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    6183 N Lombard St Portland, OR 97203
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    Property profile & analytics

    6183 N Lombard St Portland, OR 97203

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    • Commercial land
    • 4,123 SF
    • 0.22 lot acres
    For Sale
    $975,000
    View Listing →
    Mixed-Use Development Opportunity For Sale
    $975,000
    26,403 SF

    Mixed-Use Development Opportunity

    Land for mixed-use development with multifamily and retail potential.

    6183 N Lombard St, Portland, OR 97203
    View Listing
    Property ID
    US71-1014226
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 6183 N Lombard St

    Year built
    1944
    Lot size
    0.22 lot acres
    Property size
    4,123 SF
    Zone code
    CS
    Property type
    Commercial land
    APN
    1N1E07AC 13300
    APU
    1N1E07AC13300

    Description

    This exceptional 9,799 square foot (0.225-acre) lot, located at 6183 N Lombard St in Portland, Oregon's desirable St. Johns neighborhood (zip code 97203), presents a unique opportunity for multifamily development. Zoned CM2 Commercial/Mixed Use, this permit-ready site offers plans for a four-story building encompassing 46 residential units – a mix of studios, one-bedroom, two-bedroom, and one-bedroom work/live units. The total multifamily space is 25,603 square feet, complemented by an additional 800 square feet of retail space. The development plans include desirable amenities such as secure parking, bike storage, and a common area patio. This property is situated in a LIHTC Qualified Census Tract (QCT). A complete set of building permits is available at a discounted price. Note that an adjacent corner property at 6117 N Lombard St is also available for purchase (sold separately). The asking price for this prime development opportunity is $975,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $732,000
      Market price range: $732k - $1.78M
      AI Estimate
      $732,000
      Market price range: $732k - $1.78M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,185,000
      Current use
      OFFICE BUILDING
      $1,190,000
      Change: +0% Conversion: Easy
      RETAIL STORES
      $1,030,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.73
    Latitude
    45.585
    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
    $6,265
    $0.00
    $0.00
    $236,430
    -
    $979,900
    $0.00
    $979,900

    Comparable in this City

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    Similar Nearby for Sale

    • Contact for pricing

      St. Johns Corner Lot

      5,200 SF corner lot in St. Johns.
      8028 N Lombard Way, Portland, OR 97203
      View Details
    • New
      $200,000
      0.11 Acres

      Vacant Land in Portland, Oregon

      Mixed-use vacant land parcel available in Portland.
      8209 N Fessenden St, Portland, OR 97203
      View Details
    • $975,000

      Mixed-Use Development Opportunity

      Land for mixed-use development with multifamily and retail potential.
      6183 N Lombard St, Portland, OR 97203
      View Details
    • $975,000

      Permit Ready Multifamily Development Site

      Permit-ready multifamily development site with retail space in Portland.
      6183 N Lombard St, Portland, OR 97203
      View Details
    • Contact for pricing

      Portland Mixed-Use Development Opportunity

      4.46-acre site near St. Johns neighborhood with river views.
      8524 N Crawford St, Portland, OR 97203
      View Details
    • New
      $59,900
      0.05 Acres

      Vacant Land in St. Johns

      Infill lot with RM2 zoning near parks and transit.
      N Smith St, Portland, OR 97203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Land with Rail Service

      Large, rail-served industrial land available for lease in Portland.
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      4,850 SF

      North Portland Land For Rent

      Land available for rent in North Portland.
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      20,000 SF

      Warehouse with Rail Doors

      20,000 SF warehouse with excellent I-5 access.
      8545-8611 N Columbia Blvd, Portland, OR 97203
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      11,825 SF

      Portland Warehouse with Fenced Yard

      Warehouse with fenced parking, upgrades, and convenient location.
      8638 N Crawford St, Portland, OR 97203
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      Creative Space with Commercial Kitchen

      Versatile space with kitchen, patio, and potential for various uses.
      7525 N Richmond Ave, Portland, OR 97203
      View Details
    • Contact for pricing
      33,937 SF

      Industrial Space with Fenced Yard

      Well-equipped industrial space featuring dock packages and fenced yard.
      6204-6210 N Marine Dr, Portland, OR 97203
      View Details
    View Listing
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    Portland, OR 97203
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    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
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