Downtown Gresham Retail Investment
For Sale
Contact for pricing
211 NE Roberts Ave, Gresham, OR 97030
17,800 SF retail building in Gresham's historic downtown.
Property Size17,800 SF
Price / SF$168.54
Days on Market191
Property Features for 211 NE Roberts Ave
General Information
Standard status
Active
Size
17,800 SF
Class
C
Property subtype
Mixed Use, Retail, Multifamily, Office, Hospitality
Zoning
DCC
Investment Type
Owner/User
Building Details
Year Built
1958
Buildings
1
Stories
1
Units
1
Listing Agency:
Marcus & Millichap - Portland
(503) 200-2061
Listed By:
Joseph B Dabush · License ##201257377
Source:
Crexi
Added: Feb 1
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
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 - Portland
Investment Insights
Based on property information with market context.
Located at 211 NE Roberts Avenue in Gresham's historic downtown commercial corridor, this 17,800 SF freestanding retail building presents an investment opportunity. The property is strategically positioned in the heart of downtown Gresham, within walking distance of Gresham Central Transit Center and MAX Blue Line light rail service, providing direct access to downtown Portland and Portland International Airport. The current tenant is vacating in March, presenting an opportunity for owner-users seeking visibility and foot traffic in Gresham's primary downtown retail district, or for developers pursuing redevelopment. The location benefits from demographics including 112,818 residents in Gresham and an average household income of $93,451. The transit-oriented location with MAX Blue Line service connects to the entire Portland metropolitan region, and its position within Oregon's fourth-largest city offers connectivity via Interstate 84 and US Route 26 to major employment centers and recreational areas. Significant redevelopment potential exists through continued metro area growth with over 100,000 new residents since 2010 and positioning within the City of Gresham's One Gresham initiative targeting downtown revitalization and mixed-use development.
Key Highlights
- Strategic location in the heart of downtown Gresham, offering exceptional visibility and foot traffic.
- Significant redevelopment potential due to metro area growth and the City of Gresham's One Gresham initiative.
- Transit‑oriented location with MAX Blue Line access to downtown Portland and Portland International Airport.
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
$197,031
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
6.57%
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%
$3,940,620
$3.9M
Cap Rate 7%
$2,814,729
$2.8M
Cap Rate 9%
$2,189,233
$2.2M
Market Conditions
NOI Build-Up for 17,800 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
$303.3K $17.04/SF
− Vacancy
−$21.8K −$1.23/SF
EGI
$281.5K $15.81/SF
− OpEx
−$84.4K −$4.74/SF
NOI
$197.0K $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%
$3,940,620
Cap Rate 7%
$2,814,729
Cap Rate 9%
$2,189,233
Alternative Uses
Best Use
Retail
$2.81M
$2.46M – $3.28M
NOI $197,031 @ 7.0% cap · market cap 6.57%
Second Best
Mixed Use
$2.81M
$2.46M – $3.28M
NOI $196,512 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$4.07M
$3.56M – $4.75M
NOI $284,729 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
124k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Apparel 36%
Ross Dress for Less
Apparel
43,687 visits/mo
0.3 miles
Dollar Tree
Shops & Services
24,622 visits/mo
0.3 miles
PetSmart
Shops & Services
20,554 visits/mo
0.2 miles
Plaid Pantry
Shops & Services
8,676 visits/mo
0.4 miles
Chevron
Shops & Services
8,104 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 17,800 SF retail building in Gresham's historic downtown.
Where is this retail space located?
The property is located at 211 NE Roberts Ave Gresham, OR.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Strategic location in the heart of downtown Gresham, offering exceptional visibility and foot traffic.; Significant redevelopment potential due to metro area growth and the City of Gresham's One Gresham initiative.; Transit‑oriented location with MAX Blue Line access to downtown Portland and Portland International Airport.
