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    The Largest CRE Database in the US with Over 1 Million Listings

    1721 SW BUTLER Rd Gresham, OR 97080

    View on Map
    New
    For Sale
    $875,000

    LAND - Gresham, OR

    Type:Single Family Residence
    Lot size:
    3.88 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 7 at 9:06 pm

    Property Features for 1721 SW BUTLER Rd

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    LDR
    Standard status
    Active
    APN
    R240586
    Lot size
    3.88 Acres

    Taxes and HOA fees

    Tax Description
    PARTITION PLAT 1999-73, LOT 2 INC PT IN ST
    Tax Annual Amount
    4106

    We can help!

    Listing Contact
    Brent Maxson

    Listing agent Brent Maxson

    Listing office Keller Williams PDX Central 919 NE 19th Ave Ste 100, Portland, OR

    Listing date Apr 6, 2026

    MLS# 477658964

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Gresham Land: Development Opportunity Awaits

    This 3.88-acre residential parcel presents a development opportunity. A new subdivision is nearing completion nearby, indicating momentum for new housing in the area. The existing home is owner-occupied, but the value lies in the land and its development possibilities. Preliminary concepts suggest the potential for a residential community, with room for multiple homes. A certified arborist tree inventory has been completed. Early discussions indicate utilities such as water and sewer may be extended from the north side of the property. Located along Butler Road, future development may include frontage improvements such as sidewalks. Depending on final engineering, grading and retaining solutions may be incorporated into a cohesive subdivision design. The surrounding area is experiencing growth, and the nearby new subdivision highlights the demand for new homes. Builders may envision a boutique subdivision, a cluster of new homes, or a luxury estate concept utilizing the full acreage. The existing residence provides flexibility for interim use while development plans are explored. This property offers scale, flexibility, and timing aligned with nearby development activity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Auto Repair Shop Hair Salon Big Box & Wholesale Store Gym & Fitness Center Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.398
    Latitude
    45.4693

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    FAQs

    What type of property is this?
    Residential land & home lot - 3.88-acre residential parcel ideal for future development.
    Where is this residential land & home lot located?
    The property is located at 1721 SW BUTLER Rd Gresham, OR.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: 3. 88‑acre residential parcel with development potential.; Located near a brand‑new subdivision, indicating strong demand for new housing.; Potential for multiple homes (buyer to verify with city).
    (503) 720-1931
    We can help!
    Listing Contact
    Brent Maxson
    Learn More
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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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