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Property profile & analytics
OFF-MARKET
Estimated value
$1,330,000
Retail space
8641 Lombard St Portland, OR 97203-3730
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-0050772
Property summary
AI-generated overview
This exceptional commercial property, originally a silent cinema, presents a unique opportunity in Portland's vibrant St. Johns neighborhood. Located at 8641 N Lombard St, 97203, this mixed-use building offers flexible space ideal for creative or executive offices, or retail use. The main level boasts 2,200 to 5,000 square feet of adaptable space, perfect for a variety of businesses. Benefit from the building's rich history and prime location within the historic downtown district, surrounded by thriving businesses including clothing boutiques, coffee shops, a cinema, and more. The property features multiple tenancies and offers additional basement space for storage, providing ample room for expansion or inventory. While there are no elevators, the main level's accessibility makes it a convenient and attractive option. This is a chance to establish your business in a thriving community with a unique and character-filled building. The total usable space on the main floor exceeds 5,000 square feet. This property is perfect for businesses seeking a blend of history, character, and modern functionality in a bustling Portland neighborhood.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1912
Total area
5,393 SF
Lot
0.1 ac (4,480 SF)
Zoning code
CS
APN
1N1W12BA 06900
UPID
US71-0050772
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
La Paloma (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$965k
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.33M
Owner & transaction history
Lombard 8641 LLC · 1 yrs held
Lombard 8641 LLC
since 2025
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+36.8%
Auto repair, garage
$1.6M
+22.0%
Medical building
$1.6M
+20.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,140,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,050,000
6.5%
$965,000
7%
$900,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,350,000
Current use
RESTAURANT
$1,845,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,645,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$1,630,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$1,560,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,555,000
Change: +15% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±10% · vs last sale $1.31M (May 15 2025)
Last sale anchor
$1.31M
May 15 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$247 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,379
Tax year 2023
Assessed value
$353,940
Assessed 2023
Previous assessed
$343,640
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$448,000
Improvement market value
$835,080
Total market value
$1,283,080
Applied tax rate
710.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1912
Heating
NONE
Stories
1
Units
1
Total area
5,393 SF
Lot
0.1 ac (4,480 SF)
Zoning code
CS
APN
1N1W12BA 06900
UPID
US71-0050772
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Stories
1
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Lombard 8641 LLC
Entity
Mailing address
8018 N OSWEGO AVE, PORTLAND, OR 97203-3138
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2025
$1,310,000
Lombard 8641 LLC
Simer Kurczewski LLC
Warranty Deed
$1,348,945 · Craft3
Jun 24, 2022
$1,250,000
Simer Kurczewski LLC
Jing Chen
Warranty Deed
$1,125,000 · Enterprise Bank & Trust
Mar 27, 2015
$835,000
Jing Chen
Light Through Water LLC
Warranty Deed
$711,500 · Wells Fargo Bank NA
Jun 11, 2007
$825,000
Light Through Water LLC
Hazelton LLC
Warranty Deed
$506,030 · West Coast Bank
Jan 30, 2004
$280,000
Hazleton LLC
Lombard Street Investors LLC
Grant Deed
$228,094 · Pinnacle Bank
Nov 14, 2001
—
Lombard Street Investors LLC
Foster,michael
Quit Claim Deed
related
$250,000 · Albina Community Bank
Nov 14, 2001
$186,730
Michael Foster
Dicarlo,raymond
Grant Deed
—
May 15, 1991
$57,000
Raymond Dicarlo
Gittings,gary G
Grant Deed
$25,000 · Goodwill Ind Co
—
—
Light Through Water LLC
—
Deed Of Trust
related
$55,775 · Patten Katharine T M Tr (pt)
—
—
Hazelton LLC
—
Deed Of Trust
related
$40,000 · Portland Development Commissio
—
—
Hazelton LLC
—
Deed Of Trust
related
$385,500 · Pinnacle Bank
—
—
Hazelton LLC
—
Deed Of Trust
related
$442,000 · Pinnacle Bank Or
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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