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

    8641 Lombard St Portland, OR 97203-3730

    • Retail space
    • 5,393 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    May 15, 2025
    $1,310,000
    Value Estimations
    $1,330,000
    Show details
    Cap Rate Potential
    5.5%
    Retail space
    Location Intelligence
    Property ID
    US71-0050772
    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

    • La Paloma / (Bike/Boat/Book/etc) Store

    Property Details for 8641 Lombard St

    Year built
    1912
    Lot size
    0.10 lot acres
    Property size
    5,393 SF
    Zone code
    CS
    Property type
    Retail space
    APN
    1N1W12BA 06900
    APU
    1N1W12BA06900

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,140,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,050,000
      6.5%
      $965,000
      7%
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,626,000
      Market price range: $830k - $1.90M
      AI Estimate
      $1,626,000
      Market price range: $830k - $1.90M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.755
    Latitude
    45.5906
    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
    $9,379
    $0.00
    $0.00
    $353,940
    -
    $448,000
    $835,080
    $1,283,080

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      7740 Wi N Lombard St

      RETAIL STORES (PERSONAL SERVICES) • 0.13 Acres
      7740 Wi N Lombard St, Portland, OR 97203
      View Details
    • Value Estimation
      $1,525,000
      5,335 SF

      6313 Lombard St

      RETAIL STORES (PERSONAL SERVICES) • 5,335 SF
      6313 Lombard St, Portland, OR 97203-4161
      View Details
    • Value Estimation
      $1,220,000
      7,291 SF

      4926 Lombard St, Unit 4940

      RETAIL STORES (PERSONAL SERVICES) • 7,291 SF
      4926 Lombard St, Portland, OR 97203-4482
      View Details
    • Value Estimation by Request
      1,115 SF

      8900 Wall Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,115 SF
      8900 Wall Ave, Portland, OR 97203-2626
      View Details
    • Value Estimation by Request
      336 SF

      7315 Alta Ave

      RETAIL STORES (PERSONAL SERVICES) • 336 SF
      7315 Alta Ave, Portland, OR 97203-4807
      View Details
    • Value Estimation
      $1,645,000
      4,682 SF

      8109 Fessenden St

      RETAIL STORES (PERSONAL SERVICES) • 4,682 SF
      8109 Fessenden St, Portland, OR 97203-1622
      View Details

    Similar Nearby for Sale

    • $3,600,000
      12,968 SF

      St. Johns Mixed-Use Investment

      Mixed-use property in prime St. Johns location with strong income.
      8737 N Lombard St, Portland, OR 97203
      View Details
    • $1,800,000
      8,000 SF

      Lombard St Mixed-Use Investment

      Portland, OR: 8,000 SF, Dual Buildings
      8416 Lombard St, Portland, OR 97203
      View Details
    • $699,000
      2,256 SF

      Retail Property with Redevelopment Potential

      Former convenience store with redevelopment opportunities in Portland, Oregon.
      6117 N Lombard St, Portland, OR 97203
      View Details
    • $1,475,000
      3,440 SF

      Turnkey Restaurant in University Park

      Restored restaurant and commercial kitchen in North Portland.
      5003 N Lombard St, Portland, OR 97203
      View Details
    • $1,595,000
      3,440 SF

      Portland Restaurant Investment Opportunity

      High-Cap Rate, Fully Leased, Two Tenants
      5003 Lombard St, Portland, OR 97203
      View Details
    • $269,000
      935 SF

      St. John's Townhome-Style Condo

      2008 townhome-style condo near Cathedral Park and Willamette River.
      8641 N Crawford St, Portland, OR 97203
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      761 SF

      Restaurant Space in St. Johns

      Second generation pizza restaurant space available in St. Johns.
      7314 N Burr Ave, Portland, OR 97203
      View Details
    • Contact for pricing
      1,319 SF

      Retail Space in Portland, OR

      Retail space available with high traffic volume and easy access.
      7428 N Charleston Ave, Portland, OR 97203
      View Details
    • $28 SF/Yr
      1,040 SF

      Retail Space in PDX Airport

      Retail space in high-traffic PDX airport district.
      4705 NE Columbia Blvd, Portland, OR 97203
      View Details
    • Contact for pricing
      17,800 SF

      St. Johns Retail/Office Space

      Retail/office space in St. Johns with high ceilings.
      7428 N Charleston Ave, Portland, OR 97203
      View Details
    • Contact for pricing

      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
      10,500 SF

      Creative Space in Historic Building

      Creative office, studio, and maker space in renovated historic building.
      6635 N Baltimore Ave, Portland, OR 97203
      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.
    8641 Lombard St
    Portland, OR 97203-3730
    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.