6117 Lombard StPortland, OR 97203

Property Details for 6117 Lombard St

Year built

1973

Lot size

0.23 AC

Property size (Sq ft)

2,256 SF

Zone code

CG

Property type

Retail properties

Property subtype

Retail space

APN

1N1E07AC 13400

APU

1N1E07AC13400

Description

This exceptional retail property at 6117 N Lombard Street in Portland, Oregon, presents a unique investment opportunity. The freestanding building boasts 2,256 square feet situated on a sizable 10,000 square foot corner lot, offering excellent visibility and accessibility. Previously operating as a convenience store and restaurant, the property is currently vacant, providing a blank canvas for a variety of uses. The CM2 zoning designation unlocks significant redevelopment potential, allowing for a wide range of commercial ventures. The location is highly desirable, benefiting from its prominent position across from a New Seasons Market on North Lombard Street, ensuring high foot traffic and strong brand recognition. The corner lot also presents a valuable pylon signage opportunity for enhanced marketing and visibility. The asking price for this property is $699,000. This is a rare chance to acquire a well-located, versatile commercial space in a thriving Portland neighborhood with significant upside potential. The property's size and zoning make it suitable for a variety of retail concepts, restaurants, or even redevelopment projects. Don't miss this chance to secure a prime location in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $910,860

  6.5%

  $840,794

  7%

  $780,738

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,094,840

  Geo Method

  $1,094,840

• Alternative Use

  Use

  Valuation

  Residential

  $709,241

  Hospitality

  $649,661

  Educational

  $540,511

  Medical

  $559,100

  Retail

  $840,794

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.5849

Longitude

-122.73

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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