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

    8828 Division St Portland, OR 97266

    • Commercial real estate
    • 2,398 SF
    • 0.39 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0834654
    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

    • Vicious Cycle / Motorcycle Shop / Service Establishment

    Property Details for 8828 Division St

    Year built
    1948
    Lot size
    0.39 lot acres
    Property size
    2,398 SF
    Zone code
    CS
    Property type
    Commercial real estate
    APN
    1S2E09BA 08500
    APU
    1S2E09BA08500

    Description

    This exceptional 4,895-square-foot flex space, located at 8828 SE Division St, Portland, OR 97266, presents a unique opportunity for a variety of businesses. Situated in the desirable Portland Inner SE - West of I-205 submarket, this single-tenant property offers a versatile layout suitable for retail, office, or industrial uses. The building, constructed in 1948, sits on a 0.39-acre lot (17,078 square feet) and boasts a 28 building FAR. The property features 15 parking spaces with convenient driveway access from Division and 89th Avenue. The zoning is CS2. The building's gross leasable area is 4,895 square feet, with approximately 2,920 square feet potentially suitable for retail/office and 2,400 square feet for manufacturing/warehouse use. The property includes a 280-foot frontage. Taxes are $1.66 per square foot. The owner is open to dividing the space to accommodate multiple tenants. A tenant improvement budget is available. This property offers a compelling combination of location, size, and flexibility, making it an attractive investment opportunity. The property's APN is R193367. The monthly rent is $5,000 NNN. There are no loading docks or dock-high doors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $627,000
      Market price range: $322k - $791k
      AI Estimate
      $627,000
      Market price range: $322k - $791k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $495,000
      Current use
      MEDICAL BUILDING
      $725,000
      Change: +47% Conversion: Easy
      RETAIL STORES
      $720,000
      Change: +46% Conversion: Easy
      OFFICE BUILDING
      $695,000
      Change: +40% Conversion: Easy
      AUTO REPAIR, GARAGE
      $605,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $490,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.572
    Latitude
    45.5043
    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
    $7,775
    $0.00
    $0.00
    $293,400
    -
    $410,500
    $904,130
    $1,314,630

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      Woodstock Ct

      COMMERCIAL (GENERAL) • 0.17 Acres
      Woodstock Ct, Portland, OR 97266
      View Details
    • Value Estimation by Request
      1.44 Acres

      103rd Ave

      COMMERCIAL (GENERAL) • 1.44 Acres
      103rd Ave, Portland, OR 97266
      View Details
    • Value Estimation by Request
      910 SF

      5838 111th Ave

      COMMERCIAL (GENERAL) • 910 SF
      5838 111th Ave, Portland, OR 97266-4115
      View Details
    • Value Estimation by Request
      2,000 SF

      10905 Powell Blvd

      COMMERCIAL (GENERAL) • 2,000 SF
      10905 Powell Blvd, Portland, OR 97266-1834
      View Details
    • Value Estimation
      $550,000
      3,900 SF

      8827 Division St

      COMMERCIAL (GENERAL) • 3,900 SF
      8827 Division St, Portland, OR 97266-1445
      View Details
    • Value Estimation by Request
      0.11 Acres

      Levy Code

      COMMERCIAL (GENERAL) • 0.11 Acres
      Levy Code, Portland, OR 97266
      View Details

    Similar Nearby for Sale

    • $820,000
      0.72 Acres

      SE Division St Development Land

      Prime Portland land, RM1 zoning, multifamily potential.
      10412 Division St, Portland, OR 97266
      View Details
    • $2,000,000

      Lents Commercial Land - $2M

      Prime .5-acre development lot in thriving Lents.
      6011 92Nd Ave, Portland, OR 97266
      View Details
    • $11,500,000
      2.53 Acres

      Portland Industrial Land - $11.5M

      Prime Portland acreage: ideal development or HQ.
      0 17Th Ave, Portland, OR 97266
      View Details
    • $329,000
      1,132 SF

      Portland Bungalow in Prime Location

      Remodeled bungalow near parks, dining, nightlife, and transportation.
      2536 SE 87Th Ave, Portland, OR 97266
      View Details
    • $348,900
      1,208 SF

      Impeccably Designed Home with Modern Amenities

      Stylish home with open layout, modern kitchen, and private yard.
      10440 SE Yukon St, Portland, OR 97266
      View Details
    • $328,900

      Spacious Home with Open Layout

      A sanctuary with open layout, stylish kitchen, and private yard.
      10460 SE Yukon St, Portland, OR 97266
      View Details

    Similar Nearby for Lease

    • $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
    • $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
    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.
    8828 Division St
    Portland, OR 97266
    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.