1806 11 Mile Ave Gresham, OR 97030
- Retail properties
- 3,760 SF
- 0.52 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1806 11 Mile Ave
- Year built
- 1988
- Lot size
- 0.52 lot acres
- Property size
- 3,760 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 3,760 square foot auto shop located at 1806 NW Eleven Mile Ave, Gresham, OR 97030. The property boasts a strong 9.19% cap rate, generating a substantial NOI of $91,024 annually from a 100% occupied, single-tenant net lease. The current lease, with one year remaining, features a tenant responsible for all maintenance, utilities, and insurance, minimizing landlord responsibilities. Built in 1988 and renovated in 2019, this well-maintained building sits on a 0.52-acre lot and is zoned C4. The asking price is $990,000, translating to $263.30 per square foot. Benefiting from its prime location near a Tri-Met transit hub, this property enjoys enhanced security and convenient public transportation access. The tenant's specialized business thrives within a cluster of similar auto repair shops, minimizing vacancy risk and maximizing long-term profitability. This distressed sale presents a compelling opportunity for investors seeking a stable, high-return investment in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.458
- Latitude
- 45.5097
