Industrial Warehouse with
New
For Sale
$3,825,000
8900 NE Lombard St, Portland, OR 97220
IG2-zoned space combines warehouse operations, dedicated offices, and outdoor storage.
Property Size23,777 SF
Price / SF$160.87
Days on Market3
Property Features for 8900 NE Lombard St
General Information
Standard status
Active
Size
23,777 SF
Property subtype
Commercial
Zoning
IG2
Site & Location
Neighborhood
Cathedral Park
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
21,805 SF
Office Build-Out
1,972 SF
Taxes and HOA fees
Annual Taxes
$18,415
Building Details
Building Size
23,777 SF
Year Built
1958
Buildings
3
Stories
1
Listing Agency:
John L. Scott /PTL Metro
Listed By:
Kenneth Cahill · License #930400123
(503) 680-4800
Source:
Duanejohnson
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 5:46PM
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 John L. Scott /PTL Metro
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Investment Insights
Based on property information with market context.
This Portland industrial property includes a 21,805-square-foot warehouse, 1,972 square feet of office space, and 1,502 square feet of outdoor storage. The separate office area supports administrative functions, while the exterior space accommodates equipment or materials. The building was constructed in 1958 and is zoned IG2.
At 8900 NE Lombard St, the property is situated near the NE Lombard and 89th Ave intersection. The site is described as having access to major freeways and Portland International Airport. Its warehouse, office, and storage areas support a range of industrial, logistics, and distribution applications.
At 8900 NE Lombard St, the property is situated near the NE Lombard and 89th Ave intersection. The site is described as having access to major freeways and Portland International Airport. Its warehouse, office, and storage areas support a range of industrial, logistics, and distribution applications.
Key Highlights
- 21,805‑square‑foot warehouse
- 1,972 square feet of office space
- 1,502 square feet of outdoor storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,215
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,624,300
$3.6M
Cap Rate 7%
$2,588,786
$2.6M
Cap Rate 9%
$2,013,500
$2.0M
Market Conditions
NOI Build-Up for 23,777 SF
Gross rent
$228.3K $9.60/SF
− Vacancy
−$15.1K −$0.63/SF
EGI
$213.2K $8.97/SF
− OpEx
−$32.0K −$1.34/SF
NOI
$181.2K $7.62/SF
Area
Portland, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,624,300
Cap Rate 7%
$2,588,786
Cap Rate 9%
$2,013,500
Alternative Uses
Best Use
Warehouse
$2.59M
$2.27M – $3.02M
NOI $181,215 @ 7.0% cap · market cap 4.74%
Second Best
Industrial
$2.13M
$1.87M – $2.49M
NOI $149,236 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$6.68M
$5.84M – $7.79M
NOI $467,402 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Portland, OR
Similar Off Market Nearby
- Stasher Luggage Storage — 7319 N John Ave, Portland, OR 97203
- Self Storage — 8195 n lombard st, portland, or 97203
- Northwest Self Storage — 8190 N Lombard St, Portland, OR 97203
- Key Storage — 6908 N Roberts Ave, Portland, OR 97203
Frequently Asked Questions
What type of property is this?
Warehouse - IG2-zoned space combines warehouse operations, dedicated offices, and outdoor storage.
Where is this warehouse located?
The property is located at 8900 NE Lombard St Portland, OR.
What is the asking price?
The asking price for this property is $3,825,000.
What are key features of this property?
This property features: 21,805‑square‑foot warehouse; 1,972 square feet of office space; 1,502 square feet of outdoor storage
