Corner-Lot Office
233 NE B Street, Grants Pass, OR 97526
For Sale
$597,000
Commercial Sale, Grants Pass, OR
Property Size4,800 SF
Lot Size0.23 Acres
Price / SF$124.38
Days on Market334
Property Features for 233 NE B Street
General Information
Property type
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Zoning description
Parking features
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Interior features
Subdivision
Lot features
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APN
Size
Lot size
Additional Details
Tenant in Place
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Taxes and HOA fees
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Tax Annual Amount
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Building Details
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Floors in Building
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Buildings
Listing Agency:
John L Scott Real Estate Grants Pass · John L. Scott
(541) 476-1299
Listed By:
Anne Anderson · License OR #200802201
(541) 659-2662
Added: Dec 11, 2025
Changed: Oct 27
Last Checked: Nov 9 at 9:06PM
MLS# 220212840
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.
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Investment Insights
Based on property information with market context.
This 4,800-square-foot office building occupies a 0.23-acre corner lot and provides a two-level configuration suited to professional office operations. A shared vestibule connects the upper and lower floors, with an exterior staircase providing additional access. The ground floor includes a private lobby, private and shared offices, a restroom, and storage. Upper-level improvements include additional office suites, restrooms, a lunchroom, and substantial storage space.
Built in 1976, the property features brick construction, tile and carpet flooring, heat-pump heating and cooling, a composition roof, and public water and sewer service. Parking includes a 13-space lot, with additional nearby parking noted. Existing leases are in place, and the building is located at 233 NE B Street in Grants Pass, Oregon.
Built in 1976, the property features brick construction, tile and carpet flooring, heat-pump heating and cooling, a composition roof, and public water and sewer service. Parking includes a 13-space lot, with additional nearby parking noted. Existing leases are in place, and the building is located at 233 NE B Street in Grants Pass, Oregon.
Key Highlights
- 4,800 square feet of office space on a 0.23‑acre corner lot
- 13 on‑site parking spaces, with additional parking nearby
- Two‑level layout with separate upper- and lower‑floor access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,734
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,680
$1.1M
Cap Rate 7%
$781,914
$781.9K
Cap Rate 9%
$608,156
$608.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$80.6K $16.80/SF
− Vacancy
−$7.7K −$1.60/SF
EGI
$73.0K $15.20/SF
− OpEx
−$18.2K −$3.80/SF
NOI
$54.7K $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 Rate 5%
$1,094,680
Cap Rate 7%
$781,914
Cap Rate 9%
$608,156
Alternative Uses
Best Use
Office B
$781.9K
$684.2K – $912.2K
NOI $54,734 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$952.3K – $1.27M
NOI $76,184 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
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Location Intelligence
Trade Area within ½ mile
2,228
Businesses Nearby
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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
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Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-level professional office property with private suites, shared offices, storage, and on-site parking.
Where is this office building located?
The property is located at 233 NE B Street Grants Pass, OR.
What is the asking price?
The asking price for this property is $597,000.
What are key features of this property?
This property features: 4,800 square feet of office space on a 0.23‑acre corner lot; 13 on‑site parking spaces, with additional parking nearby; Two‑level layout with separate upper- and lower‑floor access
