Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    3246 Lombard St Portland, OR 97217

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3246 Lombard St Portland, OR 97217

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • NELLIE CHUNG / Physician
    • June Tse / Physician
    • Brock Karben, OD / Physician
    • Jona Johnson / Physician
    • Ann Slocum-Edmonds / Physician

    Property Details for 3246 Lombard St

    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 1,973 square foot medical office space is ideally situated at 3246 N Lombard Street, Portland, Oregon, 97217, near the intersection of N Oatman Avenue. The property is a single-story building offering a turnkey solution for medical professionals. Previously occupied by an eye clinic, this second-generation space provides a ready-to-use layout, minimizing the need for extensive renovations. The lease rate is $26 per square foot, plus NNN charges. The space is categorized as Retail, Office, and Special Purpose, specifically designed for medical office use. The building's location within Portland's Swan Island District offers excellent visibility and accessibility. The property is available for lease commencing September 1st, 2024. This is a single-tenant occupancy opportunity. Interested parties should inquire promptly to secure this prime medical office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.7
    Latitude
    45.5771

    Comparable in this City

    • Value Estimation by Request
      5,972 SF

      4212 Mississippi Ave

      Restaurants • 5,972 SF
      4212 Mississippi Ave, Portland, OR 97217
      View Details
    • Value Estimation by Request
      9,604 SF

      2056 Lombard St

      Flex space • 9,604 SF
      2056 Lombard St, Portland, OR 97217
      View Details
    • Value Estimation by Request
      1,188 SF

      1435 Killingsworth St

      Individual retail properties • 1,188 SF
      1435 Killingsworth St, Portland, OR 97217
      View Details
    • Value Estimation
      $2,205,000
      8,345 SF

      3000 Lombard St

      MEDICAL BUILDING • 8,345 SF
      3000 Lombard St, Portland, OR 97217-1244
      View Details
    • Value Estimation
      $3,025,000
      10,009 SF

      4920 Interstate Ave

      MEDICAL BUILDING • 10,009 SF
      4920 Interstate Ave, Portland, OR 97217-3653
      View Details
    • Value Estimation
      $915,000
      2,496 SF

      3332 Lombard St

      MEDICAL BUILDING • 2,496 SF
      3332 Lombard St, Portland, OR 97217-1258
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,054 SF

      Versatile Land Development Opportunity

      Buildings and land for sale in a rapidly transitioning area.
      5816 N Greeley Ave, Portland, OR 97217
      View Details
    • Contact for pricing

      Swan Island Industrial Park Location

      Located near Swan Island Industrial Park, close to I-5.
      5230 N Basin Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      3,520 SF

      Historic Firehouse Restaurant Opportunity

      Landmark Portland restaurant and building for sale in Woodlawn.
      711 NE Dekum St, Portland, OR 97217
      View Details
    • Contact for pricing
      2,760 SF

      Iconic Vegan Bar and Restaurant

      Established vegan bar and restaurant in Alberta Arts District.
      1011 NE Alberta St, Portland, OR 97217
      View Details
    • Contact for pricing

      Swan Island Industrial Opportunity

      Industrial property with office space and commercial kitchen for sale.
      5001 N Lagoon Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      1,188 SF

      Mixed-Use Retail/Office Condo For Sale

      Retail/office condo in mixed-use building with CM3 zoning.
      1435 N Killingsworth St, Portland, OR 97217
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Swan Island Industrial Facility For Rent

      Stand-alone industrial facility with yard space and heavy power.
      3838 N Ballast St, Portland, OR 97217
      View Details
    • Contact for pricing

      Swan Island District Retail Space

      1,973 SF retail space in Portland's Swan Island District.
      3246 N Lombard St, Portland, OR 97217
      View Details
    • $2,956 /Mo

      Professionally Managed Industrial Spaces

      Industrial spaces with office layouts, 3-phase power, and high ceilings.
      2511-2527 N Hayden Island Dr, Portland, OR 97217
      View Details
    • $22 SF/Yr

      Remodeled Medical Office Space Available

      Recently remodeled 1,973 SF medical office space in Swan Island.
      3246 North Lombard St, Portland, OR 97217
      View Details
    • Contact for pricing

      Dental/Medical Suite for Rent

      Plug-and-play dental/medical suite with parking and signage opportunities.
      3332 N Lombard St, Portland, OR 97217
      View Details
    • $12 SF/Yr

      Kenton Corner Flex Space Available

      High-visibility flex, retail, or office space in Kenton neighborhood.
      2056 N Lombard St, Portland, OR 97217
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3246 Lombard St
    Portland, OR 97217
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3246 Lombard St, Portland, OR, 97217
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!