Renovated Office
For Sale
$1,100,000
1005 N MAIN Ave, Gresham, OR 97030
CommercialSale, Gresham, OR
Property Size5,728 SF
Lot Size0.35 Acres
Price / SF$192.04
Days on Market1121
Property Features for 1005 N MAIN Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
DCC
Directions
Burnside or Division to N. Main Ave. Corner of Main and Divsion
Subdivision
_144
Standard status
Active
APN
R253468
Size
5,728 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Description
REGNERS ADD, BLOCK 5, LOT 1, LOT 2 EXC PT IN HWY
Tax Annual Amount
6726
Legal Description
REGNERS ADD, BLOCK 5, LOT 1, LOT 2 EXC PT IN HWY
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
corner monument sign
Building Details
Year built
1923
Floors in Building
2
Building materials
CementSiding, Concrete, FullBasement
Roof type
Composition
Listing Agency:
Kohler Meyers O'Halloran Inc.
(503) 661-8000
Listed By:
Suzanne O'Halloran · License #820700012
(503) 661-8000
Added: Aug 7, 2023
Changed: Aug 25
Last Checked: Aug 31 at 12:06AM
MLS# 23560222
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.
Investment Insights
Based on property information with market context.
This 5,728-square-foot office building occupies a 0.35-acre double lot and received a full renovation in 2023. The property includes an attractive office interior, full basement, forced-air heating, central air, composition roofing, concrete and cement siding construction, and a corner monument sign. Built in 1923, it is zoned DCC and offers flexibility for an owner-user or continued occupancy under shorter-term leases.
Access is available from both Division and N. Main, with the site positioned across from Gresham High School and within the Historic Downtown Gresham Corridor. The property provides 24 on-site parking spaces and has been identified for potential restaurant or drive-through use in addition to office occupancy.
Access is available from both Division and N. Main, with the site positioned across from Gresham High School and within the Historic Downtown Gresham Corridor. The property provides 24 on-site parking spaces and has been identified for potential restaurant or drive-through use in addition to office occupancy.
Key Highlights
- 5,728 SF office building on a 0.35‑acre double lot
- Fully renovated in 2023 with office interior improvements
- 24 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,712
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,494,240
$1.5M
Cap Rate 7%
$1,067,314
$1.1M
Cap Rate 9%
$830,133
$830.1K
Market Conditions
NOI Build-Up for 5,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.5K $18.60/SF
− Vacancy
−$6.9K −$1.21/SF
EGI
$99.6K $17.39/SF
− OpEx
−$24.9K −$4.35/SF
NOI
$74.7K $13.04/SF
Area
Gresham, OR
Vacancy
6.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,494,240
Cap Rate 7%
$1,067,314
Cap Rate 9%
$830,133
Alternative Uses
Best Use
Specialty Retail
$1.07M
$933.9K – $1.25M
NOI $74,712 @ 7.0% cap · market cap 6.79%
Second Best
Office B
$969.2K
$848.0K – $1.13M
NOI $67,842 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,625 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated commercial property with flexible office configuration, corner access, on-site parking, and potential for restaurant or drive-through use.
Where is this office building located?
The property is located at 1005 N MAIN Ave Gresham, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,728 SF office building on a 0.35‑acre double lot; Fully renovated in 2023 with office interior improvements; 24 on‑site parking spaces
