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    1622 Lombard St Portland, OR 97217

    Sponsored
    For Lease
    $14 SF/Yr ($13,333 /Mo)

    Prime North Portland retail space available.

    Lot size:
    11,429 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A, freestanding retail property in Multnomah County's North Portland submarket offers 11,429 square feet of single-tenant occupancy. Currently leased to Aaron's Rents, this building presents a unique sublease opportunity. The existing lease agreement has a considerable term remaining, extending until October 2032, providing long-term stability for the investor. The property's classification as a freestanding building offers excellent visibility and accessibility, making it an ideal location for a variety of retail businesses. Its location within the vibrant North Portland submarket ensures high foot traffic and exposure to a diverse customer base. Interested parties are encouraged to schedule a property tour to fully appreciate the potential of this exceptional retail space. Please note that direct contact with the current tenant is discouraged; property tours will be arranged through the appropriate channels. This is a rare opportunity to acquire a well-located, high-quality retail asset with a substantial remaining lease term. The property's size and location make it suitable for a wide range of retail uses, offering significant potential for return on investment. All inquiries should be directed through official channels to ensure a smooth and efficient process.

    Property Features for 1622 Lombard St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,429 SF
    Class
    A
    Total Rate
    13333.83

    Unit(s) available at that property

    Space
    Size
    11,429 SF
    Rate per SF
    $14

    HighLights

    • Class A, 11,429 SF freestanding retail building in North Portland's submarket of Multnomah County.
    • Single‑tenant occupancy.
    • Sublease opportunity; current lease expires October 2032.
    • Do Not Disturb Tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Aaron's Electronics Electronics Store Aaron's Furniture Rental Service Ash Store Beauty Salon

    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
    -122.68392468134
    Latitude
    45.577079121143

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    FAQs

    What type of property is this?
    Individual retail property - Prime North Portland retail space available.
    Where is this individual retail property located?
    The property is located at 1622 Lombard St Portland, OR.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Class A, 11,429 SF freestanding retail building in North Portland's submarket of Multnomah County.; Single-tenant occupancy.; Sublease opportunity; current lease expires October 2032.
    Request Owner's contact information
    1622 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
    1622 Lombard St Portland, OR 97217
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