8416 Lombard StPortland, OR 97203

Property Details for 8416 Lombard St

Year built

1924

Lot size

0.06 AC

Property size (Sq ft)

3,000 SF

Zone code

CS

Property type

Retail space

APN

1N1W12AB 08600

APU

1N1W12AB08600

Description

This exceptional Portland investment opportunity presents 8,000 square feet of commercial space across two buildings situated on a sizable 18,000 square foot lot. Located on N Lombard Street in the St. John's neighborhood, the property boasts a prime location with diverse zoning (CM2) allowing for a multitude of uses. Originally constructed in 1930 and extensively renovated in 2015, the buildings offer a blend of character and modern functionality. The property's versatility is highlighted by its suitability for a range of businesses, including daycare, restaurant, retail, office space, or a combination thereof. The substantial lot size also presents the potential for additional development, such as an outdoor beer garden or food cart pod. With two buildings, the property is ideal for owner-users seeking to occupy one space while generating income from the other, effectively offsetting debt service. The asking price is $1,800,000, translating to $225 per square foot. Parcel numbers are R232269, R232270, R232265, and R232266. This is a rare chance to acquire a flexible, high-potential commercial property in a thriving Portland neighborhood. The property's adaptability and location make it an attractive investment for both seasoned and emerging entrepreneurs.

• CAP approach

  CAP return

  Valuation

  6%

  $1,211,251

  6.5%

  $1,118,078

  7%

  $1,038,215

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,455,905

  Geo Method

  $1,455,905

• Alternative Use

  Use

  Valuation

  Residential

  $943,140

  Hospitality

  $863,911

  Educational

  $718,764

  Medical

  $743,484

  Retail

  $1,118,078

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5895

Longitude

-122.753

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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