289 2 St Gresham, OR 97030
- Retail properties
- 12,502 SF
Current Use by Public Records
- Retail properties
Property Details for 289 2 St
- Year built
- 1971
- Property size
- 12,502 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional retail storefront opportunity, located at 289 NE 2nd St in Gresham, Oregon, presents a compelling investment prospect. The 12,502 square foot building sits on a 13,504 square foot lot and boasts a prime corner location within the vibrant downtown Gresham area. Currently housing three tenants with a 100% occupancy rate, the property generates a substantial annual gross income of $168,840. The existing leases offer a blend of short-term and long-term agreements, with expiration dates ranging from the end of the current year to mid-2024, providing a flexible ownership scenario for a potential buyer. This presents an ideal opportunity for an owner-user seeking to occupy all or a portion of the space, or for an investor looking to manage upcoming lease renewals. The building, constructed in 1971, benefits from a newer roof installed in 2016, demonstrating a commitment to ongoing maintenance. The property is zoned DCC and features a modified lease structure. Annual property taxes are $24,927.57. The asking price is $2,200,000, translating to a price per square foot of $175.97. This well-maintained property offers a strong return on investment and significant potential for future growth in a thriving commercial district. The property's location in Multnomah County, Oregon, with a 97030 zip code, ensures easy access to major transportation routes and a diverse customer base.
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
- -122.428
- Latitude
- 45.499
