8824 Lombard StPortland, OR 97203

Property Details for 8824 Lombard St

Year built

1926

Lot size

0.11 AC

Property size (Sq ft)

4,000 SF

Zone code

CS

Property type

Retail space

APN

1N1W01CD 11100

APU

1N1W01CD11100

Description

This exceptional Portland commercial property, located at 8824 N Lombard St, presents a unique investment opportunity. The 5,000 square foot building, constructed in 1962, sits on a substantial 15,000 square foot lot comprised of two tax lots. The property is zoned CM2 – Commercial Mixed Use, offering flexibility for a variety of uses. Currently configured as a manufacturing facility, the building features a well-maintained, free-standing structure previously occupied by a commercial painting contractor. The interior boasts a thoughtfully designed office space, incorporating a blend of private offices and open bullpen areas, enhanced by natural light from skylights. The warehouse area showcases exposed beams and offers two grade-level access doors, providing convenient loading and unloading capabilities. The building boasts a 16-foot clear height, maximizing storage and operational efficiency. The office space encompasses 1,800 square feet. A significant advantage is the inclusion of an additional 5,000 square foot lot, providing potential for expansion, development, or additional on-site parking. Furthermore, a Phase I and Phase II environmental assessment has recently been completed by the seller, providing peace of mind for potential buyers. This property is ideally suited for a variety of manufacturing or commercial uses and represents a compelling investment opportunity in a desirable Portland location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,615,001

  6.5%

  $1,490,770

  7%

  $1,384,286

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,941,206

  Geo Method

  $1,941,206

• Alternative Use

  Use

  Valuation

  Residential

  $1,257,520

  Hospitality

  $1,151,882

  Educational

  $958,352

  Medical

  $991,311

  Retail

  $1,490,770

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5914

Longitude

-122.756

CBSA code

38900

CBSA name

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

Property Tax & Assessments

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