Commercial Land for
For Sale
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993 NE Kane Dr, Gresham, OR 97030
Commercial land with zoning allowing for wide range of uses.
Property Size6,764 SF
Price / SF$399.17
Days on Market154
Property Features for 993 NE Kane Dr
General Information
Standard status
Active
Size
6,764 SF
Property subtype
Industrial, Land, Office, Retail, Special Purpose
Zoning
Moderate Commercial (MC)
Building Details
Year Built
1983
Year Renovated
2020
Listing Agency:
Kidder Mathews Portland
(503) 221-2294
Listed By:
Ryan O'Leary · License #OR 200804103
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 9 at 8:48AM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
This commercial land offers a property size of 6764 square feet. The zoning allows for a wide range of uses, making it suitable for various commercial real estate purposes, including commercial land, industrial, office, retail, and specialty properties.
Key Highlights
- Zoning allows for wide range of uses
- Year built: 1983
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
$80,113
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
2.97%
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%
$1,602,260
$1.6M
Cap Rate 7%
$1,144,471
$1.1M
Cap Rate 9%
$890,144
$890.1K
Market Conditions
NOI Build-Up for 6,764 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
$142.0K $21.00/SF
− Vacancy
−$35.2K −$5.21/SF
EGI
$106.8K $15.79/SF
− OpEx
−$26.7K −$3.95/SF
NOI
$80.1K $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%
$1,602,260
Cap Rate 7%
$1,144,471
Cap Rate 9%
$890,144
Alternative Uses
Best Use
Office B
$1.14M
$1.00M – $1.34M
NOI $80,113 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$1.07M
$935.9K – $1.25M
NOI $74,872 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.55M
$1.35M – $1.80M
NOI $108,197 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
251
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land with zoning allowing for wide range of uses.
Where is this commercial land located?
The property is located at 993 NE Kane Dr Gresham, OR.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Zoning allows for wide range of uses; Year built: 1983
