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    2714 Lombard St Portland, OR 97217

    For Sale
    $945,000

    NNN Leased Bank, Strong Tenant, High NOI

    Property size:
    2,940 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents the fee simple ownership of a Chase Bank branch located at 2714 N Lombard St, Portland, OR 97217. The property, a single-story, 2,940 square foot building on a 0.24-acre lot, is situated in the Arbor Lodge neighborhood of North Portland, enjoying high visibility on N. Lombard Street (US 30 Bypass), less than a mile from I-5. Built in 1958 and renovated in 2008, the building is zoned CM2. The property is currently 100% occupied under a Net Lease (NNN) agreement with Chase Bank, a corporate guaranteed tenant, with a remaining lease term of approximately 3.8 years. The lease commenced August 26, 2003, and includes a 5-year option with a fixed 10% rental increase. The current Net Operating Income (NOI) is $54,450, with a pro-forma NOI of $59,895, yielding a current cap rate of 5.76% and a pro-forma cap rate of 6.34%. The asking price is $945,000, translating to a price per square foot of $321.43. This location boasts an average of $157 million in annual deposits. N. Lombard Street, a main thoroughfare, sees over 21,000 vehicles per day. Recent significant improvements to N. Lombard Street totaling over $16 million enhance safety and travel times. This presents a stable, income-producing asset with a long-term tenant history.

    Property Features for 2714 Lombard St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,940 SF
    Class
    B
    Lot Size
    10,454 SF

    Building Details

    Year Built/Renovated
    1958/2008
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • High annual deposits averaging $157 million.
    • Corporate guaranteed lease with Chase Bank.
    • High‑traffic location on N. Lombard St. (21,000+ VPD).
    • Long‑term tenant occupancy since 2003, with lease renewal history.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chase Mortgage Mortgage Lender Chase ATM Atm Chase Bank Bank

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6949637
    Latitude
    45.5769044

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    FAQs

    What type of property is this?
    Individual retail property - NNN Leased Bank, Strong Tenant, High NOI
    Where is this individual retail property located?
    The property is located at 2714 Lombard St Portland, OR.
    What is the asking price?
    The asking price for this property is $945,000.
    What are key features of this property?
    This property features: High annual deposits averaging $157 million.; Corporate guaranteed lease with Chase Bank.; High-traffic location on N. Lombard St. (21,000+ VPD).
    Request Owner's contact information
    2714 Lombard St Portland, OR 97217
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    Portland, OR 97217
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2714 Lombard St Portland, OR 97217
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