Church Building with Commercial
For Sale
$999,000
5740 NE LOMBARD, Portland, OR 97218
Church building with food pantry and development potential for sale.
Property Size6,035 SF
Price / SF$165.53
Days on Market502
Property Features for 5740 NE LOMBARD
General Information
Standard status
Active
Size
6,035 SF
Taxes and HOA fees
Annual Taxes
$20,790
Building Details
Year Built
1996
Listing Agency:
VANDERMEER REAL ESTATE
Listed By:
ADAM HARVEY
(503) 489-8381
Source:
Corcoran
Added: Jun 5, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 VANDERMEER REAL ESTATE
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Investment Insights
Based on property information with market context.
This property features a 6,035 square foot church building situated on 0.59 acres of land. The sanctuary provides seating for 240 individuals and includes a nursery, three smaller offices or classrooms, and three restrooms. On-site parking is available with 30 spaces. The CM1 zoning designation allows for a variety of use options. The listing also includes a neighboring 2,400 square foot commercial building on 0.15 acres, currently used as a food pantry. This second building is equipped with a kitchen space, one restroom, and 12 on-site parking spaces. Both buildings can be purchased separately.
Key Highlights
- Includes two buildings: a 6,035 SF church and a 2,400 SF commercial building.
- The church sanctuary seats 240 people.
- CM1 zoning offers diverse usage possibilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,255
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,625,100
$1.6M
Cap Rate 7%
$1,160,786
$1.2M
Cap Rate 9%
$902,833
$902.8K
Market Conditions
NOI Build-Up for 6,035 SF
Gross rent
$115.9K $19.20/SF
− Vacancy
−$7.5K −$1.25/SF
EGI
$108.3K $17.95/SF
− OpEx
−$27.1K −$4.49/SF
NOI
$81.3K $13.46/SF
Area
Portland, OR
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,625,100
Cap Rate 7%
$1,160,786
Cap Rate 9%
$902,833
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,255 @ 7.0% cap · market cap 8.13%
Second Best
Retail
$1.00M
$879.2K – $1.17M
NOI $70,338 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,634 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
Median Home Value
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Market
Vacancy Rate% for Retail in Portland, OR
Frequently Asked Questions
What type of property is this?
Church & religious facility - Church building with food pantry and development potential for sale.
Where is this church & religious facility located?
The property is located at 5740 NE LOMBARD Portland, OR.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Includes two buildings: a 6,035 SF church and a 2,400 SF commercial building.; The church sanctuary seats 240 people.; CM1 zoning offers diverse usage possibilities.
