Downtown Gresham Investment
For Sale
$1,850,000
Pending
400 NE Roberts, Gresham, OR 97030
Turnkey medical office building with redevelopment potential.
Property Size6,573 SF
Lot Size0.28 Acres
Days on Market384
Property Features for 400 NE Roberts
General Information
Standard status
Pending
Size
6,573 SF
Lot size
0.28 Acres
Property subtype
Commercial
Building Details
Year Built
1969
Listing Agency:
OREGON FIRST
(503) 667-5686
Listed By:
RACHEL SHELLER · License #961100147
Source:
Corcoran
Added: Jul 15, 2025
Changed: Jul 6
Last Checked: Jul 23 at 9:17AM
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 OREGON FIRST
Investment Insights
Based on property information with market context.
Located in downtown Gresham, this property at 400 NE Roberts Avenue presents an investment opportunity. The property, formerly the Roberts Street Clinic for over 50 years, features a turnkey interior with 12 rooms and larger offices. It includes 24 dedicated parking spaces. The site consists of two tax lots totaling 0.56 acres and is zoned DCC, offering future-use flexibility, including residential or mixed-use redevelopment. The property is available for immediate occupancy and offers strong street visibility. Examples of development potential include street-level retail with three additional residential stories. The building size is 6,573 square feet.
Key Highlights
- Prime downtown Gresham location with 24 dedicated parking spaces.
- Flexible DCC zoning allows for residential or mixed‑use redevelopment.
- Turnkey interior with 12 rooms and larger offices suitable for immediate occupancy.
Financial Insights For Healthcare Medical
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 | $149.9k | $22.80 |
| − Vacancy | −$10.5k | −$1.60 |
| EGI | $139.4k | $21.20 |
| − OpEx | −$55.7k | −$8.48 |
| NOI | $83.6k | $12.72 |
6,573 SF · lease $22.80/SF/yr · vacancy 7.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.05M – $1.39M
NOI $83,624 @ 7.0% cap · market cap 4.52%
Second Best
Office B
$1.11M
$973.1K – $1.30M
NOI $77,851 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,142 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Well-served
Demand for This Use
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office building with redevelopment potential.
Where is this medical office space located?
The property is located at 400 NE Roberts Gresham, OR.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime downtown Gresham location with **24 dedicated parking spaces.**; Flexible DCC zoning allows for residential or mixed‑use redevelopment.; Turnkey interior with **12 rooms and larger offices suitable for immediate occupancy.**
