Prime Corner Location in
1005 N MAIN Gresham, OR 97030
1005 N MAIN, Gresham, OR, 97030
$1,100,000
For Sale
$1,100,000
Fully renovated corner property with flexible use and ample parking.
Property Size5,728 SF
Lot Size0.35 Acres
Price / SF$192.04
Days on Market847
Property Features for 1005 N MAIN
General Information
- Standard status
- Active
- Size
- 5,728 SF
- Lot size
- 0.35 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1923
Listing agency
KOHLER MEYERS O'HALLORAN INC.
(503) 661-8000
Listed by
SUZANNE O'HALLORAN · License #820700012
Source
Corcoran
Added: Mar 27, 2024 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 5:40AM
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.
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.
Local Financial Insights For Retail
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 | $97.6k | $17.04 |
| − Vacancy | −$7.0k | −$1.23 |
| EGI | $90.6k | $15.81 |
| − OpEx | −$27.2k | −$4.74 |
| NOI | $63.4k | $11.07 |
5,728 SF · lease $17.04/SF/yr · vacancy 7.20% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
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.
