Single-Level Office
For Sale
$739,000
Pending
206 NE 7th Street, Grants Pass, OR 97526
COMMERCIAL - Grants Pass, OR
Property Size4,656 SF
Lot Size0.22 Acres
Days on Market540
Property Features for 206 NE 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Cbd; Central Bus Dist
Parking features
Parking Lot, Alley
Security features
Security System
Interior features
Built-in Features, Ceiling Fan(s)
Subdivision
Grants Pass Original Townsite
Lot features
Corner Lot, Level
Standard status
Pending
APN
R310400
Size
4,656 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7656
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
conference rooms
cubicles
private offices
large windows
flexible spaces
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Flooring type
Laminate, Carpet, Tile
Building materials
Block, Brick, Concrete
Roof type
Built-Up
Listing Agency:
Keller Williams Realty Southern Oregon
(541) 608-0447
Listed By:
Melissa Hayes · License #201251085
(541) 450-4442
Added: Feb 17, 2025
Changed: Aug 4
Last Checked: Aug 11 at 3:06PM
MLS# 220195953
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.
Single-level professional office/retail building in Grants Pass featuring multiple conference rooms plus a mix of cubicles and private offices. The space includes large windows for natural light and flexible rooms suited for professional or retail use. Interior finishes include carpet, tile, and laminate, with built-in features and ceiling fans. The building has natural gas heating and heat pump cooling, and a built-up roof. Constructed with block, brick, and concrete.
The property sits on a 0.22-acre site with parking for 16 vehicles in an on-site parking lot with alley access. It is positioned in the Central Business District with signage and visibility along 7th Street, and easy access to major thoroughfares including I-5 and U.S. Route 199, placing it within blocks of Historic Downtown Grants Pass shops and services.
Built in 1956, this 4,656-square-foot building at 206 NE 7th Street is designed to support a variety of office and storefront layouts.
The property sits on a 0.22-acre site with parking for 16 vehicles in an on-site parking lot with alley access. It is positioned in the Central Business District with signage and visibility along 7th Street, and easy access to major thoroughfares including I-5 and U.S. Route 199, placing it within blocks of Historic Downtown Grants Pass shops and services.
Built in 1956, this 4,656-square-foot building at 206 NE 7th Street is designed to support a variety of office and storefront layouts.
Key Highlights
- 4,656 SF single‑level office/retail building built in 1956
- 0.22‑acre site with alley‑access parking lot
- 16 on‑site parking spaces
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
$53,092
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
7.18%
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%
$1,061,840
$1.1M
Cap Rate 7%
$758,457
$758.5K
Cap Rate 9%
$589,911
$589.9K
Market Conditions
NOI Build-Up for 4,656 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
$78.2K $16.80/SF
− Vacancy
−$7.4K −$1.60/SF
EGI
$70.8K $15.20/SF
− OpEx
−$17.7K −$3.80/SF
NOI
$53.1K $11.40/SF
Area
Josephine County, OR
Vacancy
9.50%
Lease Rate
$16.80 /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%
$1,061,840
Cap Rate 7%
$758,457
Cap Rate 9%
$589,911
Alternative Uses
Best Use
Office B
$758.5K
$663.7K – $884.9K
NOI $53,092 @ 7.0% cap · market cap 7.18%
Second Best
Retail
$577.7K
$505.5K – $674.0K
NOI $40,440 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.06M
$923.7K – $1.23M
NOI $73,899 @ 7.0% cap · market cap 10.00%
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
892
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-level office/retail building with multiple conference rooms and 16 on-site parking spaces.
Where is this office building located?
The property is located at 206 NE 7th Street Grants Pass, OR.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 4,656 SF single‑level office/retail building built in 1956; 0.22‑acre site with alley‑access parking lot; 16 on‑site parking spaces
