Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    2587 Merriman Road Medford, OR 97501

    View on Map
    Claim this Listing
    For Sale
    $160,000

    LAND - Medford, OR

    Lot size:
    0.65 Acres
    Added:
    Aug 6, 2024
    Days on Market:
    638
    Last Refresh:
    May 5 at 5:06 pm

    Property Features for 2587 Merriman Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Cross Fenced
    Standard status
    Active
    APN
    10489854
    Lot size
    0.65 Acres

    Taxes and HOA fees

    Tax Year
    2023

    We can help!

    Listing Contact
    Amy Logue

    Listing agent Amy Logue

    Listing office eXp Realty, LLC 710 Cardley Ave, Salem, OR

    Listing date Aug 6, 2024

    MLS# 220187803 Listing URL

    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.

    Overview

    Development Land For Sale

    Available for sale is approximately 0.65 acres of development land. The zoning is SFR 6. This property is part of a larger parcel; approximately 0.60-0.70 acres will be sold with 2605, 2621, and 2573 Merriman, which combined totals approximately 3.0 acres. All properties are contiguous and adjacent, sharing fence lines running East and West. Chico Street intersects Tennessee St. and abuts the back of two properties. A storm drain is being scheduled through Chico Street to tie in with 1.57 acres to the south of 2573 Merriman. The storm drain will be prepared for future development of the vacant land on Merriman Rd. Buyers are advised to conduct their own due diligence to determine the best use and development of the properties. Addresses are provided to locate the land behind the houses. The houses on Merriman are occupied and not presently for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Medford
    County
    Jackson
    State
    Oregon
    Longitude
    -122.889216
    Latitude
    42.35466

    Nearby Similar for Sale

    • $2,400,000
      13,683 SF

      Medford Retail Center For Sale

      Well-maintained retail center near major shopping area.
      602 Crater Lake Avenue, Medford, OR 97504
      View Details
    • $995,000
      14,338 SF

      Downtown Medford Office Building

      Large, dividable office building near downtown revitalization project.
      145 N Bartlett Street, Medford, OR 97501
      View Details
    • $750,000
      5,500 SF

      Medford Industrial Property with Expansion

      Versatile industrial property with main building and new secondary structure.
      1343 E Justice Road, Medford, OR 97502
      View Details
    • $800,000
      6,000 SF

      Medford Industrial Opportunity For Sale

      Versatile industrial building on .59 acres in Medford, Oregon.
      1385 E Justice Road, Medford, OR 97502
      View Details
    • $85,000

      Wild Birds Unlimited Franchise Opportunity

      Turnkey retail franchise in Medford Center with trained staff.
      961 Medford Center, Medford, OR 97504
      View Details
    • $579,900
      2,728 SF

      Medford Multifamily Property with Development Potential

      Two newer homes on a large lot with rental income.
      636 Pennsylvania Avenue, Medford, OR 97501
      View Details
    • $399,000
      1,482 SF

      Medford Commercial Building For Sale

      Standalone commercial building near downtown Medford, turnkey with equipment.
      147 N Holly Street, Medford, OR 97501
      View Details
    • $600,000
      2,699 SF

      Updated Fourplex in High-Demand Location

      Fully updated fourplex with strong rental history near amenities.
      515 Liberty Street, Medford, OR 97501
      View Details
    • $800,000
      1,404 SF

      Medford Commercial Opportunity For Sale

      High-visibility commercial property in Medford, ready for build-out.
      1258 S Riverside Avenue, Medford, OR 97501
      View Details
    • $1,503,400
      51,300 SF

      Versatile Commercial Building in Medford

      51,300 SF building with office, warehouse, and retail space.
      327 S Fir Street, Medford, OR 97501
      View Details
    • $105,000

      Turn-Key Cafe Business Opportunity

      Established Medford cafe with diverse menu and growth potential.
      1173 Court Street, Medford, OR 97501
      View Details
    • $290,000
      1,088 SF

      Medford Commercial Property For Sale

      Centrally located commercial property with multiple tenant possibilities.
      1016 Court Street, Medford, OR 97501
      View Details

    FAQs

    What type of property is this?
    Land - Development land available in Medford, Oregon.
    Where is this land located?
    The property is located at 2587 Merriman Road Medford, OR.
    What is the asking price?
    The asking price for this property is $160,000.
    What are key features of this property?
    This property features: Approximately 2.5‑3.0 acres of development land available; Zoned SFR 6: Property is zoned for Single Family Residential use at a density of 6 units per acre.; Contiguous & Adjacent Properties: Land is combined with other properties totaling approximately 3.0 acres, all sharing fence lines.
    (971) 227-9160
    We can help!
    Listing Contact
    Amy Logue
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2587 Merriman Road, Medford, OR 97501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!