Restored Retail Building For
For Sale
Contact for pricing
5003 North Lombard Street, Portland, OR 97203
Restored 3,440 SF retail building with two leased spaces.
Property Size3,440 SF
Price / SF$276.16
Days on Market922
Property Features for 5003 North Lombard Street
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Retail
Lease Type
NNN
Site & Location
Neighborhood
Portsmouth
Building Details
Year Built
1950
Year Renovated
2015
Stories
1
Tenancy
Multi
Listing Agency:
Commercial Real Estate NW
Listed By:
Denise Brohoski · License #OR 200508190
(503) 309-5106
Source:
Crexi
Added: Apr 24, 2024
Changed: Oct 25
Last Checked: Nov 1 at 4:18AM
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 Commercial Real Estate NW
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,440 SF building, constructed in 1950, underwent a complete restoration in 2015, resulting in two leased spaces. Suite A is currently occupied by a restaurant with a lease expiring in October 2025. Suite B is leased to a commercial kitchen, with its lease expiring in April 2026. The property includes a 100-gallon grease trap and two restrooms located in a common area. Additional features include a roll-up glass door, outdoor seating, and large windows. This property is located in a fantastic area.
Key Highlights
- Completely restored in 2015, offering modern amenities and appeal.
- Two leased spaces provide immediate rental income.
- Leases in place until October 2025 and April 2026, ensuring stable cash flow.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,093
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,860
$801.9K
Cap Rate 7%
$572,757
$572.8K
Cap Rate 9%
$445,478
$445.5K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$61.9K $18.00/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$57.3K $16.65/SF
− OpEx
−$17.2K −$5.00/SF
NOI
$40.1K $11.66/SF
Area
Portland, OR
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,860
Cap Rate 7%
$572,757
Cap Rate 9%
$445,478
Alternative Uses
Best Use
Retail
$572.8K
$501.2K – $668.2K
NOI $40,093 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$966.0K
$845.3K – $1.13M
NOI $67,623 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
504
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Portland, OR
Frequently Asked Questions
What type of property is this?
Retail space - Restored 3,440 SF retail building with two leased spaces.
Where is this retail space located?
The property is located at 5003 North Lombard Street Portland, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Completely restored in 2015, offering modern amenities and appeal.; Two leased spaces provide immediate rental income.; Leases in place until October 2025 and April 2026, ensuring stable cash flow.
