Downtown Mixed-Use
For Sale
$750,000
116 Lithia Way, Ashland, OR 97520
Commercial Sale, Ashland, OR
Property Size3,850 SF
Lot Size0.05 Acres
Price / SF$194.81
Days on Market178
Property Features for 116 Lithia Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-1
Parking features
On Street, Parking Lot, Alley
Interior features
Built-in Features
Lot features
Landscaped, Level
View
City
Standard status
Active
APN
10065401
Size
3,850 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7902
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
breezeway
full commercial kitchen
storage closets
Building Details
Year built
1979
Floors in Building
2
Number of units
8
Flooring type
Hardwood, Vinyl, Tile, Concrete, Carpet
Building materials
Block, Brick, Concrete, Frame
Roof type
Membrane
Listing Agency:
John L. Scott Ashland
(541) 488-1311
Listed By:
Rowe Real Estate Team · License #201218617
(541) 708-3975
Added: Mar 5
Changed: Aug 30
Last Checked: Aug 30 at 9:06AM
MLS# 220216441
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,850-square-foot mixed-use building on a 0.05-acre parcel contains eight tenant suites arranged across two levels. The 1979 property includes a 55' x 10' breezeway leading to Will Dodge Way, three main-level suites, five upper-level suites, a commercial kitchen, storage closets, and shared restrooms. Built-in features and a mix of tile, concrete, hardwood, carpet, and vinyl flooring complement the existing layout.
The property is located in downtown Ashland among retail businesses and restaurants, with the Oregon Shakespeare Festival within one block. Public parking is available directly across Lithia Way, and access is also supported by alley, parking lot, and on-street parking features. Public water and sewer serve the building, which has forced-air heating and central air conditioning.
The property is located in downtown Ashland among retail businesses and restaurants, with the Oregon Shakespeare Festival within one block. Public parking is available directly across Lithia Way, and access is also supported by alley, parking lot, and on-street parking features. Public water and sewer serve the building, which has forced-air heating and central air conditioning.
Key Highlights
- 3,850‑square‑foot mixed‑use building on a 0.05‑acre parcel
- Eight tenant suites across two levels
- 55' x 10' breezeway connecting the main level to Will Dodge Way
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,264
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,280
$1.1M
Cap Rate 7%
$760,914
$760.9K
Cap Rate 9%
$591,822
$591.8K
Market Conditions
NOI Build-Up for 3,850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.2K $21.60/SF
− Vacancy
−$7.1K −$1.84/SF
EGI
$76.1K $19.76/SF
− OpEx
−$22.8K −$5.93/SF
NOI
$53.3K $13.83/SF
Area
Jackson County, OR
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,280
Cap Rate 7%
$760,914
Cap Rate 9%
$591,822
Alternative Uses
Best Use
Retail
$760.9K
$665.8K – $887.7K
NOI $53,264 @ 7.0% cap · market cap 7.10%
Second Best
Office B
$673.2K
$589.1K – $785.4K
NOI $47,124 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$929.3K
$813.1K – $1.08M
NOI $65,050 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level commercial property with professional, personal-service, restaurant, and hair salon suites.
Where is this mixed-use property located?
The property is located at 116 Lithia Way Ashland, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,850‑square‑foot mixed‑use building on a 0.05‑acre parcel; Eight tenant suites across two levels; 55' x 10' breezeway connecting the main level to Will Dodge Way
