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    Downtown Mixed-Use Development Land Title is generated by Realmo AI

    165 WATER ST, Ashland, OR 97520

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    Development site in Employment Zoning District with prior approvals for an eight-building mixed-use project.

    Type:Multifamily, Office, Mixed Use
    Lot size:
    1.18 Acres
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 2:41 am

    Property Features for 165 WATER ST

    General Information

    Standard status
    Active
    Lot size
    1.18 Acres
    Property subtype
    Multifamily, Office, Mixed Use

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Patie Millen
    Patie Millen

    Listing agent Patie Millen License #OR 940200113

    Listing office Millen Property Group

    Listing date May 27, 2026

    Source Crexi

    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 Millen Property Group

    HighLights

    • 1.18‑acre downtown Ashland commercial development site within the Employment Zoning District
    • Prior approvals include architectural, engineering, landscaping, utility, and entitlement plans for an 8‑building mixed‑use project
    • Project plans call for ground‑level commercial spaces with luxury residences above
    • Current approvals expire in Summer 2026 and may be eligible for renewal
    • Site is about one block from Ashland Plaza

    Overview

    This landmark downtown Ashland commercial development site is offered for sale with prior approvals in place for an eight-building mixed-use project. The entitlement package referenced in the remarks includes architectural, engineering, landscaping, utility, and entitlement plans, with ground-level commercial spaces and residences above. Approvals are noted as expiring in Summer 2026, and the seller indicates they may be eligible for renewal.

    The property is described as being just one block from Ashland’s Plaza, placing it within the downtown corridor near restaurants, theaters, galleries, and Lithia Park. The site is located within the Employment Zoning District, supporting a range of development directions mentioned in the offering.

    For buyers and developers, the combination of approved infrastructure work and a conceptual master plan can help streamline early project planning for a hotel, conference center, mixed-use development, retail, offices, luxury residential, or destination-style concepts, subject to final entitlement and permitting. Because the current approvals have a defined expiration timeline, prospective purchasers should factor renewal or reapproval into their development schedule.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Jackson
    State
    Oregon
    Longitude
    -122.7143089
    Latitude
    42.2009048

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    FAQs

    What type of property is this?
    Commercial land - Development site in Employment Zoning District with prior approvals for an eight-building mixed-use project.
    Where is this commercial land located?
    The property is located at 165 WATER ST Ashland, OR.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: 1.18‑acre downtown Ashland commercial development site within the Employment Zoning District; Prior approvals include architectural, engineering, landscaping, utility, and entitlement plans for an 8‑building mixed‑use project; Project plans call for ground‑level commercial spaces with luxury residences above
    (541) 301-3435 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Patie Millen
    Patie Millen
    Real Estate License ID: OR 940200113
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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