Three-Level Office
For Sale
$537,000
1002 Nw 6th St, Grants Pass, OR 97526
Three-level office building with a remodeled interior, large reception area, and multiple private and work spaces.
Property Size2,278 SF
Price / SF$235.73
Days on Market151
Property Features for 1002 Nw 6th St
General Information
Standard status
Active
Size
2,278 SF
Taxes and HOA fees
Annual Taxes
$3,842
Amenities
reception area
private corner office with mini kitchen
large work area with built-ins
skylights
Building Details
Stories
3
Listing Agency:
Windermere Real Estate Southern Oregon
(541) 476-2000
Listed By:
Suzie Matney P.C.
(541) 660-9818
Source:
Exprealty
Added: Apr 10
Changed: Aug 21
Last Checked: Sep 7 at 11:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Real Estate Southern Oregon
Investment Insights
Based on property information with market context.
This commercial building features approximately 2,278 square feet across three levels and is described as beautifully remodeled and ready for a new business. The property includes a large reception area, extensive storage, skylights, and new exterior and interior paint. Additional improvements noted include a new roof.
The upstairs space has a private corner office with a mini kitchen equipped with a refrigerator, microwave, and sink. The downstairs level includes a large work area with built-ins, supporting day-to-day office operations.
The building is positioned on a busy corner location, providing a prominent presence for an incoming business. Schedule a showing to review the layout and finishes in person.
The upstairs space has a private corner office with a mini kitchen equipped with a refrigerator, microwave, and sink. The downstairs level includes a large work area with built-ins, supporting day-to-day office operations.
The building is positioned on a busy corner location, providing a prominent presence for an incoming business. Schedule a showing to review the layout and finishes in person.
Key Highlights
- Commercial building with 2,278 SF across 3 levels
- Remodeled interior with large reception area and multiple private/work spaces
- New exterior and interior paint plus new roof and skylights
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
$25,976
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
4.84%
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%
$519,520
$519.5K
Cap Rate 7%
$371,086
$371.1K
Cap Rate 9%
$288,622
$288.6K
Market Conditions
NOI Build-Up for 2,278 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
$38.3K $16.80/SF
− Vacancy
−$3.6K −$1.60/SF
EGI
$34.6K $15.20/SF
− OpEx
−$8.7K −$3.80/SF
NOI
$26.0K $11.40/SF
Area
Josephine County, OR
Vacancy
9.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$519,520
Cap Rate 7%
$371,086
Cap Rate 9%
$288,622
Alternative Uses
Best Use
Office B
$371.1K
$324.7K – $432.9K
NOI $25,976 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$516.5K
$452.0K – $602.6K
NOI $36,156 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-level office building with a remodeled interior, large reception area, and multiple private and work spaces.
Where is this office building located?
The property is located at 1002 Nw 6th St Grants Pass, OR.
What is the asking price?
The asking price for this property is $537,000.
What are key features of this property?
This property features: Commercial building with 2,278 SF across 3 levels; Remodeled interior with large reception area and multiple private/work spaces; New exterior and interior paint plus new roof and skylights
