Office Property with Detached
New
For Sale
$639,950
722 N MAIN AVE, Gresham, OR 97030
Downtown zoning accommodates office use, with additional storage buildings and space for off-street parking.
Property Size1,600 SF
Days on Market4
Property Features for 722 N MAIN AVE
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Zoning
DCC
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,891
Building Details
Building Size
1,600 SF
Year Built
1896
Listing Agency:
Jim Kunkel Realty
Listed By:
Lance Kunkel
(503) 260-8906
Source:
Eleeterealestate
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 6:34AM
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 Jim Kunkel Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office property in downtown Gresham includes a detached 24x24 garage suited to storage or warehouse use, along with several additional storage buildings. Updates include the roof, paint, sewer line, bathroom, and kitchen or break area. The property was previously used as office space, and its zoning is DCC.
A public transit hub is a few blocks away. Outside space provides room for off-street parking.
A public transit hub is a few blocks away. Outside space provides room for off-street parking.
Key Highlights
- Detached 24x24 garage for storage or warehouse use
- Several additional storage buildings on site
- DCC zoning in downtown Gresham
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,950
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,000
$379.0K
Cap Rate 7%
$270,714
$270.7K
Cap Rate 9%
$210,556
$210.6K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$33.6K $21.00/SF
− Vacancy
−$8.3K −$5.21/SF
EGI
$25.3K $15.79/SF
− OpEx
−$6.3K −$3.95/SF
NOI
$19.0K $11.84/SF
Area
Gresham, OR
Vacancy
24.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,000
Cap Rate 7%
$270,714
Cap Rate 9%
$210,556
Alternative Uses
Best Use
Office B
$270.7K
$236.9K – $315.8K
NOI $18,950 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.6K
$319.9K – $426.6K
NOI $25,594 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,760
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Downtown zoning accommodates office use, with additional storage buildings and space for off-street parking.
Where is this office unit located?
The property is located at 722 N MAIN AVE Gresham, OR.
What is the asking price?
The asking price for this property is $639,950.
What are key features of this property?
This property features: Detached 24x24 garage for storage or warehouse use; Several additional storage buildings on site; DCC zoning in downtown Gresham
