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

    7501 21st Ave Portland, OR 97211-1902

    • Office Properties & Spaces
    • 2,667 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2021
    $401,905
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    8.9%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US71-1906442
    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

    • Western Sky Motors, LLC / Car Dealership

    Property Details for 7501 21st Ave

    Year built
    1979
    Lot size
    0.23 lot acres
    Property size
    2,667 SF
    Zone code
    IG2H
    Property type
    Office Properties & Spaces
    APN
    1N1E11DD 01200
    APU
    1N1E11DD01200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $555,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $654,000
      Market price range: $474k - $1.15M
      AI Estimate
      $654,000
      Market price range: $474k - $1.15M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $770,000
      Current use
      AUTO REPAIR, GARAGE
      $815,000
      Change: +6% Conversion: Difficult
      MEDICAL BUILDING
      $805,000
      Change: +5% Conversion: Easy
      RETAIL STORES
      $800,000
      Change: +4% Conversion: Easy
      OFFICE BUILDING
      $770,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.644
    Latitude
    45.5773
    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
    $7,760
    $0.00
    $0.00
    $282,990
    -
    $180,260
    $706,150
    $886,410

    Comparable in this City

    • Value Estimation
      $1,115,000
      6,284 SF

      3002 Ainsworth St

      OFFICE (GENERAL) • 6,284 SF
      3002 Ainsworth St, Portland, OR 97211-6752
      View Details
    • Value Estimation
      $2,595,000
      8,000 SF

      5949 30th Ave

      OFFICE (GENERAL) • 8,000 SF
      5949 30th Ave, Portland, OR 97211-6760
      View Details
    • Value Estimation by Request
      1,232 SF

      5229 M L King Blvd Ste, Unit 102

      CONDOMINIUM OFFICES • 1,232 SF
      5229 M L King Blvd Ste, Portland, OR 97211-3281
      View Details
    • Value Estimation by Request
      1,340 SF

      5229 M L King Blvd Ste, Unit 103

      CONDOMINIUM OFFICES • 1,340 SF
      5229 M L King Blvd Ste, Portland, OR 97211-3281
      View Details
    • Value Estimation by Request
      1.59 Acres

      5225 M L King Blvd

      CONDOMINIUM OFFICES • 1.59 Acres
      5225 M L King Blvd, Portland, OR 97211-3235
      View Details
    • Value Estimation by Request
      952 SF

      5263 M L King Blvd

      CONDOMINIUM OFFICES • 952 SF
      5263 M L King Blvd, Portland, OR 97211-3235
      View Details

    Similar Nearby for Sale

    • $5,195,000
      34,157 SF

      Prime NE MLK Blvd Opportunity

      1.54 AC site with 34,157 SF industrial warehouse.
      4401 NE Martin Luther King Blvd, Portland, OR 97211
      View Details
    • $5,800,000
      32,000 SF

      Portland Auto Body Shop Opportunity

      Auto body shop with warehouses on 1.58 acres for sale.
      7606 NE M L King Jr, Portland, OR 97211
      View Details
    • Contact for pricing

      Versatile Corner Office Building

      Multi-tenant office building in Woodlawn neighborhood with CM2 zoning.
      Portland, OR 97211
      View Details
    • Contact for pricing
      51,766 SF

      Office or Mixed-Use Potential

      Located in General Industrial Zone with office or mixed-use possibilities.
      2201 NE Columbia Blvd, Portland, OR 97211
      View Details
    • $2,500,000
      2.49 Acres

      Sunderland: 40-Unit Development Site

      Portland multifamily land, R-10 & IC zoning.
      7130 33Rd Dr, Portland, OR 97211
      View Details
    • $369,900

      Stylish Home in King Neighborhood

      Sophisticated home in Portland's vibrant King neighborhood with modern finishes.
      205 NE Going St, Portland, OR 97211
      View Details

    Similar Nearby for Lease

    • $0.50 SF/Yr
      6,654 SF

      Versatile Office Space Available

      Office space with mixed-use potential, ample parking, high visibility.
      2201-2207 NE Columbia Blvd, Portland, OR 97211
      View Details
    • Contact for pricing
      82,440 SF

      Portland Industrial Warehouse with Office

      82,440 SF industrial space near Portland Airport.
      9611 NE Sunderland Ave, Portland, OR 97211
      View Details
    • Contact for pricing

      Prime Location on NE Alberta

      Spacious, modern property in a vibrant, high-visibility Portland location.
      2009 NE Alberta St, Portland, OR 97211
      View Details
    • $10 SF/Yr
      22,157 SF

      Portland Industrial Flex Space

      Versatile Portland industrial space available
      55 Farragut St, Portland, OR 97211
      View Details
    • $1,000 /Mo
      800 SF

      Office Space with Coffee Bar

      Open office space featuring a coffee bar in Portland, Oregon.
      7515 NE 13Th Ave, Portland, OR 97211
      View Details
    • Contact for pricing
      2,080 SF

      Renovated Retail and Office Space

      Recently renovated retail and creative office space for lease.
      2904 NE Alberta St, Portland, OR 97211
      View Details
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    7501 21st Ave
    Portland, OR 97211-1902
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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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