Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2233 Lombard St Portland, OR 97217-5737

    • Investment properties
    • 1,604 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0503847
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Graphic Communications Union / Advocacy Group

    Property Details for 2233 Lombard St

    Year built
    1943
    Lot size
    0.11 lot acres
    Property size
    1,604 SF
    Zone code
    R1D
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1N1E09DC 19900
    APU
    1N1E09DC19900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $361k - $912k
      AI Estimate
      $629,000
      Market price range: $361k - $912k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.69
    Latitude
    45.5773
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,306
    $0.00
    $0.00
    $162,510
    -
    $440,480
    $177,090
    $617,570

    Comparable in this City

    • Value Estimation by Request
      1,750 SF

      213 Killingsworth St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,750 SF
      213 Killingsworth St, Portland, OR 97217-2436
      View Details
    • Value Estimation
      $890,000
      2,608 SF

      4204 Massachusetts Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,608 SF
      4204 Massachusetts Ave, Portland, OR 97217-3233
      View Details
    • Value Estimation
      $590,000
      1,450 SF

      10890 Denver Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,450 SF
      10890 Denver Ave, Portland, OR 97217
      View Details
    • Value Estimation
      $555,000
      1,172 SF

      2034 Killingsworth St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,172 SF
      2034 Killingsworth St, Portland, OR 97217-4439
      View Details
    • Value Estimation
      $560,000
      2,158 SF

      3549 Lombard St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,158 SF
      3549 Lombard St, Portland, OR 97217-5901
      View Details
    • Value Estimation
      $810,000
      1,824 SF

      5416 Maryland Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,824 SF
      5416 Maryland Ave, Portland, OR 97217-4548
      View Details

    Similar Nearby for Sale

    • $895,000
      2,168 SF

      Remodeled Building in Arbor Lodge

      Refreshed building in vibrant NoPo neighborhood with live-work potential.
      5819 N Greeley Ave, Portland, OR 97217
      View Details
    • $568,500
      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
    • $1,150,000
      8,260 SF

      Portland Corner Lot Religious Property

      8,260 SF, Owner/User or Investment Opportunity
      4630 Maryland Ave, Portland, OR 97217
      View Details
    • $1,899,500
      6,400 SF

      Mixed-Use Building in SE Portland

      6,400 SF mixed-use building on corner lot near I5.
      1032 N Killingsworth St, Portland, OR 97217
      View Details
    • $2,499,900
      5,476 SF

      Portland 6-Plex Investment Opportunity

      Luxury 6-unit apartment building, prime location
      4320 Gantenbein Ave, Portland, OR 97217
      View Details
    • $3,849,900
      10,606 SF

      1535 Alberta St

      Multifamily properties • 10,606 SF
      1535 Alberta St, Portland, OR 97217
      View Details

    Similar Nearby for Lease

    • $975 /Mo
      8,747 SF

      Portland Live/Work Office Suites

      Live/work office suites in Portland with MAX Light Rail access.
      8440 N Interstate Ave, Portland, OR 97217
      View Details
    • $14 SF/Yr
      11,429 SF

      North Portland Retail Freestanding

      Prime North Portland retail space available.
      1622 Lombard St, Portland, OR 97217
      View Details
    • $26 SF/Yr
      1,400 SF

      Portland Retail Space for Lease

      ±1,400 SF Retail/Restaurant Space, Great Location
      7409 Interstate Ave, Portland, OR 97217
      View Details
    • Contact for pricing
      743,227 SF

      Jantzen Beach Center Retail Space

      Portland Retail Center: Multiple Spaces Available
      0 Center Ave, Portland, OR 97217
      View Details
    • $26 SF/Yr
      1,973 SF

      Lombard St Medical Office Space

      Portland medical office, 1973 SF. Available September 1st.
      3246 Lombard St, Portland, OR 97217
      View Details
    • Contact for pricing
      158,820 SF

      Portland Industrial Manufacturing Space

      158,820 SF Multi-Tenant Warehouse
      5230 Basin Ave, 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.
    2233 Lombard St
    Portland, OR 97217-5737
    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

    Google sign-in failed. Please try again or use another login method.