000 SF

      337 Alder St

      PARKING GARAGE, PARKING STRUCTURE • 200,000 SF
      337 Alder St, Portland, OR 97204-2505
      View Details
    • Value Estimation by Request
      0.92 Acres

      330 Wi Sw Yamhill St

      PARKING GARAGE, PARKING STRUCTURE • 0.92 Acres
      330 Wi Sw Yamhill St, Portland, OR 97204
      View Details

    Similar Nearby for Sale

    • $6,800,000
      28,898 SF

      Portland Mixed-Use Investment Opportunity

      Historic building, prime location, high potential.
      126 2Nd Ave, Portland, OR 97204
      View Details
    • Contact for pricing
      4,016 SF

      Rare Office Property with Parking

      Conveniently located office building with parking, patio, and courtyard.
      3223 SW Naito Pkwy, Portland, OR 97204
      View Details
    • $13,950,000
      83,032 SF

      Landmark Building with Sustainable Design

      Historic building with modern expansion and sustainable features.
      45 SW Ankeny St, Portland, OR 97204
      View Details
    • Contact for pricing

      Portland CBD Development Opportunity Zone

      High-density development site in Portland's Central Business District.
      SW Alder St, Portland, OR 97204
      View Details
    • Contact for pricing

      Creative Office Space For Lease

      Creative office space in revitalized downtown setting with dining and transit.
      310 SW 4Th St, Portland, OR 97204
      View Details
    • $13,950,000

      Historic Building in Old Town

      Landmark building blending history with modern sustainability in Portland.
      45 SW Ankeny St, Portland, OR 97204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,541 SF

      Downtown Portland Office Space Available

      Office space with stunning views and modern amenities for rent.
      121-127 SW Salmon St, Portland, OR 97204
      View Details
    • $20 SF/Yr
      12,666 SF

      Haseltine Building: Portland Retail Space

      Historic Portland retail space, multiple suites available.
      133 2Nd Ave, Portland, OR 97204
      View Details
    • Contact for pricing

      Retail Space Near Public Transit

      Retail space available near Streetcar and TriMet MAX lines.
      822 SW 10Th Ave, Portland, OR 97204
      View Details
    • Contact for pricing

      Downtown Portland Corner Retail Space

      Prime corner retail space in downtown Portland near Pioneer Place.
      832-838 SW 4Th Ave, Portland, OR 97204
      View Details
    • Contact for pricing
      4,500 SF

      Unique Retail Space with Mezzanine

      Retail space with mezzanine level below 26 apartments.
      418 SW 4Th Ave, Portland, OR 97204
      View Details
    • Contact for pricing
      5,818 SF

      Riverfront Retail or Restaurant Space

      Retail or restaurant space with riverfront views and outdoor patio.
      1550 Northwest Naito Pkwy, Portland, OR 97204
      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.
    515 Salmon St
    Portland, OR 97204-1105
    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!