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

    6203 97th Ave, Unit 6215 Portland, OR 97266-4525

    • Apartment buildings
    • 4,216 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $1,235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0855260
    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

    • Apartment buildings

    Property Details for 6203 97th Ave

    Year built
    1982
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    4,216 SF
    Zone code
    EXD
    Property type
    Apartment buildings
    APN
    1S2E16DC 01400
    APU
    1S2E16DC01400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,236,000
      Market price range: $670k - $1.67M
      AI Estimate
      $1,236,000
      Market price range: $670k - $1.67M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,120,000
      Current use
      MEDICAL BUILDING
      $1,275,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $1,265,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $1,220,000
      Change: +9% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,060,000
      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
    -122.564
    Latitude
    45.4782
    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
    $12,015
    $0.00
    $0.00
    $453,400
    -
    $287,500
    $567,390
    $854,890

    Comparable in this City

    • Value Estimation
      $6,440,000
      31,500 SF

      3035 92nd Ave, Unit 3101

      APARTMENT HOUSE (5+ UNITS) • 31,500 SF
      3035 92nd Ave, Portland, OR 97266-1431
      View Details
    • Value Estimation
      $1,385,000
      8,256 SF

      2631 111th Ave

      APARTMENT HOUSE (5+ UNITS) • 8,256 SF
      2631 111th Ave, Portland, OR 97266-1160
      View Details
    • Value Estimation
      $6,135,000
      23,082 SF

      2730 92nd Ave

      APARTMENT HOUSE (5+ UNITS) • 23,082 SF
      2730 92nd Ave, Portland, OR 97266-1459
      View Details
    • Value Estimation
      $9,585,000
      36,052 SF

      7901 92nd Ave, Unit 7929

      APARTMENT HOUSE (5+ UNITS) • 36,052 SF
      7901 92nd Ave, Portland, OR 97266-6234
      View Details
    • Value Estimation
      $4,085,000
      21,190 SF

      11111 Bush St, Unit 11151

      APARTMENT HOUSE (5+ UNITS) • 21,190 SF
      11111 Bush St, Portland, OR 97266-2207
      View Details
    • Value Estimation
      $1,730,000
      6,512 SF

      9305 Harold St, Unit 9329

      APARTMENT HOUSE (5+ UNITS) • 6,512 SF
      9305 Harold St, Portland, OR 97266-4649
      View Details

    Similar Nearby for Sale

    • $2,950,000
      10,603 SF

      Multifamily Property in Portland, Oregon

      Multifamily property built in 2021, near transit.
      9757 SE Holgate Blvd, Portland, OR 97266
      View Details
    • $1,100,000
      0.32 Acres

      Multifamily Property in Portland, Oregon

      Multifamily property with convenient location near I-205 and MAX.
      5628 SE 87Th Ave, Portland, OR 97266
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    • $5,995,000
      17,350 SF

      Multifamily Investment in Southeast Portland

      29-unit multifamily investment opportunity in a desirable Southeast Portland neighborhood.
      3320 SE 90Th Pl, Portland, OR 97266
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    • $698,000
      4,500 SF

      Mixed-Use Investment Opportunity, Portland

      Mixed-use property with development potential in Portland, Oregon.
      8325 SE Division St, Portland, OR 97266
      View Details
    • $5,983,900
      14,363 SF

      Completed Cottage Cluster in Portland

      16-unit detached home community in Portland's Powellhurst-Gilbert neighborhood.
      3246 SE 115Th Ave, Portland, OR 97266
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    • $1,800,000
      1.10 Acres

      Prime Portland Multifamily Investment

      Four-story apartment building, 1.1 acres
      11341-11411 Division St, Portland, OR 97266
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      66,000 SF

      Lents Commons Retail Space

      Portland Retail Opportunity: 1,665-2,304 SF
      9109 Foster Rd, Portland, OR 97266
      View Details
    • Contact for pricing
      21,239 SF

      Division Street Retail Space Available

      Retail space for lease in vibrant Portland location.
      11906-121 SE Division St, Portland, OR 97266
      View Details
    • $22 SF/Yr
      15,509 SF

      Centre 205: Portland Office Space

      Full-floor office, I-205 corridor, ample parking.
      2600 98Th Ave, Portland, OR 97266
      View Details
    • Contact for pricing
      2,904 SF

      Portland Retail Corner Store

      High-visibility, single-tenant retail space.
      8218 Holgate Blvd, Portland, OR 97266
      View Details
    • Contact for pricing
      12,420 SF

      Freestanding Retail/Entertainment Building Available

      12,420 SF freestanding building suitable for retail or entertainment.
      9120 SE Powell Blvd, Portland, OR 97266
      View Details
    • $18 SF/Yr
      315 SF

      Office Space Available For Rent

      Office space for rent with 315 square feet area.
      10011 SE Division St, Portland, OR 97266
      View Details
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    6203 97th Ave, Unit 6215
    Portland, OR 97266-4525
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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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