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    5937 Mason St Portland, OR 97218
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    Property profile & analytics

    5937 Mason St Portland, OR 97218

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    • Commercial real estate
    Off-Market
    Property ID
    US71-0150246
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 5937 Mason St

    Property type
    Commercial real estate
    APN
    R139101 & R139103

    Description

    This exceptional development opportunity encompasses two parcels totaling nearly an acre of land in Portland's desirable Cully neighborhood. The property, located at 5937 and 5947 NE Mason Street, presents a unique chance to create a thriving residential community. Parcel 5937 NE Mason Street, spanning 21,094 square feet, is zoned RM1, while the adjacent 5947 NE Mason Street, encompassing 20,677 square feet, is zoned R7. These zoning designations offer considerable flexibility for various residential projects, including apartments, townhomes, or a cluster of cottages. The property's location is further enhanced by its proximity to the upcoming Mason/Skidmore Neighborhood Greenway Project, scheduled for completion in late summer 2024. This project will transform Mason Street into a low-traffic, pedestrian and bicycle-friendly roadway, increasing the desirability and value of the property. A conditions survey and tree survey were completed in 2021 and are available upon request. The existing structures on the property are considered to have no value. Potential buyers are strongly encouraged to conduct their own due diligence. The asking price for this remarkable development opportunity is $1,100,000. The Assessor's Parcel Numbers (APN) are R139101 & R139103. Ownership is held by 6005 MASON LLC.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6014074
    Latitude
    45.5526985

    Comparable in this City

    • $299,900

      New Construction Cottage in Cully

      New 2-bedroom, 2.1-bathroom cottage with high-end finishes and private yard.
      6020 NE Mason St, Portland, OR 97218
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    • New
      $5,173,900
      12,080 SF

      Portland Multifamily Community: Stand-Alone Homes

      Thirteen stand-alone homes in Northeast Portland near Wilshire Park.
      4328 NE Going St, Portland, OR 97218
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    • New
      $1,400,000
      0.68 Acres

      Multifamily Investment in Cully Neighborhood

      Seven-unit multifamily property in Portland's desirable Cully neighborhood.
      4811/4823 NE Prescott St, Portland, OR 97218
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    • $474,900
      Pending

      Portland Fourplex on Large Lot

      Fourplex on 1/3 acre lot with development potential.
      6221 NE Simpson St, Portland, OR 97218
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      Corner Lot on Columbia Blvd

      1.31 acre corner lot with frontage on Columbia Blvd.
      6551 NE 47Th Ave, Portland, OR 97218
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    • New
      $229,500
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      Roseway Neighborhood Land Opportunity

      5000 sqft lot with development potential in Portland's Roseway.
      4440 NE 78Th Ave, Portland, OR 97218
      View Details

    Similar Nearby for Sale

    • $299,900

      New Construction Cottage in Cully

      New 2-bedroom, 2.1-bathroom cottage with high-end finishes and private yard.
      6020 NE Mason St, Portland, OR 97218
      View Details
    • New
      $5,173,900
      12,080 SF

      Portland Multifamily Community: Stand-Alone Homes

      Thirteen stand-alone homes in Northeast Portland near Wilshire Park.
      4328 NE Going St, Portland, OR 97218
      View Details
    • New
      $1,400,000
      0.68 Acres

      Multifamily Investment in Cully Neighborhood

      Seven-unit multifamily property in Portland's desirable Cully neighborhood.
      4811/4823 NE Prescott St, Portland, OR 97218
      View Details
    • $474,900
      Pending

      Portland Fourplex on Large Lot

      Fourplex on 1/3 acre lot with development potential.
      6221 NE Simpson St, Portland, OR 97218
      View Details
    • Contact for pricing

      Corner Lot on Columbia Blvd

      1.31 acre corner lot with frontage on Columbia Blvd.
      6551 NE 47Th Ave, Portland, OR 97218
      View Details
    • $339,900

      Commercial Land Development Opportunity

      CM2 zoned land suitable for retail and residential development.
      4120 NE Cully Blvd, Portland, OR 97218
      View Details

    Similar Nearby for Lease

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      Industrial Outdoor Storage Near Airport

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      Industrial Land for Lease

      Large, secure 13.41-acre industrial land near Portland Airport.
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      Industrial Outdoor Storage Near Airport

      13.41 AC industrial land for lease near Portland Airport.
      7800 NE Lombard St, Portland, OR 97218
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      Columbia Corridor Clear Span Warehouse

      Warehouse space available in the Columbia Corridor.
      6510 NE Columbia Blvd, Portland, OR 97218
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      Commercial Space for Lease

      Commercial space available for lease in Portland, Oregon.
      7737 NE Lombard St, Portland, OR 97218
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      2,576 SF

      Portland Flex Space Near Airport

      Flex space available near PDX Airport and major freeways.
      6600 NE 78Th Ct, Portland, OR 97218
      View Details
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    Portland, OR 97218
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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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