Ground-Floor Medical Office
For Sale
$1,700,000
1661 Highway 99 N, Ashland, OR 97520
Ground-floor condominium suite with a functional clinical layout for medical operations.
Property Size6,448 SF
Price / SF$263.65
Days on Market17
Property Features for 1661 Highway 99 N
General Information
Standard status
Active
Size
6,448 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
Ground Floor
Taxes and HOA fees
Annual Taxes
$20,680
Building Details
Year Built
2008
Listing Agency:
VI Commercial Real Estate LLC
(541) 944-2381
Listed By:
Wade A Six
(541) 944-2381
Source:
Exprealty
Added: Aug 4
Changed: Aug 14
Last Checked: Aug 19 at 11:36AM
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 VI Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
The 6,448-square-foot ground-floor condominium suite is configured for medical operations, with 11 exam rooms, two procedure rooms, an X-ray room, reception, and additional private offices. The space offers an established clinical layout and was previously occupied by Providence Health & Services and Davita Dialysis. The building was developed in 2008 and is professionally managed.
The property fronts Highway 99, Ashland’s main thoroughfare, which records 17,467 VPD. Interstate 5 is less than one mile away, providing convenient regional access. The suite is located within a medical office building serving the Ashland market.
The property fronts Highway 99, Ashland’s main thoroughfare, which records 17,467 VPD. Interstate 5 is less than one mile away, providing convenient regional access. The suite is located within a medical office building serving the Ashland market.
Key Highlights
- 6,448 SF ground‑floor medical condominium suite
- 11 exam rooms, 2 procedure rooms, and 1 X‑Ray room
- Reception area plus additional private offices
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
$93,490
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
5.50%
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%
$1,869,800
$1.9M
Cap Rate 7%
$1,335,571
$1.3M
Cap Rate 9%
$1,038,778
$1.0M
Market Conditions
NOI Build-Up for 6,448 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
$174.1K $27.00/SF
− Vacancy
−$18.3K −$2.84/SF
EGI
$155.8K $24.17/SF
− OpEx
−$62.3K −$9.67/SF
NOI
$93.5K $14.50/SF
Area
Jackson County, OR
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,869,800
Cap Rate 7%
$1,335,571
Cap Rate 9%
$1,038,778
Alternative Uses
Best Use
Healthcare Medical
$1.34M
$1.17M – $1.56M
NOI $93,490 @ 7.0% cap · market cap 5.50%
Second Best
Office B
$1.13M
$986.6K – $1.32M
NOI $78,924 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,945 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Animal Medical Hospital — 1525 Rogue Valley Hwy 99 N, Ashland, OR 97520
Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground-floor condominium suite with a functional clinical layout for medical operations.
Where is this medical office space located?
The property is located at 1661 Highway 99 N Ashland, OR.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,448 SF ground‑floor medical condominium suite; 11 exam rooms, 2 procedure rooms, and 1 X‑Ray room; Reception area plus additional private offices
