2150 82Nd AvePortland, OR 97220

Property Details for 2150 82Nd Ave

Year built

1969

Lot size

0.22 AC

Property size (Sq ft)

2,020 SF

Zone code

CG

Property type

Commercial real estate

APN

1N2E28CB 09200

APU

1N2E28CB09200

Description

This 2,020 square foot medical office building in Portland, Oregon, is available for $875,000. Located at 2150 NE 82nd Ave, this vacant property boasts a 7.80% cap rate and a pro-forma cap rate of 8.04%. The building, constructed in 1968, features a recent Class A medical build-out, including an X-ray room, lab rooms, and an on-site server and monitor. Modern amenities include in-floor air, water, and electrical systems, new Blue Sky LED light fixtures, and a Phillips security system with interior and exterior cameras. Situated on a 9,376 square foot lot (0.22 acres) zoned Commercial Employment (CE), this property offers significant future development potential. The highly visible location on NE 82nd Avenue provides excellent visibility, with over 72,000 households within a three-mile radius. The property includes a dedicated parking lot with 12 spaces and two points of entry, along with a locked refuse and recycling shed. The building's excellent condition and price, significantly below new construction costs, make this an attractive investment opportunity for owner-users seeking a medical, dental, or creative office space. The property is conveniently located one block from the University of Western States and less than a mile from Multnomah University. The Net Operating Income (NOI) is $68,272, with a pro-forma NOI of $70,336. The price per square foot is $433.17.

• CAP approach

  CAP return

  Valuation

  6%

  $628,788

  6.5%

  $580,420

  7%

  $538,961

• Comparable approach

  Method

  Valuation

  Relative Method

  $389,012

  Geo Method

  $389,012

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,198,090

  Retail / Commercial

  $603,533

  Mixed-Use / Specialty

  $592,839

  Hospitality / Lodging

  $423,826

  Office

  $580,420

  Institutional / Educational

  $613,261

  Residential Income

  $717,515

  Multifamily

  $907,904

  Automotive / Energy

  $525,652

  Parking / Income-Based Land

  $189,835

  Restaurant / Food Service

  $290,110

  Healthcare / Senior Housing

  $616,705

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5378

Longitude

-122.579

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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