Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Ashland Commercial Development Land Title is generated by Realmo AI

    165 Water Street, Ashland, OR 97520

    View on Map
    Claim this Listing
    New
    For Sale
    $4,000,000

    COMMERCIAL - Ashland, OR

    Lot size:
    1.18 Acres
    Added:
    May 27, 2026
    Days on Market:
    1
    Last Refresh:
    May 27 at 9:06 pm

    Property Features for 165 Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Fencing
    Perimeter
    Standard status
    Active
    APN
    10049860
    Lot size
    1.18 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7760

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Patricia Millen

    Listing agent Patricia Millen License #940200113

    Listing office Millen Property Group 545 A Street, Ste 2, Ashland, OR

    Listing date May 27, 2026

    MLS# 220222181 Listing URL

    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.

    HighLights

    • 1.18‑acre commercial development site, a rare opportunity of this scale in downtown Ashland.
    • Located one block from Ashland's Plaza with exceptional visibility and walkability.
    • Zoned for Employment, allowing hotel, conference center, mixed‑use, residential, retail, or office development.
    • Extensive prior approvals in place for an 8‑building mixed‑use project (ground‑level commercial, luxury residences).
    • Approvals valid until Summer 2026, with potential for renewal.
    • Utilities available: Cable, Public Water, and Public Sewer.

    Overview

    This 1.18-acre commercial development site is located one block from Ashland's Plaza. Situated in the downtown corridor, the property is zoned for Employment, offering potential for hotel, conference center, mixed-use, luxury residential, retail, offices, or destination development. Prior approvals include architectural, engineering, landscaping, utility, and entitlement plans for an 8-building mixed-use project with ground-level commercial spaces and luxury residences. These approvals are set to expire in the Summer of 2026, with potential for renewal. The property offers visibility, street presence, and walkability to the Plaza, restaurants, theaters, galleries, and Lithia Park.
    Property Profile 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
    -122.714386
    Latitude
    42.200881

    Nearby Similar for Sale

    • $550,000
      4,390 SF

      Ashland Commercial Building For Sale

      4,393 SF Ashland building suitable for multiple uses.
      400 Williamson Way, Ashland, OR 97520
      View Details
    • $795,000

      Ashland Commercial Land For Sale

      3.57-acre commercial lot with versatile zoning near I-5.
      799 E Jefferson Avenue, Ashland, OR 97520
      View Details
    • $149,000

      Turnkey Restaurant Opportunity in Ashland

      Fully operational restaurant with residential space and strong revenue.
      1667 Siskiyou Boulevard, Ashland, OR 97520
      View Details
    • $760,000
      3,850 SF

      Downtown Ashland Commercial Building For Sale

      Versatile commercial building in downtown Ashland near Oregon Shakespeare Festival.
      116 Lithia Way, Ashland, OR 97520
      View Details
    • $855,000
      1,440 SF

      Ashland Duplex: Investment Opportunity

      Well-maintained duplex in Ashland with redevelopment potential.
      128 S Mountain Avenue, Ashland, OR 97520
      View Details
    • $2,250,000
      12,852 SF

      Ashland Motel with Restaurant Space

      44-room motel with restaurant space and mountain views.
      50 Lowe Road, Ashland, OR 97520
      View Details
    • $1,150,000
      3,539 SF

      Established Restaurant on Highway 99

      Turnkey Mexican restaurant with real estate in thriving Ashland location.
      1633 N Hwy 99, Ashland, OR 97520
      View Details
    • $300,000

      Iconic Ashland Restaurant Opportunity

      Established restaurant with loyal customer base and outdoor seating.
      84 N Main Street, Ashland, OR 97520
      View Details
    • $1,500,000
      4,000 SF

      Ashland Vacant Land with Entitlements

      349 acres in Ashland, Oregon with youth camp approval.
      2829 Buckhorn Springs Road, Ashland, OR 97520
      View Details
    • $950,000
      3,277 SF

      Historic Ashland Multifamily Residence

      Renovated historic residence with detached permitted ARU in downtown Ashland.
      19 Gresham Street, Ashland, OR 97520
      View Details
    • $2,250,000
      11,208 SF

      Ashland Multifamily Investment Opportunity

      Rare 10-unit property near downtown Ashland with financing options.
      230 Grant Street, Ashland, OR 97520
      View Details
    • $525,000

      Ashland Development Property with Views

      5.5 acres of split-zoned land with potential homesites.
      Pape Street, Ashland, OR 97520
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.18-acre commercial development site, one block from Ashland's Plaza.
    Where is this commercial land located?
    The property is located at 165 Water Street 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 commercial development site, a rare opportunity of this scale in downtown Ashland.; Located one block from Ashland's Plaza with exceptional visibility and walkability.; Zoned for Employment, allowing hotel, conference center, mixed‑use, residential, retail, or office development.
    (541) 301-3435
    We can help!
    Listing Contact
    Patricia Millen
    Real Estate License ID: 940200113
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    165 Water Street, Ashland, OR 97520
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!