615 SW Evergreen Avenue Redmond, OR 97756
COMMERCIAL - Redmond, OR
Property Features for 615 SW Evergreen Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- On Street
- Interior features
- Elevator
- Accessibility
- Accessible Elevator Installed
- Standard status
- Active
- APN
- 123427
- Size
- 7,500 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9552
Utilities
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace, Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1919
- Floors in Building
- 3
- Number of units
- 14
- Flooring type
- Carpet, Laminate
- Building materials
- Brick
- Roof type
- Membrane
Listing agent Martin Outdoor Property Group License #200706071 (541) 660-5111
Listing office John L. Scott Medford 871 Medford Center, Medford, OR (541) 779-3611
Listing date Feb 2, 2026
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.
Located at the prominent intersection of SW Evergreen Avenue and SW Sixth Street in Redmond, Oregon, the building’s downtown setting supports a mixed-use tenant mix across street-level retail and upper-level space.
This configuration can fit buyers or operators looking for a single asset that combines income-producing retail with additional leased commercial and residential units under one roof. With retail and multi-tenant office/residential components, the building offers a straightforward approach to operating a vertically mixed property where multiple unit types share the same structure and address.
Key Highlights
- Landaker Building built in 1919 with approx. 7,500 SF across three stories in Downtown Redmond.
- Fully leased unit mix: 2 ground‑floor retail units, 2 commercial units on the third floor, and 10 apartment units on the second and third floors.
- Historic renovation in 1932 added two additional floors for office and apartment spaces.
Local Financial Insights For Office B
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 | $153.0k | $20.40 |
| − Vacancy | −$9.4k | −$1.25 |
| EGI | $143.6k | $19.15 |
| − OpEx | −$35.9k | −$4.79 |
| NOI | $107.7k | $14.36 |
