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

    6340 Lombard St, Unit 6412 Portland, OR 97218-2928

    • Retail space
    • 2,380 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $1,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0402044
    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

    • NAVista Market / Grocery & Convenience Store / Food Market

    Property Details for 6340 Lombard St

    Year built
    1987
    Lot size
    0.90 lot acres
    Property size
    2,380 SF
    Zone code
    CGH
    Property type
    Retail space
    APN
    1N2E17CC 02000
    APU
    1N2E17CC02000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,023,000
      Market price range: $422k - $1.02M
      AI Estimate
      $1,023,000
      Market price range: $422k - $1.02M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $715,000
      Current use
      AUTO REPAIR, GARAGE
      $725,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $720,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $690,000
      Change: -4% Conversion: Easy
      COMMERCIAL (GENERAL)
      $685,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.597
    Latitude
    45.5654
    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
    $18,079
    $0.00
    $0.00
    $682,250
    -
    $772,430
    $1,147,950
    $1,920,380

    Comparable in this City

    • Value Estimation
      $760,000
      4,280 SF

      5430 42nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,280 SF
      5430 42nd Ave, Portland, OR 97218-1512
      View Details
    • Value Estimation
      $13,330,000
      47,809 SF

      5850 Prescott St

      RETAIL STORES (PERSONAL SERVICES) • 47,809 SF
      5850 Prescott St, Portland, OR 97218-2232
      View Details
    • Value Estimation
      $690,000
      2,200 SF

      4516 42nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      4516 42nd Ave, Portland, OR 97218-1604
      View Details
    • Value Estimation
      $955,000
      2,400 SF

      4515 42nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      4515 42nd Ave, Portland, OR 97218-1603
      View Details
    • Value Estimation
      $665,000
      3,750 SF

      5800 Lombard St

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      5800 Lombard St, Portland, OR 97218-2363
      View Details
    • Value Estimation
      $1,550,000
      3,600 SF

      4721 Columbia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      4721 Columbia Blvd, Portland, OR 97218-1221
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Building with Drive-Thru

      Retail building with drive-thru, corner location, close to transportation.
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      Church Building with Commercial Potential

      Church building with food pantry and development potential for sale.
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      Portland Multifamily Investment Opportunity

      Seven-unit property in Portland's Cully neighborhood with recent upgrades.
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      Approved Permits Ready to Build

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    Similar Nearby for Lease

    • $8,490 /Mo

      Warehouse with Retail Potential

      Warehouse space suitable for retail use, available September 1st, 2024.
      5833 NE Lombard St, Portland, OR 97218
      View Details
    • Contact for pricing
      107,936 SF

      Portland Freestanding Building For Lease

      Large Office/Warehouse Space Available in Portland, OR
      7737 Lombard St, Portland, OR 97218
      View Details
    • Contact for pricing

      Columbia Corridor Clear Span Warehouse

      Warehouse space available in the Columbia Corridor.
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      View Details
    • Contact for pricing
      2,576 SF

      Portland Flex Space Near Airport

      Flex space available near PDX Airport and major freeways.
      6600 NE 78Th Ct, Portland, OR 97218
      View Details
    • Contact for pricing
      13 SF

      Industrial Outdoor Storage Near Airport

      13.41 AC industrial land for lease near Portland Airport.
      Portland, OR 97218
      View Details
    • Contact for pricing

      Industrial Land for Lease

      Large, secure 13.41-acre industrial land near Portland Airport.
      7800 NE Killingsworth St, Portland, OR 97218
      View Details
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    Portland, OR 97218-2928
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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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