Downtown Ashland Commercial Building For
For Sale
Contact for pricing
116 Lithia Way, Ashland, OR 97520
Versatile commercial building in downtown Ashland near Oregon Shakespeare Festival.
Property Size3,850 SF
Price / SF$197.40
Days on Market158
Property Features for 116 Lithia Way
General Information
Standard status
Active
Size
3,850 SF
Class
A
Property subtype
Mixed Use, Office, Retail
Zoning
C-1
Occupancy
87%
Lease Type
Modified Gross
Investment Type
Owner/User
Net Operating Income
$47,103
Building Details
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
Catherine Rowe Real Estate Team
Listed By:
Graham Thomas · License #201218617
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 10 at 5:05AM
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 Catherine Rowe Real Estate Team
Investment Insights
Based on property information with market context.
This versatile commercial building is located in the heart of downtown Ashland, surrounded by retail and restaurants, and within one block of the Oregon Shakespeare Festival. The building features eight tenant suites with an established mix of professional and personal services, a restaurant, and a hair salon. The main level includes a 55-foot by 10-foot breezeway to Will Dodge Way, three individual suites, and one common area bathroom. The upper level offers five additional suites, a full commercial kitchen, two additional shared bathrooms, and storage closets. The property benefits from a high-traffic location with excellent visibility and ample public parking directly across Lithia Way. The total property size is 3,850 square feet.
Key Highlights
- High‑traffic downtown location with excellent visibility and ample public parking.
- Versatile commercial building with eight tenant suites and established mix of tenants.
- Located in the heart of downtown Ashland, near retail, restaurants, and the Oregon Shakespeare Festival.
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
$56,891
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
7.49%
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%
$1,137,820
$1.1M
Cap Rate 7%
$812,729
$812.7K
Cap Rate 9%
$632,122
$632.1K
Market Conditions
NOI Build-Up for 3,850 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
$84.5K $21.96/SF
− Vacancy
−$8.7K −$2.26/SF
EGI
$75.9K $19.70/SF
− OpEx
−$19.0K −$4.93/SF
NOI
$56.9K $14.78/SF
Area
Jackson County, OR
Vacancy
10.28%
Lease Rate
$21.96 /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%
$1,137,820
Cap Rate 7%
$812,729
Cap Rate 9%
$632,122
Alternative Uses
Best Use
Specialty Retail
$812.7K
$711.1K – $948.2K
NOI $56,891 @ 7.0% cap · market cap 7.49%
Second Best
Retail
$760.9K
$665.8K – $887.7K
NOI $53,264 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$929.3K
$813.1K – $1.08M
NOI $65,050 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
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?
Mixed-use property - Versatile commercial building in downtown Ashland near Oregon Shakespeare Festival.
Where is this mixed-use property located?
The property is located at 116 Lithia Way Ashland, OR.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: High‑traffic downtown location with excellent visibility and ample public parking.; Versatile commercial building with eight tenant suites and established mix of tenants.; Located in the heart of downtown Ashland, near retail, restaurants, and the Oregon Shakespeare Festival.
