Mixed-Use Property with Excess
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For Sale
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8422 N Lombard St, Portland, OR 97203
Mixed-use building and commercial land offer a flexible configuration near neighborhood retail, dining, transit, and freeway access.
Property Size8,000 SF
Price / SF$174.38
Days on Market5
Property Features for 8422 N Lombard St
General Information
Standard status
Active
Size
8,000 SF
Property subtype
RETAIL
Listing Agency:
Apex Real Estate Partners
(503) 313-8149
Listed By:
Jordan Fezler · License #201225534
(503) 313-8149
Source:
Moodyscre
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 12:20PM
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 Apex Real Estate Partners
Investment Insights
Based on property information with market context.
This mixed-use property includes a 5,000 SF building fronting N. Lombard St and 10,000 SF of commercial mixed-use land. The property information identifies potential applications including an outdoor beer garden, food cart pods, dance or yoga studio, daycare or preschool, indoor bar, pickleball courts, retail, and office space.
Located at 8422 N Lombard St in Portland’s St. Johns neighborhood, the property is near downtown St. Johns restaurants, pubs, breweries, coffee shops, and other retailers. Freeway access and public transit are nearby, while the Willamette River and multiple parks provide additional surrounding amenities.
Located at 8422 N Lombard St in Portland’s St. Johns neighborhood, the property is near downtown St. Johns restaurants, pubs, breweries, coffee shops, and other retailers. Freeway access and public transit are nearby, while the Willamette River and multiple parks provide additional surrounding amenities.
Key Highlights
- 5,000 SF building fronting N. Lombard St
- 10,000 SF of commercial mixed‑use land
- Potential uses include food cart pods, retail, office, daycare, and indoor bar space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,000
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,160,000
$2.2M
Cap Rate 7%
$1,542,857
$1.5M
Cap Rate 9%
$1,200,000
$1.2M
Market Conditions
NOI Build-Up for 8,000 SF
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.
Gross rent
$192.0K $24.00/SF
− Vacancy
−$19.2K −$2.40/SF
EGI
$172.8K $21.60/SF
− OpEx
−$64.8K −$8.10/SF
NOI
$108.0K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,160,000
Cap Rate 7%
$1,542,857
Cap Rate 9%
$1,200,000
Alternative Uses
Best Use
Mixed Use
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 7.74%
Second Best
Office B
$1.48M
$1.29M – $1.73M
NOI $103,558 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,262 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Office in Portland, OR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building and commercial land offer a flexible configuration near neighborhood retail, dining, transit, and freeway access.
Where is this mixed-use property located?
The property is located at 8422 N Lombard St Portland, OR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 5,000 SF building fronting N. Lombard St; 10,000 SF of commercial mixed‑use land; Potential uses include food cart pods, retail, office, daycare, and indoor bar space
