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    2480 Division St Gresham, OR 97030
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    2480 Division St Gresham, OR 97030

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    • Office properties & Spaces
    • 488 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2480 Division St

    Year built
    1977
    Lot size
    1.00 lot acres
    Property size
    488 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional office condo presents a unique investment opportunity in the desirable Gresham, Oregon market. Located at 2480 NE Division St, this property boasts 488 square feet of versatile space, perfect for a variety of professional uses. The condo includes the significant advantage of two dedicated parking spaces, a rare find in this area. The low monthly HOA dues of $157 contribute to the overall affordability and attractive return on investment. The existing layout is easily adaptable to suit the needs of a new owner, allowing for customization and efficient space planning. The property sits on a one-acre lot, offering ample surrounding space and a pleasant environment. Priced competitively at $124,990, this office condo represents an excellent opportunity for both owner-occupants and investors seeking a strong foothold in the Gresham commercial real estate market. Its convenient location and adaptable interior make it an ideal choice for a wide range of businesses. Don't miss this chance to acquire a well-maintained, easily customizable office space with the added benefit of dedicated parking. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gresham
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.407
    Latitude
    45.5045

    Comparable in this City

    • Value Estimation
      $4,200,000
      13,500 SF

      2150 Division St

      OFFICE (GENERAL) • 13,500 SF
      2150 Division St, Gresham, OR 97030-5813
      View Details
    • Value Estimation
      $860,000
      4,785 SF

      546 20th St

      OFFICE (GENERAL) • 4,785 SF
      546 20th St, Gresham, OR 97030-2406
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    • Value Estimation
      $1,710,000
      5,024 SF

      247 Powell Blvd

      OFFICE (GENERAL) • 5,024 SF
      247 Powell Blvd, Gresham, OR 97030-7605
      View Details
    • Value Estimation by Request

      1217 Burnside Rd

      Office properties & Spaces
      1217 Burnside Rd, Gresham, OR 97030
      View Details
    • Value Estimation by Request

      238 Powell Blvd

      Live-work space
      238 Powell Blvd, Gresham, OR 97030
      View Details
    • Value Estimation by Request
      1,191 SF

      2498 Division St

      CONDOMINIUM OFFICES • 1,191 SF
      2498 Division St, Gresham, OR 97030-6020
      View Details

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    • $1,400,000
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      Retail Building with Short-Term Leases

      Single-story retail building with investment or owner-user potential.
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      17,800 SF

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    Similar Nearby for Lease

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      Office Space for Sublease

      Office space available for sublease.
      1217 NE Burnside Rd, Gresham, OR 97030
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      Gresham Retail and Office Space

      Retail and office spaces in Gresham's high-tech corridor.
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      17,000 SF

      Gresham Office Space Near Transit

      Office space in Gresham near transit and parking.
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      Flex Space with Secured Yard

      Flex space featuring shop, office, and secured fenced yard.
      840 NE Cleveland Ave, Gresham, OR 97030
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    • $20 SF/Yr

      Remodeled Office Space Available

      Newly remodeled office space in a professional medical building.
      25500 SE Stark St, Gresham, OR 97030
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    • Contact for pricing

      Flexible Office Suites Available

      Adaptable office spaces for rent with shared amenities.
      24076 SE Stark St, Gresham, OR 97030
      View Details
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    2480 Division St
    Gresham, OR 97030
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    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
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