Mixed-Use Property with
For Sale
$1,790,000
129 N MAIN Ave, Gresham, OR 97030
CommercialSale, Gresham, OR
Property Size6,750 SF
Lot Size0.28 Acres
Price / SF$265.19
Days on Market314
Property Features for 129 N MAIN Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DCC
View
City
Directions
Gresham Powel Blvd, North on N Main Avenue to corner property with NW 2nd Street
Subdivision
_144
Standard status
Active
APN
R217823
Size
6,750 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
METZGERS ADD, BLOCK 2, LOT 6, N 1/2 OF LOT 7
Tax Annual Amount
14453
Legal Description
METZGERS ADD, BLOCK 2, LOT 6, N 1/2 OF LOT 7
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1916
Floors in Building
1
Roof type
Flat
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Bela Barany
(503) 504-0209
Added: Oct 16, 2025
Changed: Aug 25
Last Checked: Aug 25 at 6:06AM
MLS# 571411867
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property comprises two tax lots in downtown Gresham, including a 6,750-square-foot building on a 6,750-square-foot lot and a separate 5,000-square-foot parking lot. The existing structure was built in 1916 and features forced-air heating, central air conditioning, and a flat roof.
Zoned DCC, or Downtown Commercial Core, the property falls within a district intended to accommodate office, retail, and multifamily residential uses. The site is at 129 N Main Avenue, where Main Avenue is designated a “unique street” under the Downtown Plan District Design Manual. The zoning framework includes design standards for new construction and is intended to support a walkable downtown commercial environment.
Zoned DCC, or Downtown Commercial Core, the property falls within a district intended to accommodate office, retail, and multifamily residential uses. The site is at 129 N Main Avenue, where Main Avenue is designated a “unique street” under the Downtown Plan District Design Manual. The zoning framework includes design standards for new construction and is intended to support a walkable downtown commercial environment.
Key Highlights
- 6,750‑square‑foot building on a 6,750‑square‑foot lot
- Separate 5,000‑square‑foot parking lot included
- DCC zoning supports office, retail, and multifamily residential uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,042
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,760,840
$1.8M
Cap Rate 7%
$1,257,743
$1.3M
Cap Rate 9%
$978,244
$978.2K
Market Conditions
NOI Build-Up for 6,750 SF
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.
Gross rent
$125.6K $18.60/SF
− Vacancy
−$8.2K −$1.21/SF
EGI
$117.4K $17.39/SF
− OpEx
−$29.3K −$4.35/SF
NOI
$88.0K $13.04/SF
Area
Gresham, OR
Vacancy
6.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,760,840
Cap Rate 7%
$1,257,743
Cap Rate 9%
$978,244
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,042 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$1.07M
$934.0K – $1.25M
NOI $74,717 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,973 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
124k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Apparel 36%
Ross Dress for Less
Apparel
43,687 visits/mo
0.3 miles
Dollar Tree
Shops & Services
24,622 visits/mo
0.3 miles
PetSmart
Shops & Services
20,554 visits/mo
0.2 miles
Plaid Pantry
Shops & Services
8,676 visits/mo
0.4 miles
Chevron
Shops & Services
8,104 visits/mo
0.1 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - DCC-zoned property with an existing building and separate parking lot.
Where is this mixed-use property located?
The property is located at 129 N MAIN Ave Gresham, OR.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 6,750‑square‑foot building on a 6,750‑square‑foot lot; Separate 5,000‑square‑foot parking lot included; DCC zoning supports office, retail, and multifamily residential uses
