Flex Retail and Warehouse
For Sale
Contact for pricing
1831 E Powell Blvd, Gresham, OR 97080
Well-maintained flex building with open retail/warehouse layout, upgraded roof and HVAC, plus in-place billboard income.
Property Size9,800 SF
Lot Size1.13 Acres
Price / SF$234.69
Days on Market59
Property Features for 1831 E Powell Blvd
General Information
Standard status
Active
Size
9,800 SF
Total Parking Spaces
9
Lot size
1.13 Acres
Property subtype
Retail, Industrial
Zoning
MC
Investment Type
Owner/User
Site & Location
Traffic Count
23,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1967
Year Renovated
2022
Buildings
1
Units
1
Listing Agency:
Marcus & Millichap - Seattle
Listed By:
Clayton J. Brown · License #WA 123258
Source:
Crexi
Added: Jul 8
Changed: Aug 22
Last Checked: Sep 2 at 8:25PM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
This flex retail and warehouse building offers an open layout combining retail and warehouse space, suited for a variety of commercial uses. The property is currently vacant and has been well maintained, with upgrades over the past several years including a roof overlay and a new HVAC unit.
The building sits on a hard corner of E Powell Blvd/Hwy 26 and SE 1st Street, with adjacent access to SE Burnside Rd. Visibility is supported by a dedicated left turn lane and multiple points of ingress/egress. An in-place leased billboard sign provides ongoing income with a 5-year term and a renegotiation window at the end of 2026.
The site totals 1.13 acres and is supported by flexible MC zoning permitting retail, service, office, and general commercial uses, with multi-family housing allowed as a secondary use.
The building sits on a hard corner of E Powell Blvd/Hwy 26 and SE 1st Street, with adjacent access to SE Burnside Rd. Visibility is supported by a dedicated left turn lane and multiple points of ingress/egress. An in-place leased billboard sign provides ongoing income with a 5-year term and a renegotiation window at the end of 2026.
The site totals 1.13 acres and is supported by flexible MC zoning permitting retail, service, office, and general commercial uses, with multi-family housing allowed as a secondary use.
Key Highlights
- 9,800 SF commercial building on 1.13 acres with open retail and warehouse layout
- Upgrades include roof overlay and a new HVAC unit; building has been well maintained
- Hard corner on E Powell Blvd/Hwy 26 (23,000+ VPD) and SE 1st St (3,000+ VPD), adjacent to SE Burnside Rd (36,000+ VPD)
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
$108,478
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
4.72%
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%
$2,169,560
$2.2M
Cap Rate 7%
$1,549,686
$1.5M
Cap Rate 9%
$1,205,311
$1.2M
Market Conditions
NOI Build-Up for 9,800 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
$167.0K $17.04/SF
− Vacancy
−$12.0K −$1.23/SF
EGI
$155.0K $15.81/SF
− OpEx
−$46.5K −$4.74/SF
NOI
$108.5K $11.07/SF
Area
Gresham, OR
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,169,560
Cap Rate 7%
$1,549,686
Cap Rate 9%
$1,205,311
Alternative Uses
Best Use
Retail
$1.55M
$1.36M – $1.81M
NOI $108,478 @ 7.0% cap · market cap 4.72%
Second Best
Flex RnD
$1.30M
$1.14M – $1.52M
NOI $90,925 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,761 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex building with open retail/warehouse layout, upgraded roof and HVAC, plus in-place billboard income.
Where is this flex space located?
The property is located at 1831 E Powell Blvd Gresham, OR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 9,800 SF commercial building on 1.13 acres with open retail and warehouse layout; Upgrades include roof overlay and a new HVAC unit; building has been well maintained; Hard corner on E Powell Blvd/Hwy 26 (23,000+ VPD) and SE 1st St (3,000+ VPD), adjacent to SE Burnside Rd (36,000+ VPD)
