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    5003 Lombard St Portland, OR 97203

    Sponsored
    For Sale
    $1,595,000

    High-Cap Rate, Fully Leased, Two Tenants

    Property size:
    3,440 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Portland investment property, located at 5003 N Lombard St, offers a compelling opportunity. The 3,440 square foot building, completely renovated in 2015, boasts a 7.68% cap rate and a strong NOI of $122,525. Currently 100% occupied by two tenants – a restaurant and a commercial kitchen – the property features a multi-tenant lease structure with lease expirations in April 2026 (kitchen) and October 2025 (restaurant). The shared amenities include a 100-gallon grease trap and two restrooms. Built in 1950 on a 7,000 square foot lot, the single-story building offers attractive features such as a roll-up glass door, outdoor seating, and large windows. The asking price is $1,595,000, translating to $463.66 per square foot. This prime location in Multnomah County, Oregon, presents a rare chance to acquire a stable, high-performing commercial property with significant upside potential. The remaining lease term for the current tenants is approximately 1.4 years.

    Property Features for 5003 Lombard St

    General Information

    Property type
    Restaurants
    Square Feet
    3,440 SF

    Building Details

    Year Built/Renovated
    1950/2015
    Stories
    1

    HighLights

    • $1,595,000 asking price for a 3,440 SF multi‑tenant retail property in Portland, OR.
    • 7.68% cap rate with a $122,525 NOI.
    • 100% occupancy with two tenants: a restaurant and a commercial kitchen.
    • NNN lease structure with lease expirations in April 2026 and October 2025.
    • Located at 5003 N Lombard St, Portland, OR 97203, on a 7,000 SF lot.
    • Completely renovated in 2015, originally built in 1950.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sassy Souk's Pho ... Restaurant Albina City Nuts Manufacturer Mcdowell Brothers Plumbers ... Plumber

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.71980833158
    Latitude
    45.581013465853

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    FAQs

    What type of property is this?
    Restaurant - High-Cap Rate, Fully Leased, Two Tenants
    Where is this restaurant located?
    The property is located at 5003 Lombard St Portland, OR.
    What is the asking price?
    The asking price for this property is $1,595,000.
    What are key features of this property?
    This property features: $1,595,000 asking price for a 3,440 SF multi-tenant retail property in Portland, OR.; 7.68% cap rate with a $122,525 NOI.; 100% occupancy with two tenants: a restaurant and a commercial kitchen.
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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
    5003 Lombard St Portland, OR 97203
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