Gated Flex Space with
For Sale
$299,000
Pending
604 Franquette Street, Medford, OR 97501
Commercial Sale, Medford, OR
Property Size1,264 SF
Lot Size0.16 Acres
Days on Market62
Property Features for 604 Franquette Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-H
Parking features
Gated
Security features
Security System
Window features
Double Pane Windows
Subdivision
Southsea Addition, First Extension Of
Lot features
Fenced
Standard status
Pending
APN
10664416
Size
1,264 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1381
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Ductless (Heating)
Cooling system
Ductless
Water source
Public
Amenities
security system
Building Details
Year built
2022
Floors in Building
1
Number of units
1
Flooring type
Laminate, Concrete
Building materials
Frame
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Samuel Martin · License #200107119
(541) 301-0617
Added: Jun 24
Changed: Aug 24
Last Checked: Aug 24 at 6:06PM
MLS# 220224010
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 1,264-square-foot flex property combines a substantial shop with a dedicated office, one full bathroom, and one-half bath. Built in 2022 with frame construction, the building features laminate and concrete flooring, updated interior drywall, a composition roof, wall furnace and ductless heating, and ductless cooling. A security system remains with the property.
The 0.16-acre site includes a gated parking area for vehicles, customers, employees, or equipment. Public water and public sewer serve the property, while C-H zoning supports a range of commercial applications. Located at 604 Franquette Street in Medford, Oregon, the property provides a compact commercial setting with enclosed work and office areas.
The 0.16-acre site includes a gated parking area for vehicles, customers, employees, or equipment. Public water and public sewer serve the property, while C-H zoning supports a range of commercial applications. Located at 604 Franquette Street in Medford, Oregon, the property provides a compact commercial setting with enclosed work and office areas.
Key Highlights
- 1,264 SF flex building on a 0.16‑acre site
- C‑H zoning with shop and dedicated office areas
- Built in 2022 with frame construction
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
$11,523
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
3.85%
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%
$230,460
$230.5K
Cap Rate 7%
$164,614
$164.6K
Cap Rate 9%
$128,033
$128.0K
Market Conditions
NOI Build-Up for 1,264 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
$19.0K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$17.7K $14.03/SF
− OpEx
−$6.2K −$4.91/SF
NOI
$11.5K $9.12/SF
Area
Jackson County, OR
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$230,460
Cap Rate 7%
$164,614
Cap Rate 9%
$128,033
Alternative Uses
Best Use
Flex RnD
$164.6K
$144.0K – $192.1K
NOI $11,523 @ 7.0% cap · market cap 3.85%
Second Best
Warehouse
$139.8K
$122.4K – $163.2K
NOI $9,789 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$305.1K
$267.0K – $356.0K
NOI $21,357 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C-H zoning, a dedicated office, substantial shop area, and two-bathroom configuration support varied commercial operations.
Where is this flex space located?
The property is located at 604 Franquette Street Medford, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,264 SF flex building on a 0.16‑acre site; C‑H zoning with shop and dedicated office areas; Built in 2022 with frame construction
