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 Market323
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: Sep 3
Last Checked: Sep 4 at 8:45AM
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
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
$74,520
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
4.16%
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%
$1,490,400
$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
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
$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 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%
$1,490,400
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.
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 $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.
