Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land Near Retail Center Title is generated by Realmo AI

    277-291 NE 223rd Ave, Gresham, OR

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial land for rent near Wood Village Town Center.

    Type:LAND
    Lot size:
    0.09 Acres
    Added:
    Aug 12, 2025
    Days on Market:
    280
    Last Refresh:
    Apr 5 at 9:33 pm

    Property Features for 277-291 NE 223rd Ave

    General Information

    Standard status
    Active
    Lot size
    0.09 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 277-291 NE 223rd Ave Contact us

    We can help!

    Listing Contact
    Alex MacLean IV
    Alex MacLean IV

    Listing agent Alex MacLean IV

    Listing office Commercial Realty Advisors Northwest LLC

    Listing date Aug 12, 2025

    Source Moodyscre

    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 Commercial Realty Advisors Northwest LLC

    HighLights

    • High‑traffic location at the intersection of 223rd Avenue and NE Everett Street.
    • Located across from Wood Village Town Center, featuring major retailers like Fred Meyer, Kohl’s, and Lowe’s.
    • Strong co‑tenancy with national brands including Walgreens, Pacific Dental, and Subway.
    • Diverse mix of neighboring businesses such as restaurants (Buffalo Wild Wings, The Rock Wood‑Fired Pizza, Starbucks) and service providers (Geico, Comcast XFinity).
    • Includes Legacy GoHealth and Sherwin Williams as co‑tenants.
    • Features unique co‑tenants like Red Wing Shoes and Rock Haven Climbing Gym.

    Overview

    This commercial land is located at the intersection of 223rd Avenue and NE Everett Street, across from Wood Village Town Center. The location offers proximity to a variety of retailers, including Fred Meyer, Kohl’s, Lowe’s, and Party City, as well as restaurants such as Buffalo Wild Wings, The Rock Wood-Fired Pizza, and Starbucks. Current co-tenants in the surrounding area include Walgreens, Pacific Dental, Legacy GoHealth, Sherwin Williams, Subway, Geico, Comcast XFinity, Red Wing Shoes, and Rock Haven Climbing Gym.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Building Supply Hair Salon Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.384875
    Latitude
    45.484172

    Nearby Similar for Lease

    • $20 SF/Yr
      1,288 SF

      Remodeled Office Space Available

      Newly remodeled office space in a professional medical building.
      25500 SE STARK #204, Gresham, OR 97030
      View Details
    • $12 SF/Yr

      Retail Space Near Gresham Station

      Retail space for lease near Gresham Station and Grocery Outlet.
      2919 NW Division St, Gresham, OR 97030
      View Details
    • $19 SF/Yr
      575 SF

      Retail Space in Hogan Plaza

      Retail space for lease in Gresham, Oregon.
      1905 NE Division St, Gresham, OR
      View Details
    • $25 SF/Yr
      1,982 SF

      Retail Space on Fairview Drive

      Retail space available in high-traffic Gresham location.
      1652 NW Fairview Dr, Gresham, OR
      View Details
    • $20 SF/Yr
      95,540 SF

      Commercial Space on Hogan Drive

      Commercial space with high visibility and strong traffic.
      2830 Northeast Hogan Drive, Gresham, OR 97030
      View Details
    • Contact for pricing

      Restaurant and Bar on Kane

      Free-standing restaurant and bar with high exposure.
      1125 NE Kane Drive, Gresham, OR 97030
      View Details
    • Contact for pricing
      6,266 SF

      Retail Space in Gresham Station

      Retail space available in a mixed-use lifestyle center.
      839-989 NW 12th St, Gresham, OR
      View Details
    • Contact for pricing
      188,870 SF

      Retail Space in Fred Meyer Center

      Retail space available in Fred Meyer-anchored shopping center.
      2497 SE Burnside Rd, Gresham, OR 97080
      View Details
    • Contact for pricing
      684 SF

      Gresham Mixed-Use Lifestyle Center Space

      Retail space in a 340,000 SF mixed-use lifestyle center.
      547-649 NW 12th St, Gresham, OR
      View Details
    • Contact for pricing

      Gresham Retail and Office Space

      Retail and office spaces in Gresham's high-tech corridor.
      21910-21968 NE Glisan Street, Gresham, OR 97030
      View Details
    • Contact for pricing
      17,000 SF

      Gresham Office Space Near Transit

      Office space in Gresham near transit and parking.
      400 NE 7th St, Gresham, OR 97030
      View Details
    • Contact for pricing
      1,056 SF

      Retail/Industrial Space Near Town Center

      Retail or industrial space with established co-tenants, near shopping center.
      439 NE 223rd Ave, Gresham, OR
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for rent near Wood Village Town Center.
    Where is this commercial land located?
    The property is located at 277-291 NE 223rd Ave Gresham, OR.
    What are key features of this property?
    This property features: High‑traffic location at the intersection of 223rd Avenue and NE Everett Street.; Located across from Wood Village Town Center, featuring major retailers like Fred Meyer, Kohl’s, and Lowe’s.; Strong co‑tenancy with national brands including Walgreens, Pacific Dental, and Subway.
    (503) 274-0211 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alex MacLean IV
    Alex MacLean IV
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    277-291 NE 223rd Ave, Gresham, OR
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!