Gresham Development Opportunity For
129 N MAIN Gresham, OR 97030
129 N MAIN, Gresham, OR, 97030
$2,000,000
For Sale
$2,000,000
Prime downtown Gresham location with mixed-use development potential.
Property Size6,750 SF
Lot Size0.28 Acres
Price / SF$296.30
Days on Market278
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 Updated: Jul 10 at 3:47 pm Checked: Jul 19 at 4:18 am
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.
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
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.
