Gresham Development Opportunity For
For Sale
$2,000,000
129 N MAIN, Gresham, OR 97030
Prime downtown Gresham location with mixed-use development potential.
Property Size6,750 SF
Lot Size0.28 Acres
Price / SF$296.30
Days on Market290
Property Features for 129 N MAIN
General Information
Standard status
Active
Size
6,750 SF
Lot size
0.28 Acres
Property subtype
Commercial
Building Details
Year Built
1916
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
BELA BARANY
Source:
Corcoran
Added: Oct 17, 2025
Changed: Jul 10
Last Checked: Aug 2 at 8:35AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This property presents a development opportunity in a prime downtown Gresham location. It is zoned DCC (Downtown Commercial Core), a mixed-use district intended for higher-density development. Permitted uses include office, retail, and multi-family residential. The DCC district is designed to function as the city's commercial center, encouraging a vibrant and walkable downtown environment, and includes specific design standards for new construction. The Downtown Plan District Design Manual, Section 4.1100, designates Main Avenue as a "unique street". The property includes two tax lots: a 6,750-sf building on a 6,750-sf lot and a 5,000-sf parking lot. Examples of development potential are shown through three existing buildings in the same zoning, featuring street-level storefronts and three additional stories of residential/office opportunities above.
Key Highlights
- Prime downtown Gresham location offers high visibility and accessibility.
- DCC zoning allows for high‑density mixed‑use development.
- Development opportunity includes a 6,750‑sf building and a 5,000‑sf parking lot.
Financial Insights For Mixed Use
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 | $129.6k | $19.20 |
| − Vacancy | −$10.4k | −$1.54 |
| EGI | $119.2k | $17.66 |
| − OpEx | −$44.7k | −$6.62 |
| NOI | $74.5k | $11.04 |
6,750 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,973 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Prime downtown Gresham location with mixed-use development potential.
Where is this commercial land located?
The property is located at 129 N MAIN Gresham, OR.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime downtown Gresham location offers high visibility and accessibility.; DCC zoning allows for high‑density mixed‑use development.; Development opportunity includes a 6,750‑sf building and a 5,000‑sf parking lot.
