Storefront with Reinforced
For Sale
$649,000
120 SW M Street, Grants Pass, OR 97526
Corner-lot storefront with manager quarters, gated parking, and a 2023 roof, requiring comprehensive interior renovation.
Property Size5,432 SF
Price / SF$119.48
Days on Market572
Property Features for 120 SW M Street
General Information
Standard status
Active
Size
5,432 SF
Property subtype
General Commercial
Property Condition
Severity
Major Repairs Needed
Evidence
needs to be completely remodeled inside
Taxes and HOA fees
Annual Taxes
$2,930
Amenities
3
Concrete, Laminate, Carpet
Composition
Parking. Corner Lot.
Gravel, Driveway, Storage Room, Gated Parking, RV Parking, Lot.
0.20000000298023224
Other Building. Ground Level Unit, Corner, Paved Road.
Building Details
Year Built
1939
Stories
1
Listing Agency:
PG Realty Advisors, LLC
(503) 680-9681
Listed By:
Jeffrey Potts
(503) 680-9681
Source:
Xome
Added: Feb 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:20AM
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 PG Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This 5,432-square-foot storefront property at 120 SW M Street includes manager quarters with a kitchen and shower. A concrete-and-steel reinforced bunker remains in the building, along with a prison door and key. The interior requires complete remodeling, including the power system, making the property a substantial renovation project.
Built in 1939, the building received a new roof in 2023. Exterior features include a corner-lot position, paved-road access, gated parking, RV parking, a driveway, gravel areas, and a storage room. The property is offered as a storefront asset with existing specialty improvements and a layout that includes a ground-level unit.
Built in 1939, the building received a new roof in 2023. Exterior features include a corner-lot position, paved-road access, gated parking, RV parking, a driveway, gravel areas, and a storage room. The property is offered as a storefront asset with existing specialty improvements and a layout that includes a ground-level unit.
Key Highlights
- 5,432‑square‑foot storefront property
- Concrete‑and‑steel reinforced bunker with prison door and key
- Manager quarters include a kitchen and shower
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
$47,180
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
7.27%
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%
$943,600
$943.6K
Cap Rate 7%
$674,000
$674.0K
Cap Rate 9%
$524,222
$524.2K
Market Conditions
NOI Build-Up for 5,432 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
$71.7K $13.20/SF
− Vacancy
−$4.3K −$0.79/SF
EGI
$67.4K $12.41/SF
− OpEx
−$20.2K −$3.72/SF
NOI
$47.2K $8.69/SF
Area
Josephine County, OR
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$943,600
Cap Rate 7%
$674,000
Cap Rate 9%
$524,222
Alternative Uses
Best Use
Retail
$674.0K
$589.8K – $786.3K
NOI $47,180 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,215 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
90k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Groceries 34%
Dining 26%
Apparel 1%
Safeway
Groceries
30,286 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
14,794 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,839 visits/mo
0.2 miles
U.S. Bank
Shops & Services
7,020 visits/mo
0.3 miles
ARCO
Shops & Services
6,820 visits/mo
0.1 miles
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 Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
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- Grants Pass Florist & Gifts (Judys) — 632 SW 6th St, Grants Pass, OR 97526
- Beyond the Garden Gate — Grants Pass, OR 97527
Frequently Asked Questions
What type of property is this?
Storefront property - Corner-lot storefront with manager quarters, gated parking, and a 2023 roof, requiring comprehensive interior renovation.
Where is this storefront property located?
The property is located at 120 SW M Street Grants Pass, OR.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 5,432‑square‑foot storefront property; Concrete‑and‑steel reinforced bunker with prison door and key; Manager quarters include a kitchen and shower
