Gresham Development Opportunity For
For Sale
$1,790,000
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$265.19
Days on Market369
Property Features for 129 N MAIN
General Information
Standard status
Active
Size
6,750 SF
Lot size
0.28 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,453
Amenities
Central air
Central Air Cooling
Flat Roof
Forced Air Heating
On Site
On street
Building Details
Year Built
1916
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
BELA BARANY
(503) 504-0209
Source:
Corcoran
Added: Oct 17, 2025
Changed: Oct 19
Last Checked: Oct 19 at 6:40AM
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 EXP REALTY, LLC
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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
Estimated NOI and Cap Rate
NOI / Yr
$74,520
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,490,400
$1.5M
Cap Rate 7%
$1,064,571
$1.1M
Cap Rate 9%
$828,000
$828.0K
Market Conditions
NOI Build-Up for 6,750 SF
Gross rent
$129.6K $19.20/SF
− Vacancy
−$10.4K −$1.54/SF
EGI
$119.2K $17.66/SF
− OpEx
−$44.7K −$6.62/SF
NOI
$74.5K $11.04/SF
Area
Gresham, OR
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,490,400
Cap Rate 7%
$1,064,571
Cap Rate 9%
$828,000
Alternative Uses
Best Use
Mixed Use
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 $1,790,000.
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.
