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Former Miller Paint - Gresham 1831 E Powell Blvd 9,800 SF Retail Building Gresham, OR 97080 $2,300,000 ($234.69/SF)
Investment Highlights
- Owner/User or Value-Add Opportunity
- Well Maintained Property
- Strategic Regional Connectivity | I-84 and I-205 Access
- High-Visibility Hard Corner Location (26,000+ VPD) | Market-Rate Lease-Up Upside
- Strong Trade Area Surrounded by National and Regional Tenants
- Flexible Moderate Commercial (MC) Zoning
Executive Summary
Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale the former Miller Paint in Gresham, OR, an owner/user or value-add investor opportunity. The property features a 9,800 SF commercial building on 1.13 acres with an open layout including retail and warehouse space and in-place income from a leased billboard sign. The building has been well maintained with upgrades over the past several years including roof overlay and new HVAC unit. It is located on the hard corner of E Powell Blvd/Hwy 26 (23,000+ VPD) and SE 1st Street (3,000+ VPD), adjacent to SE Burnside Rd (36,000+ VPD), with excellent visibility, a dedicated left turn lane, and multiple points of ingress/egress. The billboard features ongoing 5-year terms, with a renegotiation window at the end of 2026. The property benefits from being surrounded by national retailers including Fred Meyer, Walmart, Winco Foods, Trader Joe's, NAPA Auto Parts, Subaru, Ford, Hertz, O'Reilly Auto Parts, Sherwin-Williams, Michaels, and Chick-fil-A, driving consistent consumer traffic. There is convenient access to I-84 and I-205, supporting strong regional draw throughout Gresham and the greater Portland-Vancouver MSA. Currently vacant, the property offers lease-up opportunity with market rents approximately $18/SF–$21/SF + NNN. The property features flexible MC zoning permitting retail, service, office, and general commercial uses, with multi-family housing allowed as a secondary use, providing long-term redevelopment potential. The area demographics are strong, with nearly 180,000 people within a 5-mile radius and average household incomes exceeding $95,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,800 SF
Building Class
C
Year Built/Renovated
1967/2022
Price
$2,300,000
Price Per SF
$234.69
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.00 AC
Zoning
MC
Parking
23 Spaces (2.35 Spaces per 1,000 SF Leased)
Frontage
319’ on Southeast 1st Street
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R339470 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $538,130 |
Property Taxes
Parcel Number
R339470
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$538,130
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