Brick Storefront
For Sale
$955,000
Pending
424 NW 6th Street, Grants Pass, OR 97526
Commercial Sale, Grants Pass, OR
Property Size7,250 SF
Lot Size0.17 Acres
Days on Market150
Property Features for 424 NW 6th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Cbd; Central Bus Dist
Parking features
On Street
Interior features
Ceiling Fan(s), Vaulted Ceiling(s)
Directions
6th St to address
Standard status
Pending
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
Natural Gas, Forced Air
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
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Michael D Masters · License #801004242
(541) 770-3325
Added: Apr 2
Changed: Aug 22
Last Checked: Aug 29 at 12:06PM
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.
Investment Insights
Based on property information with market context.
This 7,250-square-foot storefront property contains three separate retail fronts, each served by its own meter. The building was constructed in 1976 with brick, concrete, and frame components, concrete flooring, vaulted ceilings, and ceiling fans. A rolled hot mop roof, central air, and natural-gas forced-air heating support the interior configuration.
The property occupies 0.17 acres at 424 NW 6th Street in Grants Pass, positioned on a corner with a traffic signal in the downtown corridor. On-street parking serves the site. Public water and public sewer are available, providing established utility infrastructure for the building.
The property occupies 0.17 acres at 424 NW 6th Street in Grants Pass, positioned on a corner with a traffic signal in the downtown corridor. On-street parking serves the site. Public water and public sewer are available, providing established utility infrastructure for the building.
Key Highlights
- Three separate storefronts with individual meters
- 7,250 square feet on a 0.17‑acre lot
- Corner property at a traffic signal in the downtown corridor
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
$62,971
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
6.59%
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%
$1,259,420
$1.3M
Cap Rate 7%
$899,586
$899.6K
Cap Rate 9%
$699,678
$699.7K
Market Conditions
NOI Build-Up for 7,250 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
$95.7K $13.20/SF
− Vacancy
−$5.7K −$0.79/SF
EGI
$90.0K $12.41/SF
− OpEx
−$27.0K −$3.72/SF
NOI
$63.0K $8.69/SF
Area
Josephine County, OR
Vacancy
6.00%
Lease Rate
$13.20 /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%
$1,259,420
Cap Rate 7%
$899,586
Cap Rate 9%
$699,678
Alternative Uses
Best Use
Retail
$899.6K
$787.1K – $1.05M
NOI $62,971 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,070 @ 7.0% cap · market cap 12.05%
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
2,152
Businesses Nearby
92k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Groceries 33%
Shops & Services 29%
Safeway
Groceries
30,286 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
14,794 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
7,322 visits/mo
0.1 miles
U.S. Bank
Shops & Services
7,020 visits/mo
0.4 miles
Chevron
Shops & Services
5,820 visits/mo
0.5 miles
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market 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
Frequently Asked Questions
What type of property is this?
Storefront property - Three separately metered retail fronts occupy a corner site along Grants Pass’s downtown corridor.
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: Three separate storefronts with individual meters; 7,250 square feet on a 0.17‑acre lot; Corner property at a traffic signal in the downtown corridor
