Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Renovated Mixed-Use Building, Gresham Title is generated by Realmo AI

    1005 N Main Ave, Gresham, OR 97030

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Fully renovated mixed-use building in downtown Gresham with rental income.

    Type:Mixed Use
    Property size:
    4,320 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $254/SF
    Added:
    Jul 31, 2024
    Days on Market:
    670
    Last Refresh:
    May 12 at 8:37 pm

    Property Features for 1005 N Main Ave

    General Information

    Standard status
    Active
    Size
    4,320 SF
    Lot size
    0.34 Acres
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Sue O'Halloran

    Listing agent Sue O'Halloran License #OR 820700012

    Listing office Kohler Meyers O'Halloran

    Listing date Jul 31, 2024

    Source Crexi

    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 Kohler Meyers O'Halloran

    HighLights

    • High Rental Income: $7500/month
    • Fully Renovated: New roof, electrical, HVAC, and interior in 2023
    • Prime Downtown Location: Gresham, with access on Division and N. Main Ave
    • Onsite Parking and Drive‑Thru Access
    • Large Lot Size: 15,000 sf
    • ADA Compliant

    Overview

    This is a fully renovated mixed-use building constructed in 1926, situated in downtown Gresham. The building has undergone extensive upgrades in 2023, including new roof, electrical, and HVAC systems, as well as a complete interior renovation. The property features a lot size of 15,000 square feet and a building size of 4,320 square feet. It generates a rental income of $7,500 per month. The property includes on-site parking and drive-thru access from Division Street and N. Main Avenue. The building is ADA compliant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    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
    -122.431
    Latitude
    45.5092

    Nearby Similar for Sale

    • $625,000
      2,692 SF

      Gresham Duplex Investment Opportunity

      Duplex in Gresham with strong rental income.
      765 775 SE ROBERTS Ave, Gresham, OR 97080
      View Details
    • $689,000

      Gresham Triplex with Creek View

      Well-maintained triplex in Gresham with a vacant unit.
      3110 NE 7TH Ct, Gresham, OR 97030
      View Details
    • $1,350,000
      7,245 SF

      Commercial Building on Powell Blvd

      Well-maintained commercial building with high visibility and easy highway access.
      1294 E POWELL, Gresham, OR 97030
      View Details
    • $950,000
      4,124 SF

      Updated Office Space For Sale

      Prime updated office space with flexible zoning and layout.
      2010 SE 182ND, Gresham, OR 97233
      View Details
    • $1,350,000

      Commercial Building on Powell Blvd

      Well-maintained commercial building with high visibility and easy highway access.
      1294 E Powell Blvd, Gresham, OR
      View Details
    • $1,750,000
      4,436 SF

      Turnkey Auto Dealership Opportunity

      High-traffic location with DCL zoning permitting outdoor commercial sales.
      786 NE BURNSIDE, Gresham, OR 97030
      View Details
    • $1,499,000
      7,824 SF

      Gresham Commercial Property Near Burnside

      Single-story building with lower office/storage, near Burnside and MAX.
      500 Northwest 20th Street, Gresham, OR 97030
      View Details
    • $2,999,999
      17,800 SF

      Downtown Gresham Commercial Building For Sale

      Former Discounts Plus building in Gresham's historic downtown commercial corridor.
      211 NE Roberts Ave, Gresham, OR 97030
      View Details
    • $689,000
      835 SF

      Well-Maintained Triplex in Gresham

      Triplex with one vacant unit, ideal for owner-occupancy.
      3110 Northeast 7th Court, Gresham, OR 97030
      View Details
    • $1,850,000
      6,573 SF

      Downtown Gresham Investment Opportunity

      Turnkey medical office building with redevelopment potential.
      400 NE Roberts, Gresham, OR 97030
      View Details
    • $2,700,000
      14,400 SF

      Gresham Industrial Flex Space Available

      Versatile industrial property with warehouse and office space for sale.
      21640 SE Stark St, Gresham, OR 97030
      View Details
    • $450,000

      Gresham Duplex with Rental History

      Well-maintained duplex with long-term tenants and new roof.
      970 NW WONDERVIEW Ct, Gresham, OR 97030
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Fully renovated mixed-use building in downtown Gresham with rental income.
    Where is this mixed-use property located?
    The property is located at 1005 N Main Ave Gresham, OR.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: High Rental Income: $7500/month; Fully Renovated: **New roof, electrical, HVAC, and interior in 2023**; Prime Downtown Location: Gresham, with access on Division and N. Main Ave
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sue O'Halloran
    Real Estate License ID: OR 820700012
    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
    1005 N Main Ave, Gresham, OR 97030
    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!