Flex Space with Gated
103 Merlin Road, Merlin, OR 97532
For Sale
$450,000
Commercial Sale, Merlin, OR
Property Size3,280 SF
Lot Size0.43 Acres
Price / SF$137.20
Days on Market47
Property Features for 103 Merlin Road
General Information
Property type
Property subtype
Zoning description
Parking features
Window features
Lot features
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Cody M Testa · License #201230589
(541) 770-3325
Added: Sep 22
Changed: Oct 31
Last Checked: Nov 7 at 12:06AM
MLS# 220229020
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.
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Investment Insights
Based on property information with market context.
This 3,280-square-foot flex property, built in 2008, combines shop and office functionality in a frame-built structure. The front portion has 3 bays, while 2 separate office spaces each include a private bathroom. Flooring includes carpet and concrete, with electric heat and heat-pump heating and cooling.
The 0.43-acre property includes a gated yard, parking lot, and RV parking. Water is supplied by a well and wastewater is handled by a septic tank. The building has a composition roof and is located at 103 Merlin Road in Merlin, Oregon.
The 0.43-acre property includes a gated yard, parking lot, and RV parking. Water is supplied by a well and wastewater is handled by a septic tank. The building has a composition roof and is located at 103 Merlin Road in Merlin, Oregon.
Key Highlights
- 3,280‑square‑foot flex property built in 2008
- 3 front shop bays
- 2 separate offices, each with its own bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,068
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,360
$541.4K
Cap Rate 7%
$386,686
$386.7K
Cap Rate 9%
$300,756
$300.8K
Market Conditions
NOI Build-Up for 3,280 SF
Gross rent
$45.3K $13.80/SF
− Vacancy
−$3.6K −$1.10/SF
EGI
$41.6K $12.70/SF
− OpEx
−$14.6K −$4.44/SF
NOI
$27.1K $8.25/SF
Area
Josephine County, OR
Vacancy
8.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,360
Cap Rate 7%
$386,686
Cap Rate 9%
$300,756
Alternative Uses
Best Use
Flex RnD
$386.7K
$338.4K – $451.1K
NOI $27,068 @ 7.0% cap · market cap 6.02%
Second Best
Warehouse
$351.9K
$307.9K – $410.6K
NOI $24,633 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$743.7K
$650.7K – $867.7K
NOI $52,059 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97532, OR
2,480
Population
974
Households
2.5
Avg Household Size
53
Median Age
24%
College-Educated
87%
High-School Grad
84.4 sq mi
ZIP Area
29
Density / Sq Mi
$77,125
Median Household Income
$36,628
Median Earnings
$894
Median Rent
$417,700
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial space with front bays, separate offices, and a gated yard.
Where is this flex space located?
The property is located at 103 Merlin Road Merlin, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,280‑square‑foot flex property built in 2008; 3 front shop bays; 2 separate offices, each with its own bathroom
