Office Suites with
For Sale
$760,000
116 Lithia Way, Ashland, OR 97520
COMMERCIAL - Ashland, OR
Property Size3,850 SF
Lot Size0.05 Acres
Price / SF$197.40
Days on Market161
Property Features for 116 Lithia Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-1
Parking features
Alley, Parking Lot, On Street
Interior features
Built-in Features
Lot features
Landscaped, Level
View
City
Standard status
Active
APN
10065401
Size
3,850 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7902
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
breezeway
common area bathroom
full commercial kitchen
shared bathrooms
storage closets
Building Details
Year built
1979
Floors in Building
2
Number of units
8
Flooring type
Vinyl, Concrete, Hardwood, Carpet, Tile
Building materials
Block, Brick, Concrete, Frame
Roof type
Membrane
Listing Agency:
John L. Scott Ashland
(541) 488-1311
Listed By:
Rowe Real Estate Team · License #201218617
(541) 708-3975
Added: Mar 5
Changed: Aug 4
Last Checked: Aug 13 at 3:06AM
MLS# 220216441
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 commercial property is a multi-suite office building offering eight tenant suites with an established mix of professional and personal services plus restaurant and hair salon space. The main level includes a 55' x 10' breezeway to Will Dodge Way, three individual suites, and one common area bathroom. The upper level provides five additional suites, a full commercial kitchen, two shared bathrooms, and storage closets. Building systems include forced air heating and central air, with built-in features. Flooring includes concrete, tile, vinyl, carpet, and hardwood. The roof is membrane.
Set on a 0.05-acre lot with a total size of 3,850 square feet, the building is described as being within one block of the Oregon Shakespeare Festival and surrounded by retail and restaurants in downtown Ashland. Public parking is available directly across Lithia Way, and parking includes on-street, a parking lot, and alley access.
Constructed in 1979 using block, brick, concrete, and frame construction, the property also connects to public water and public sewer. The listing indicates a recent appraisal of income and comparable sales with market value opinion is available upon request.
Set on a 0.05-acre lot with a total size of 3,850 square feet, the building is described as being within one block of the Oregon Shakespeare Festival and surrounded by retail and restaurants in downtown Ashland. Public parking is available directly across Lithia Way, and parking includes on-street, a parking lot, and alley access.
Constructed in 1979 using block, brick, concrete, and frame construction, the property also connects to public water and public sewer. The listing indicates a recent appraisal of income and comparable sales with market value opinion is available upon request.
Key Highlights
- Eight tenant suites with professional/personal services plus restaurant and hair salon space
- Main level includes a 55' x 10' breezeway to Will Dodge Way, plus three suites and a common area bathroom
- Upper level features five additional suites, a full commercial kitchen, and two shared bathrooms
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
Office B
$673.2K
$589.1K – $785.4K
NOI $47,124 @ 7.0% cap · market cap 6.20%
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
Lease Details
Multi-tenant
Tenancy
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?
Office units - Eight tenant suites with a main-level breezeway and central air in a block, brick, concrete, and frame building.
Where is this office units 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: Eight tenant suites with professional/personal services plus restaurant and hair salon space; Main level includes a 55' x 10' breezeway to Will Dodge Way, plus three suites and a common area bathroom; Upper level features five additional suites, a full commercial kitchen, and two shared bathrooms
