Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    124 3 St Gresham, OR 97030
    Back to Search
    Property profile & analytics

    124 3 St Gresham, OR 97030

    View on Map
    • Hospitality properties
    • 4,096 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitality properties

    Property Details for 124 3 St

    Property size
    4,096 SF
    Property type
    Hospitality properties

    Description

    This exceptional business opportunity presents the chance to acquire Helfer's on 3rd, a thriving two-story bar located in the heart of downtown Gresham, Oregon. The property boasts 4,096 square feet of space, encompassing a main bar area and a unique speakeasy on the lower level. The current lease is a NNN (Net, Net, Net) agreement with a remaining term of 4.5 years, commencing February 12, 2024, and includes annual rent bumps of 3%. The property features 15 parking spaces and is situated at 124 NE 3rd St, Gresham, OR 97030. The asking price is $265,000, with owner carry terms available with a $125,000 down payment. The business is currently operating as a dual-concept establishment, offering a main bar area with Oregon Lottery games and a separate, more intimate speakeasy featuring handcrafted cocktails. The property consists of two units across two stories, classified as Class C. The sale includes the business only

    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
    -122.429
    Latitude
    45.4997

    Comparable in this City

    • Value Estimation by Request
      37,949 SF

      1572 Burnside Rd

      HOTEL • 37,949 SF
      1572 Burnside Rd, Gresham, OR 97030-5719
      View Details
    • Value Estimation by Request
      27,412 SF

      24124 Stark St

      HOTEL • 27,412 SF
      24124 Stark St, Gresham, OR 97030-3359
      View Details
    • Value Estimation
      $11,245,000
      88,383 SF

      2752 Hogan Dr

      HOTEL • 88,383 SF
      2752 Hogan Dr, Gresham, OR 97030-3130
      View Details
    • Value Estimation by Request
      0.41 Acres

      750 Wi E Powell Blvd

      MOTEL • 0.41 Acres
      750 Wi E Powell Blvd, Gresham, OR 97030
      View Details
    • Value Estimation
      $1,950,000
      35,408 SF

      1060 Cleveland Ave

      HOTEL • 35,408 SF
      1060 Cleveland Ave, Gresham, OR 97030-5739
      View Details
    • Value Estimation by Request
      10,460 SF

      750 Powell Blvd

      HOTEL • 10,460 SF
      750 Powell Blvd, Gresham, OR 97030-7616
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,800 SF

      Downtown Gresham Retail Investment Opportunity

      17,800 SF retail building in Gresham's historic downtown.
      211 NE Roberts Ave, Gresham, OR 97030
      View Details
    • $750,000
      1,996 SF

      Gresham Mixed-Use Building

      1,996 SF, .32-acre lot, high visibility
      21511 Stark St, Gresham, OR 97030
      View Details
    • $1,100,000
      5,728 SF

      Prime Corner Location in Gresham

      Fully renovated corner property with flexible use and ample parking.
      1005 N Main St, 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 Ave, Gresham, OR 97030
      View Details
    • Contact for pricing
      3,395 SF

      Commercial Land in Downtown Gresham

      Over an acre of commercial land with development opportunities.
      225 Powell Blvd, Gresham, OR 97030
      View Details
    • $849,000
      0.86 Acres

      Gresham Commercial Land For Sale

      0.86 acre commercial land in high-growth Gresham corridor.
      4434 W Powell Blvd, Gresham, OR 97030
      View Details

    Similar Nearby for Lease

    • $4,667 /Mo

      New Industrial Space in Gresham

      2800 SF industrial space in Gresham's General Industrial zone.
      21600 SE Stark St, Gresham, OR 97030
      View Details
    • $20 SF/Yr

      Remodeled Office Space Available

      Newly remodeled office space in a professional medical building.
      25500 SE Stark St, Gresham, OR 97030
      View Details
    • Contact for pricing
      3,909 SF

      Retail Space in Gresham, Oregon

      Retail space available for lease in Gresham, Oregon.
      1748 NW Fairview Dr, Gresham, OR 97030
      View Details
    • $2,950 /Mo
      2,761 SF

      Industrial Space Available For Rent

      Industrial property available for rent in Gresham, Oregon.
      21920-21968 NE Glisan St, Gresham, OR 97030
      View Details
    • Contact for pricing
      1,658 SF

      Professional Office Space Available

      Office space with private offices and collaborative work area.
      1700 NW Civic Dr, Gresham, OR 97030
      View Details
    • Contact for pricing

      Gresham Shopping Center Space Available

      Shopping center space for lease near downtown Gresham.
      NW Division St, Gresham, OR 97030
      View Details
    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.
    124 3 St
    Gresham, OR 97030
    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
    124 3 St, 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!