Renovated Mixed-Use Building,
For Sale
$1,100,000
1005 N Main Ave, Gresham, OR 97030
Fully renovated mixed-use building in downtown Gresham with rental income.
Property Size5,728 SF
Lot Size0.34 Acres
Price / SF$192.04
Days on Market166
Property Features for 1005 N Main Ave
General Information
Standard status
Active
Size
5,728 SF
Lot size
0.34 Acres
Building Details
Year Built
1923
Listing Agency:
Kohler Meyers O'Halloran Inc.
Listed By:
Suzanne O'Halloran, Darren O'Halloran
(503) 661-8000
Source:
Wisser
Added: Mar 26
Changed: Sep 6
Last Checked: Sep 6 at 11:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kohler Meyers O'Halloran Inc.
Investment Insights
Based on property information with market context.
This is a fully renovated mixed-use building constructed in 1926, situated in downtown Gresham. The building has undergone extensive upgrades in 2023, including new roof, electrical, and HVAC systems, as well as a complete interior renovation. The property features a lot size of 15,000 square feet and a building size of 4,320 square feet. It generates a rental income of $7,500 per month. The property includes on-site parking and drive-thru access from Division Street and N. Main Avenue. The building is ADA compliant.
Key Highlights
- High Rental Income: $7500/month
- Fully Renovated: New roof, electrical, HVAC, and interior in 2023
- Prime Downtown Location: Gresham, with access on Division and N. Main Ave
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
$63,237
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
5.75%
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%
$1,264,740
$1.3M
Cap Rate 7%
$903,386
$903.4K
Cap Rate 9%
$702,633
$702.6K
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
$110.0K $19.20/SF
− Vacancy
−$8.8K −$1.54/SF
EGI
$101.2K $17.66/SF
− OpEx
−$37.9K −$6.62/SF
NOI
$63.2K $11.04/SF
Area
Gresham, OR
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,264,740
Cap Rate 7%
$903,386
Cap Rate 9%
$702,633
Alternative Uses
Best Use
Mixed Use
$903.4K
$790.5K – $1.05M
NOI $63,237 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
1,760
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully renovated mixed-use building in downtown Gresham with rental income.
Where is this mixed-use property 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: High Rental Income: $7500/month; Fully Renovated: **New roof, electrical, HVAC, and interior in 2023**; Prime Downtown Location: Gresham, with access on Division and N. Main Ave
