Single-Tenant Industrial Flex
1190 NE DIVISION Gresham, OR 97030
For Sale
$2,592,000
12,091 SF industrial/flex building on a 1.21-acre lot with an NNN lease and 3 years remaining.
Property Size12,091 SF
Lot Size1.21 Acres
Price / SF$214.37
Days on Market8
Property Features for 1190 NE DIVISION
General Information
Standard status
Active
Size
12,091 SF
Lot size
1.21 Acres
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
KELLER WILLIAMS REALTY PORTLAND PREMIERE
(503) 597-2444
Listed By:
BRADLEY KING · License #201235429
Source:
Corcoran
Added: Jul 23
Changed: Jul 26
Last Checked: Jul 29 at 10:36AM
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 KELLER WILLIAMS REALTY PORTLAND PREMIERE
Investment Insights
Based on property information with market context.
This offering includes a 12,091 SF single-tenant industrial/flex building situated on a 1.21-acre lot. The property is leased on a NNN basis, providing a structured, in-place income profile.
The asset is located at 1190 NE Division in Gresham, Oregon. According to the public remarks, the lease has 3 years remaining, plus a 2-year renewal option.
The asset is located at 1190 NE Division in Gresham, Oregon. According to the public remarks, the lease has 3 years remaining, plus a 2-year renewal option.
Key Highlights
- 12,091 SF single‑tenant industrial/flex building on a 1.21‑acre lot
- NNN lease with 3 years remaining and a 2‑year renewal option
- Offered at $2,592,000 with a stated 7.0% cap rate
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $188.6k | $15.60 |
| − Vacancy | −$16.0k | −$1.33 |
| EGI | $172.6k | $14.27 |
| − OpEx | −$60.4k | −$5.00 |
| NOI | $112.2k | $9.28 |
12,091 SF · lease $15.60/SF/yr · vacancy 8.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,182 @ 7.0% cap · market cap 4.33%
Second Best
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,172 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,408 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Nicholas Restaurant - Lebanese & Mediterranean Cuisine — 323 N Main Ave, Gresham, OR 97030
Frequently Asked Questions
What type of property is this?
Flex space - 12,091 SF industrial/flex building on a 1.21-acre lot with an NNN lease and 3 years remaining.
Where is this flex space located?
The property is located at 1190 NE DIVISION Gresham, OR.
What is the asking price?
The asking price for this property is $2,592,000.
What are key features of this property?
This property features: 12,091 SF single‑tenant industrial/flex building on a 1.21‑acre lot; NNN lease with 3 years remaining and a 2‑year renewal option; Offered at $2,592,000 with a stated 7.0% cap rate
