Single-Tenant Flex
New
For Sale
$2,592,000
1190 NE Division St, Gresham, OR 97030
The property is leased under an NNN structure, with a renewal option following the remaining term.
Property Size12,091 SF
Lot Size1.21 Acres
Price / SF$214.37
Days on Market6
Property Features for 1190 NE Division St
General Information
Standard status
Active
Size
12,091 SF
Lot size
1.21 Acres
Property subtype
Commercial
Zoning
Dem
Financials
Asking Price
$2,592,000
Cap Rate
7%
Site & Location
Neighborhood
Central City
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$24,407
Building Details
Building Size
12,091 SF
Year Built
1973
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Bradley King · License #201235429
(503) 313-8262
Source:
Duanejohnson
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 26 at 3:42AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A single-tenant flex property in Gresham combines a 12,091-square-foot building with 1.21 acres of land. Constructed in 1973, the asset is zoned Dem and is occupied under an NNN lease. The current term has 3 years remaining, with a 2-year renewal option.
Key Highlights
- 12,091 SF single‑tenant industrial/flex building
- 1.21‑acre site
- NNN lease with 3 years remaining and a 2‑year renewal option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,182
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,243,640
$2.2M
Cap Rate 7%
$1,602,600
$1.6M
Cap Rate 9%
$1,246,467
$1.2M
Market Conditions
NOI Build-Up for 12,091 SF
Gross rent
$188.6K $15.60/SF
− Vacancy
−$16.0K −$1.33/SF
EGI
$172.6K $14.27/SF
− OpEx
−$60.4K −$5.00/SF
NOI
$112.2K $9.28/SF
Area
Gresham, OR
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,243,640
Cap Rate 7%
$1,602,600
Cap Rate 9%
$1,246,467
Alternative Uses
Best Use
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,182 @ 7.0% cap · market cap 4.33%
Second Best
Industrial
$1.18M
$1.03M – $1.37M
NOI $82,495 @ 7.0% cap · market cap 3.18%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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 - The property is leased under an NNN structure, with a renewal option following the remaining term.
Where is this flex space located?
The property is located at 1190 NE Division St 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; 1.21‑acre site; NNN lease with 3 years remaining and a 2‑year renewal option
