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

    738 128th Ave Portland, OR 97233-1606

    • Assisted living facilities
    • 1,976 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0613194
    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

    • Forever Friends / Assisted Living Facility

    Property Details for 738 128th Ave

    Year built
    1981
    Lot size
    0.18 lot acres
    Property size
    1,976 SF
    Zone code
    R2A
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    1S2E02BA 13600
    APU
    1S2E02BA13600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.531
    Latitude
    45.517
    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
    $6,050
    $0.00
    $0.00
    $257,400
    -
    $190,000
    $275,290
    $465,290

    Comparable in this City

    • Value Estimation by Request
      1,851 SF

      12541 Ml St

      HOMES (RETIRED, NURSING) • 1,851 SF
      12541 Ml St, Portland, OR 97233-1321
      View Details
    • Value Estimation by Request
      2,396 SF

      311 133rd Ave

      HOMES (RETIRED, NURSING) • 2,396 SF
      311 133rd Ave, Portland, OR 97233-1807
      View Details
    • Value Estimation by Request
      1,706 SF

      530 135th Ave

      HOMES (RETIRED, NURSING) • 1,706 SF
      530 135th Ave, Portland, OR 97233-1918
      View Details
    • Value Estimation by Request
      2,760 SF

      2341 143rd Ave

      HOMES (RETIRED, NURSING) • 2,760 SF
      2341 143rd Ave, Portland, OR 97233-2444
      View Details
    • Value Estimation by Request
      4,082 SF

      805 151st Ave

      HOMES (RETIRED, NURSING) • 4,082 SF
      805 151st Ave, Portland, OR 97233-2916
      View Details
    • Value Estimation by Request
      4,096 SF

      2217 156th Ave

      HOMES (RETIRED, NURSING) • 4,096 SF
      2217 156th Ave, Portland, OR 97233-3447
      View Details

    Similar Nearby for Sale

    • $199,900
      0.24 Acres

      Buildable Lot in East Portland

      Quarter-acre lot near transportation, shops, and downtown Portland.
      15590 E Burnside St, Portland, OR 97233
      View Details
    • $190,000
      820 SF

      Portland Condo Near MAX Station

      Charming 2-bedroom condo with convenient access to transportation and amenities.
      281 SE 162Nd Ave, Portland, OR 97233
      View Details
    • $42,499
      696 SF

      Remodeled Home Near Local Amenities

      Remodeled 2-bedroom, 1-bathroom manufactured home in a convenient location.
      13045 SE Stark St, Portland, OR 97233
      View Details
    • $990,000
      1 SF

      High Density Development Opportunity

      One acre development site with five existing rental units.
      17948 E Burnside St, Portland, OR 97233
      View Details
    • New
      $475,000
      2,293 SF

      Portland Home with Additional Unit

      One-level home with flexible space, ideal for multi-generational living.
      1435 SE 148Th Ave, Portland, OR 97233
      View Details
    • Contact for pricing

      Storefront with Connected Warehouse Space

      12,000 SF commercial property with flexible zoning on 1.07 acres.
      Portland, OR 97233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,435 SF

      Walk-Up Offices with Natural Light

      Professionally managed office space near Mall 205.
      1515 SE 122Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on NE 122nd

      Retail space available with high traffic and convenient highway access.
      1614-1950 NE 122Nd Ave, Portland, OR 97233
      View Details
    • Contact for pricing
      15,038 SF

      Portland Retail Center - Division St

      High-traffic retail space, multiple units available.
      12250 Division St, Portland, OR 97233
      View Details
    • $20 SF/Yr
      6,700 SF

      Retail Space at Glisan Station

      Retail space available in a densely populated shopping center.
      221 NE 122Nd Ave, Portland, OR 97233
      View Details
    • $21 SF/Yr
      2,453 SF

      Shell Condition Office Space

      Office space for rent with signage and parking available.
      13908 SE Stark St, Portland, OR 97233
      View Details
    • $9 SF/Yr
      24,400 SF

      Industrial Space with Loading Dock

      Industrial space featuring a loading dock, parking, and signage.
      621 SE 202Nd Ave, Portland, OR 97233
      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.
    738 128th Ave
    Portland, OR 97233-1606
    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.