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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Retail space
8950 Lombard St, Portland, OR 97203-3004
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0682722
Property summary
AI-generated overview
This freestanding retail building presents a compelling investment opportunity in Portland's desirable St. Johns neighborhood. Located at 8950 N Lombard St, this 6,393 square foot property sits on a 0.33-acre lot and offers exceptional visibility with frontage on Lombard Street. Built in 1975, the building is zoned CM2 (Commercial Mixed Use 2), allowing for diverse commercial uses. Ample off-street parking is available, along with prominent monument and on-building signage opportunities. The property's strategic location provides easy access to Highway 30 and Interstate 5, ensuring convenient access to downtown Portland and surrounding areas. This vacant storefront is priced at $1,625,000, translating to $254.18 per square foot. A special lease incentive of $12 per square foot is available for the first year of a lease with a term of three years or longer. This property is ideal for businesses seeking a high-profile location in a thriving community. All information is deemed reliable but not guaranteed.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1975
Total area
6,222 SF
Lot
0.33 ac (14,400 SF)
Zoning code
CS
APN
1N1W01CD 10700
UPID
US71-0682722
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
-
Carquest Auto Parts - Baxter Auto Parts #02 Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$1.94M
Owner & transaction history
Mb Real Properties LLC · 21 yrs held
Mb Real Properties LLC
since 2005
6 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+36.8%
Auto repair, garage
$1.9M
+22.0%
Medical building
$1.9M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,560,000
Current use
RESTAURANT
$2,130,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,900,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$1,880,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$1,800,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,790,000
Change: +15% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,655,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.94M
Range $1.75M – $2.13M · ±10%
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
$312 / 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
$11,182
Tax year 2023
Assessed value
$421,990
Assessed 2023
Previous assessed
$409,700
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$656,490
Improvement market value
$1,288,670
Total market value
$1,945,160
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
1975
Heating
NONE
Stories
1
Total area
6,222 SF
Lot
0.33 ac (14,400 SF)
Zoning code
CS
APN
1N1W01CD 10700
UPID
US71-0682722
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
$1.6M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
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
1975
Heating
NONE
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Mb Real Properties LLC
Entity
Free & Clear · 21 yrs held
Mailing address
9440 N WHITAKER RD, PORTLAND, OR 97217-7748
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2016
—
Mb Real Properties LLC
—
Deed
related
$9,187,000 · Advantis Cu
Jun 12, 2013
—
Mb Real Properties LLC
—
Deed Of Trust
related
$2,555,000 · Wells Fargo Bank
Jan 4, 2005
—
Mb Real Properties LLC
Mb Properties
Grant Deed
related
—
—
—
Mb Real Properties LLC
—
Deed Of Trust
related
$7,868,000 · Advantis Cu
—
—
M B Properties
—
Deed Of Trust
related
$352,500 · Wells Fargo Bank
—
—
Mb Real Properties LLC
—
Deed Of Trust
related
$9,187,000 · Advantis Cu
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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