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 Size4,224 SF
Lot Size0.34 Acres
Price / SF$192.04
Days on Market212
Property Features for 1005 N MAIN AVE
General Information
Standard status
Active
Size
4,224 SF
Total Parking Spaces
24
Lot size
0.34 Acres
Property subtype
Commercial
Zoning
DCC
Taxes and HOA fees
Annual Taxes
$7,026
Amenities
Gas
PublicWater
24.0
0.35
SecuritySystem,SmokeDetector
OnSite,Paved
Paved
15,000
4224.0
1
Building Details
Building Size
4,224 SF
Year Built
1923
Buildings
1
Stories
2
Listing Agency:
RE/MAX Prime
(503) 716-8644
Listed By:
Sheng Fang
(541) 745-8566
Source:
Premierepropertygroup
Added: Mar 26
Changed: Oct 21
Last Checked: Oct 20 at 6:26PM
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 RE/MAX Prime
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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 / Yr
$63,237
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
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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
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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
