Cannabis Retail Property with Upstairs
For Sale
$350,000
215 Galice Road, Merlin, OR 97532
An unfinished retail interior is paired with a separate upstairs area suitable for living use.
Property Size1,442 SF
Price / SF$242.72
Days on Market242
Property Features for 215 Galice Road
General Information
Standard status
Active
Size
1,442 SF
Property subtype
Commercial
Zoning
CC
Taxes and HOA fees
Annual Taxes
$1,117
Building Details
Building Size
1,442 SF
Year Built
1974
Stories
2
Units
1
Listing Agency:
Keller Williams Realty Southern Oregon
(541) 608-0447
Listed By:
Erik Von Eggers · License #201259625
(503) 487-7204
Source:
Desertskyrealestate
Added: Feb 24
Changed: Oct 23
Last Checked: Oct 23 at 4:29PM
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 Keller Williams Realty Southern Oregon
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Investment Insights
Based on property information with market context.
This 1,442-square-foot commercial property in Merlin includes an upstairs livable area. The interior has an incomplete dispensary build-out, and an active OLCC retail license is in place; the business is not currently operating. The property was previously used as a garden and grow store.
Zoning is CC, and the building dates to 1974.
Zoning is CC, and the building dates to 1974.
Key Highlights
- 1,442‑square‑foot commercial building in Merlin
- Active OLCC retail license; the business is not currently operating
- Unfinished interior build‑out for dispensary use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,525
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,500
$250.5K
Cap Rate 7%
$178,929
$178.9K
Cap Rate 9%
$139,167
$139.2K
Market Conditions
NOI Build-Up for 1,442 SF
Gross rent
$19.0K $13.20/SF
− Vacancy
−$1.1K −$0.79/SF
EGI
$17.9K $12.41/SF
− OpEx
−$5.4K −$3.72/SF
NOI
$12.5K $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 Rate 5%
$250,500
Cap Rate 7%
$178,929
Cap Rate 9%
$139,167
Alternative Uses
Best Use
Retail
$178.9K
$156.6K – $208.8K
NOI $12,525 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.0K
$286.1K – $381.5K
NOI $22,887 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
3,204 visits/mo
0.3 miles
Demographics for 97532, OR
2,480
Population
974
Households
2.5
Avg Household Size
53
Median Age
24%
College-Educated
87%
High-School Grad
84.4 sq mi
ZIP Area
29
Density / Sq Mi
$77,125
Median Household Income
$36,628
Median Earnings
$894
Median Rent
$417,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Cannabis property - An unfinished retail interior is paired with a separate upstairs area suitable for living use.
Where is this cannabis property located?
The property is located at 215 Galice Road Merlin, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,442‑square‑foot commercial building in Merlin; Active OLCC retail license; the business is not currently operating; Unfinished interior build‑out for dispensary use
