MLS# 24147134 – 1806 Nw Eleven Mile Ave, Gresham, OR 97030 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Constant Commercial Real Estate Inc.

Property Description

Description

Status: Active

Year Built: 1988

Days on Website: 7

Heavy Industrial zoned opportunity on a large 0.51-acre fully fenced and paved lot with three structures: a grandfathered residential house/duplex and office, a 5-bay mechanic garage, and an additional garage. The current tenant is Magic City Garage, specializing in performance tuning and mechanical repairs with a lease in place with 15 months remaining. Strong local synergy with other repair shops enhances lease stability and ensures optimal use of the space. The lease outlines minimal landlord responsibility.

Property Details and Features

Building

Building Area Total:

3760

Built in 1988

Expenses

Operating Expense:

$4,976

Exterior Features

Exterior Description:

Aluminum,T111Siding

Garage

Garage Spaces:

Heating

Heating:

WallHeater

Income

CAP Rate:

9.19

Gross Income:

$96,000

Gross Rent Multiplier:

10.31

Net Operating Income:

$91,024

Listing

Contract Status Change Date:

2024-10-31

Days On Market:

Last Transaction Date:

2024-11-04 10:04:14

List Price:

$990,000

Listing Contract Date:

2024-10-31

Listing Id:

24147134

Mls Status:

Active

Modification Timestamp:

2024-11-04 10:04:14

On Market Date:

2024-10-31

Previous List Price:

$1,220,000

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_144

County Or Parish:

Multnomah

Lot

Size Range:

SqFt20000toAcres1

Size:

20,000 SqFt to .99 Acres

Miscellaneous

Investor Information:

AccordingToOwner,ProfitLossStatement

Property

Property Condition:

Existing

Zoning:

Schools

Middle Or Junior School:

Other

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$3,096

Legal Description

Utilities

Fuel Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$990,000 -

1806 Nw Eleven Mile Ave Gresham , OR 97030

MLS Area Major: _144

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 21, 2024 12:08AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.