St Johns Mixed-Use
For Sale
Contact for pricing
Pending
8416 N Lombard St, Portland, OR 97203
Two buildings and land with limitless possibilities in St Johns.
Property Size5,000 SF
Lot Size0.23 Acres
Days on Market735
Property Features for 8416 N Lombard St
General Information
Standard status
Pending
Size
5,000 SF
Lot size
0.23 Acres
Property subtype
Land, Office, Retail
Zoning
CM2
Investment Type
Owner/User
Building Details
Year Built
1930
Year Renovated
2015
Buildings
2
Stories
1
Listing Agency:
Apex Real Estate Partners
(503) 313-8149
Listed By:
Jordan Fezler · License #201225534
Source:
Crexi
Added: Aug 19, 2024
Changed: Aug 21
Last Checked: Aug 23 at 6:12AM
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 core St Johns property presents limitless opportunities, comprising two buildings fronting N Lombard St and 10,000 SF of commercial mixed-use land. Potential uses include an outdoor beer garden, food cart pod, indoor bar, pickleball courts, daycare, retail, office, dance or yoga studio, or multi-tenant investment. The property allows for occupying one space while the other helps with debt service. Flexible purchase configurations are available with three options for sale: a portfolio of all four parcels (two buildings and two land sites), one 3,000 SF building, or one 5,000 SF building with 10,000 SF of excess land.
Key Highlights
- Flexible purchase options: Portfolio of all four parcels for $1,395,000, one 3,000 SF building for $400,000, or one 5,000 SF building with 10,000 SF excess land for $995,000.
- Significant commercial mixed‑use land (10,000 SF) included.
- Two buildings fronting N Lombard St.
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
$67,500
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
4.82%
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%
$1,350,000
$1.4M
Cap Rate 7%
$964,286
$964.3K
Cap Rate 9%
$750,000
$750.0K
Market Conditions
NOI Build-Up for 5,000 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
$120.0K $24.00/SF
− Vacancy
−$12.0K −$2.40/SF
EGI
$108.0K $21.60/SF
− OpEx
−$40.5K −$8.10/SF
NOI
$67.5K $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%
$1,350,000
Cap Rate 7%
$964,286
Cap Rate 9%
$750,000
Alternative Uses
Best Use
Mixed Use
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,289 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,006
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two buildings and land with limitless possibilities in St Johns.
Where is this commercial land located?
The property is located at 8416 N Lombard St Portland, OR.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Flexible purchase options: Portfolio of all four parcels for $1,395,000, one 3,000 SF building for $400,000, or one 5,000 SF building with 10,000 SF excess land for $995,000.; Significant commercial mixed‑use land (10,000 SF) included.; Two buildings fronting N Lombard St.
