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    Commercial Building in Downtown Grants Title is generated by Realmo AI

    424 NW 6th Street, Grants Pass, OR 97526

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    For Sale
    $955,000

    COMMERCIAL - Grants Pass, OR

    Property size:
    7,250 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $131/SF
    Added:
    Apr 2, 2026
    Days on Market:
    48
    Last Refresh:
    May 19 at 12:06 pm

    Property Features for 424 NW 6th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street
    Interior features
    Ceiling Fan(s), Vaulted Ceiling(s)
    Standard status
    Active
    APN
    R312474
    Size
    7,250 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6439

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Concrete
    Building materials
    Brick, Concrete, Frame
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Michael D Masters
    Michael D Masters

    Listing agent Michael D Masters License #801004242

    Listing office RE/MAX Integrity Grants Pass 1830 NE 7th Street, Medford, OR

    Listing date Apr 2, 2026

    MLS# 220218452

    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.

    HighLights

    • Excellent Cap Rate: Provides a great return on investment.
    • Three Separate Storefronts: Offers multiple income streams with separate meters.
    • Solid Leases: Ensures stable and reliable rental income.
    • Prime Downtown Location: Situated in a high‑traffic downtown corridor with a traffic signal on a corner property.
    • New Roof: Indicates recent investment in property maintenance and reduces future expenses.
    • Solid Building: Constructed with durable materials like brick, concrete, and frame.

    Overview

    This commercial building, located in downtown Grants Pass, Oregon, features three separate storefronts, each with its own meter. The property is situated on a corner lot with a traffic signal. The building has a new roof and a history of good rental income and tenant mix. The property size is 7,250 square feet, situated on a 0.17-acre lot. It is suitable for investors or a future owner-occupant. The property is located in the downtown corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Martins Sign & Print ... (Bike/Boat/Book/etc) Store Kim's Hair Cutting ... Hair Salon Oregon Law Center Social Service Agency Smokeless Solutions Vape ... (Bike/Boat/Book/etc) Store The Hairport Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Blooms Flower Shop — 132 SW L St, Grants Pass, OR 97526
    • Grants Pass Florist & Gifts (Judys) — 632 SW 6th St, Grants Pass, OR 97526
    • Beyond the Garden Gate — Grants Pass, OR 97527
    • Branches & Vine Floral — 778 NW 4th St, Grants Pass, OR 97526

    Location Insight

    • Map
    • Local Demand
    City
    Grants Pass
    County
    Josephine
    State
    Oregon
    Longitude
    -123.325719
    Latitude
    42.441976

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    FAQs

    What type of property is this?
    Storefront property - Three storefronts with solid leases in downtown Grants Pass.
    Where is this storefront property located?
    The property is located at 424 NW 6th Street Grants Pass, OR.
    What is the asking price?
    The asking price for this property is $955,000.
    What are key features of this property?
    This property features: Excellent Cap Rate: Provides a great return on investment.; Three Separate Storefronts: Offers multiple income streams with separate meters.; Solid Leases: Ensures stable and reliable rental income.
    (541) 770-3325
    We can help!
    Listing Contact
    Michael D Masters
    Michael D Masters
    Real Estate License ID: 801004242
    Learn More
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    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.

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