Prime Corner Location in
For Sale
$1,100,000
1005 N MAIN, Gresham, OR 97030
Fully renovated corner property with flexible use and ample parking.
Property Size5,728 SF
Lot Size0.35 Acres
Price / SF$192.04
Days on Market938
Property Features for 1005 N MAIN
General Information
Standard status
Active
Size
5,728 SF
Lot size
0.35 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,027
Amenities
Central air
Central Air Cooling
Composition Roof
Forced Air Heating
On Site
Paved
Building Details
Year Built
1923
Listing Agency:
KOHLER MEYERS O'HALLORAN INC.
(503) 661-8000
Listed By:
SUZANNE O'HALLORAN · License #820700012
(503) 667-0850
Source:
Corcoran
Added: Mar 27, 2024
Changed: Oct 19
Last Checked: Oct 19 at 7:05AM
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.
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Investment Insights
Based on property information with market context.
Located in the Historic Downtown Gresham Corridor, this corner property offers access from both Division and N. Main, across from Gresham High School. The building was fully renovated in 2023 and provides flexibility of use. The site is suitable for a restaurant and/or drive-thru. The property also features an attractive office interior for an owner/user. A double lot provides 24 on-site parking spaces. The property has flexibility in current shorter term leases and includes a corner monument sign. The building size is 5,728 square feet.
Key Highlights
- Prime corner location across from Gresham High School with access from two streets.
- Fully renovated in 2023.
- Ample 24 on‑site parking spaces on a double lot.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,404
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,268,080
$1.3M
Cap Rate 7%
$905,771
$905.8K
Cap Rate 9%
$704,489
$704.5K
Market Conditions
NOI Build-Up for 5,728 SF
Gross rent
$97.6K $17.04/SF
− Vacancy
−$7.0K −$1.23/SF
EGI
$90.6K $15.81/SF
− OpEx
−$27.2K −$4.74/SF
NOI
$63.4K $11.07/SF
Area
Gresham, OR
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,268,080
Cap Rate 7%
$905,771
Cap Rate 9%
$704,489
Alternative Uses
Best Use
Retail
$905.8K
$792.6K – $1.06M
NOI $63,404 @ 7.0% cap · market cap 5.76%
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valvoline Instant Oil Change
Shops & Services
1,804 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Storefront property - Fully renovated corner property with flexible use and ample parking.
Where is this storefront property located?
The property is located at 1005 N MAIN 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: Prime corner location across from Gresham High School with access from two streets.; Fully renovated in 2023.; Ample 24 on‑site parking spaces on a double lot.
