2714 Lombard StPortland, OR 97217

This exceptional investment opportunity presents the fee simple ownership of a Chase Bank branch located at 2714 N Lombard St, Portland, OR 97217. The property, a single-story, 2,940 square foot building on a 0.24-acre lot, is situated in the Arbor Lodge neighborhood of North Portland, enjoying high visibility on N. Lombard Street (US 30 Bypass), less than a mile from I-5. Built in 1958 and renovated in 2008, the building is zoned CM2. The property is currently 100% occupied under a Net Lease (NNN) agreement with Chase Bank, a corporate guaranteed tenant, with a remaining lease term of approximately 3.8 years. The lease commenced August 26, 2003, and includes a 5-year option with a fixed 10% rental increase. The current Net Operating Income (NOI) is $54,450, with a pro-forma NOI of $59,895, yielding a current cap rate of 5.76% and a pro-forma cap rate of 6.34%. The asking price is $945,000, translating to a price per square foot of $321.43. This location boasts an average of $157 million in annual deposits. N. Lombard Street, a main thoroughfare, sees over 21,000 vehicles per day. Recent significant improvements to N. Lombard Street totaling over $16 million enhance safety and travel times. This presents a stable, income-producing asset with a long-term tenant history.