Renovated Office
For Sale
$305,000
101 E Park Street, Grants Pass, OR 97527
Commercial Sale, Grants Pass, OR
Property Size1,050 SF
Lot Size0.12 Acres
Price / SF$290.48
Days on Market213
Property Features for 101 E Park Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Gc; General Comm
Parking features
Parking Lot
Lot features
Corner Lot
Directions
GPS
Standard status
Active
APN
360519AD000700
Size
1,050 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2367
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Amenities
private offices
ductless heating/air conditioning
conference room
front lobby
updated bathrooms
newer paint
updated electrical
modern flooring
modern doors and trim
Building Details
Year built
1954
Floors in Building
1
Number of units
1
Flooring type
Laminate
Building materials
Block
Roof type
Metal
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Brian Godley
(541) 770-3325
Added: Mar 5
Changed: Sep 29
Last Checked: Oct 4 at 6:06PM
MLS# 220216458
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 1,050-square-foot office building on a 0.12-acre parcel contains four private offices, a large conference room, a front lobby, and two updated bathrooms. Interior improvements include newer paint, updated electrical, laminate flooring, doors, and trim. Four ductless heating and air-conditioning heads were installed a few years ago. The building was constructed in 1954 and has a block structure with a metal roof.
Nine paved parking spaces are available on the lot. Public water and public sewer serve the property.
Nine paved parking spaces are available on the lot. Public water and public sewer serve the property.
Key Highlights
- 1,050‑square‑foot office building on a 0.12‑acre lot
- Four private offices, conference room, front lobby, and two updated bathrooms
- Four ductless heating and air‑conditioning heads installed a few years ago
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
$11,973
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
3.93%
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%
$239,460
$239.5K
Cap Rate 7%
$171,043
$171.0K
Cap Rate 9%
$133,033
$133.0K
Market Conditions
NOI Build-Up for 1,050 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
$17.6K $16.80/SF
− Vacancy
−$1.7K −$1.60/SF
EGI
$16.0K $15.20/SF
− OpEx
−$4.0K −$3.80/SF
NOI
$12.0K $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%
$239,460
Cap Rate 7%
$171,043
Cap Rate 9%
$133,033
Alternative Uses
Best Use
Office B
$171.0K
$149.7K – $199.6K
NOI $11,973 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.1K
$208.3K – $277.8K
NOI $16,665 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Four private offices, a conference room, lobby, and two bathrooms support a professional office layout.
Where is this office building located?
The property is located at 101 E Park Street Grants Pass, OR.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,050‑square‑foot office building on a 0.12‑acre lot; Four private offices, conference room, front lobby, and two updated bathrooms; Four ductless heating and air‑conditioning heads installed a few years ago
