Retail Property with Upstairs
215 Galice Road Merlin, OR 97532
For Sale
$350,000
Pending
COMMERCIAL - Merlin, OR
Property Size1,442 SF
Lot Size0.60 Acres
Days on Market151
Property Features for 215 Galice Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Pending
- APN
- R304246
- Size
- 1,442 SF
- Lot size
- 0.60 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1117
Utilities
- Sewer type
- Septic Tank
- Heating system
- Heat Pump (Heating), Electric (Heating)
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Private, Well
Building Details
- Year built
- 1974
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Concrete
- Roof type
- Metal
Listing Agency:
Keller Williams Realty Southern Oregon
(541) 608-0447
Listed By:
Erik Von Eggers · License #201259625
(503) 487-7204
Added: Feb 24
Changed: Jul 6
Last Checked: Jul 25 at 12:06PM
MLS# 220215866
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 for-sale commercial retail property in Merlin includes a storefront with interior space that is currently unfinished, previously associated with a garden and grow store, and includes an active OLCC retail license that is not currently operating. The unfinished interior provides flexibility for a tenant or buyer looking to complete build-out for a cannabis retail outlet or repurpose the space for another retail use.
The building also features a livable area upstairs, which can support on-site management or residential use. The property is described as having good visibility and easy access, supporting a retail presentation and customer access.
Because the OLCC retail license is active and the interior is unfinished, this asset may be particularly useful for an operator or buyer ready to complete the required improvements for retail. It also offers an alternate path for buyers seeking a mixed-use configuration, combining ground-floor commercial space with upstairs livable space.
The building also features a livable area upstairs, which can support on-site management or residential use. The property is described as having good visibility and easy access, supporting a retail presentation and customer access.
Because the OLCC retail license is active and the interior is unfinished, this asset may be particularly useful for an operator or buyer ready to complete the required improvements for retail. It also offers an alternate path for buyers seeking a mixed-use configuration, combining ground-floor commercial space with upstairs livable space.
Key Highlights
- Active OLCC retail license included (not currently operating); interior build‑out for a dispensary is unfinished
- Previously used as a garden and grow store in Merlin; comes with a flexible commercial interior layout
- Livable area upstairs for on‑site management or residential use
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.0k | $13.20 |
| − Vacancy | −$1.1k | −$0.79 |
| EGI | $17.9k | $12.41 |
| − OpEx | −$5.4k | −$3.72 |
| NOI | $12.5k | $8.69 |
1,442 SF · lease $13.20/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$178.9K
$156.6K – $208.8K
NOI $12,525 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.0K
$286.1K – $381.5K
NOI $22,887 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - Versatile retail building with a licensed storefront and unfinished interior suited for cannabis or other commercial conversions.
Where is this storefront property located?
The property is located at 215 Galice Road Merlin, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Active OLCC retail license included (not currently operating); interior build‑out for a dispensary is unfinished; Previously used as a garden and grow store in Merlin; comes with a flexible commercial interior layout; Livable area upstairs for on‑site management or residential use
