Gresham Industrial Flex Space
For Sale
Contact for pricing
21640 SE Stark St, Gresham, OR 97030
Versatile industrial property with warehouse and office space for sale.
Property Size14,400 SF
Lot Size0.81 Acres
Price / SF$173.61
Days on Market167
Property Features for 21640 SE Stark St
General Information
Standard status
Active
Size
14,400 SF
Lot size
0.81 Acres
Property subtype
Industrial
Zoning
GI (General Industrial)
Investment Type
Owner/User
Listing Agency:
Macadam Forbes
(503) 227-2500
Listed By:
Zach Reichle · License #OR
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 11 at 11:25AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This vacant property, available immediately for an owner-user, features approximately 14,400 square feet of space on a 0.81-acre lot. The property offers a functional combination of warehouse and office areas. Zoned GI (General Industrial) by the City of Gresham, it accommodates a wide array of industrial uses, including construction, manufacturing, warehousing and storage, trade schools, and wholesaling. The site provides ample front parking, along with a gated, paved yard suitable for overflow parking or outdoor storage. Two grade-level loading doors are located at the rear of the building. The property benefits from strong visibility along Stark Street and a central location within the eastern Portland metro submarket. Located in East Gresham, Oregon, within an established industrial and commercial corridor serving the greater Portland metro area, the property offers convenient access to I-84 via nearby 181st Ave and 202nd Ave, providing efficient connectivity to Portland, Troutdale, and the Columbia River Gorge. The site benefits from its proximity to regional transportation routes, a strong local labor pool, and nearby industrial users, making it well-positioned for distribution, service, or light manufacturing operations.
Key Highlights
- Vacant and available immediately for owner‑user.
- Zoned GI (General Industrial) allowing for a wide range of industrial uses.
- Approximately 14,400 square feet on 0.81 acres with a functional mix of warehouse and office space.
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
$133,605
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
5.34%
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%
$2,672,100
$2.7M
Cap Rate 7%
$1,908,643
$1.9M
Cap Rate 9%
$1,484,500
$1.5M
Market Conditions
NOI Build-Up for 14,400 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
$224.6K $15.60/SF
− Vacancy
−$19.1K −$1.33/SF
EGI
$205.5K $14.27/SF
− OpEx
−$71.9K −$5.00/SF
NOI
$133.6K $9.28/SF
Area
Gresham, OR
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,672,100
Cap Rate 7%
$1,908,643
Cap Rate 9%
$1,484,500
Alternative Uses
Best Use
Flex RnD
$1.91M
$1.67M – $2.23M
NOI $133,605 @ 7.0% cap · market cap 5.34%
Second Best
Warehouse
$1.70M
$1.49M – $1.99M
NOI $119,302 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,342 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
650
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
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial property with warehouse and office space for sale.
Where is this flex space located?
The property is located at 21640 SE Stark St Gresham, OR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Vacant and available immediately for owner‑user.; Zoned GI (General Industrial) allowing for a wide range of industrial uses.; Approximately 14,400 square feet on 0.81 acres with a functional mix of warehouse and office space.
