Restored Retail Building For
5003 N Lombard St Portland, OR 97203
For Sale
Contact for pricing
Restored 3,440 SF retail building with two leased spaces.
Property Size3,440 SF
Price / SF$319.77
Days on Market822
Property Features for 5003 N Lombard St
General Information
- Standard status
- Active
- Size
- 3,440 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1950
Listing Agency:
Commercial Real Estate NW
(503) 309-5106
Listed By:
Denise Brohoski · License #OR 200508190
Source:
Crexi
Added: Apr 24, 2024
Changed: Jul 10
Last Checked: Jul 23 at 1:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Real Estate NW
Investment Insights
Based on property information with market context.
This 3,440 SF building, constructed in 1950, underwent a complete restoration in 2015, resulting in two leased spaces. Suite A is currently occupied by a restaurant with a lease expiring in October 2025. Suite B is leased to a commercial kitchen, with its lease expiring in April 2026. The property includes a 100-gallon grease trap and two restrooms located in a common area. Additional features include a roll-up glass door, outdoor seating, and large windows. This property is located in a fantastic area.
Key Highlights
- Completely restored in 2015, offering modern amenities and appeal.
- Two leased spaces provide immediate rental income.
- Leases in place until October 2025 and April 2026, ensuring stable cash flow.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.0k | $19.20 |
| − Vacancy | −$4.3k | −$1.25 |
| EGI | $61.8k | $17.95 |
| − OpEx | −$15.4k | −$4.49 |
| NOI | $46.3k | $13.46 |
3,440 SF · lease $19.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$661.7K
$579.0K – $771.9K
NOI $46,316 @ 7.0% cap · market cap 4.21%
Second Best
Retail
$572.8K
$501.2K – $668.2K
NOI $40,093 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$966.0K
$845.3K – $1.13M
NOI $67,623 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sassy Souk's Pho ...
Restaurant
Albina City Nuts
Industrial Manufacturer
Mcdowell Brothers Plumbers ...
Plumbing Service
FAQs
What type of property is this?
Retail space - Restored 3,440 SF retail building with two leased spaces.
Where is this retail space located?
The property is located at 5003 N Lombard St Portland, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Completely restored in 2015, offering modern amenities and appeal.; Two leased spaces provide immediate rental income.; Leases in place until October 2025 and April 2026, ensuring stable cash flow.
