Rockwood Two-Story Office
For Sale
Contact for pricing
18210 E Burnside Street, Gresham, OR 97233
Two-story office building in Downtown Rockwood area.
Property Size7,200 SF
Lot Size0.40 Acres
Price / SF$197.92
Days on Market1429
Property Features for 18210 E Burnside Street
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
25
Lot size
0.40 Acres
Property subtype
Office
Zoning
Rockwood Town Center (RTC)
Investment Type
Owner/User
Building Details
Year Renovated
2025
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Macadam Forbes
Listed By:
Joe Kappler · License #OR 200605069
(503) 972-7294
Source:
Crexi
Added: Oct 7, 2022
Changed: Aug 31
Last Checked: Sep 3 at 12:50AM
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 two-story, 7,200 square foot office building is located in the Downtown Rockwood area and is suitable for an owner/user or investor. Situated on a 17,622 square foot lot, the building is divided into four suites on each floor. Access to the second floor is provided by two outside stairwells, while a wheelchair ramp provides access to the first floor. Each unit includes its own restroom. Currently, there are three vacant suites, and the remaining tenants are operating under month-to-month agreements. The seller is scheduled to replace all HVAC units in September. The property is located within the Downtown Rockwood neighborhood, Gresham’s newest community hub, which features three new mixed-use buildings, a sprawling public plaza, and the newly remodeled Oregon Tradeswomen headquarters. Rockwood is described as Oregon’s youngest, most diverse, and fastest-growing neighborhood.
Key Highlights
- Located in Downtown Rockwood, Gresham's newest community hub with mixed‑use buildings and a public plaza.
- 7,200 square foot two‑story office building on a 17,622 square foot lot.**
- Opportunity for owner/user or investor.
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
$85,277
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
5.98%
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%
$1,705,540
$1.7M
Cap Rate 7%
$1,218,243
$1.2M
Cap Rate 9%
$947,522
$947.5K
Market Conditions
NOI Build-Up for 7,200 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
$151.2K $21.00/SF
− Vacancy
−$37.5K −$5.21/SF
EGI
$113.7K $15.79/SF
− OpEx
−$28.4K −$3.95/SF
NOI
$85.3K $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 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%
$1,705,540
Cap Rate 7%
$1,218,243
Cap Rate 9%
$947,522
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.42M
NOI $85,277 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,171 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in Downtown Rockwood area.
Where is this office building located?
The property is located at 18210 E Burnside Street Gresham, OR.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Located in Downtown Rockwood, Gresham's newest community hub with mixed‑use buildings and a public plaza.; 7,200 square foot two‑story office building on a 17,622 square foot lot.**; Opportunity for owner/user or investor.
