Live-Work Space with Industrial
New
For Sale
$299,000
2693 Pleasant Valley Road, Merlin, OR 97532
Commercial Sale, Merlin, OR
Property Size2,476 SF
Lot Size0.57 Acres
Price / SF$120.76
Days on Market2
Property Features for 2693 Pleasant Valley Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Ri; Rural Indust
Parking features
Gated, Driveway, Carport
Lot features
Corner Lot
Directions
SW corner of Pleasant Valley and Monument Drive. Actual physical access is through a locked gate on Pleasant Valley.
Standard status
Active
APN
R303243
Size
2,476 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
805
Utilities
Sewer type
Septic Tank
Heating system
Wood
Water source
Well
Building Details
Year built
1955
Floors in Building
1
Flooring type
Concrete
Building materials
Frame
Roof type
Composition
Listing Agency:
John L Scott Real Estate Grants Pass · John L. Scott
(541) 476-1299
Listed By:
Dan T Heater · License #790200131
(541) 441-1391
Added: Sep 26
Last Checked: Sep 27 at 1:06PM
MLS# 220229233
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.
This 2,476-square-foot live-work property sits on 0.57 acres and includes an apartment with a bedroom, kitchen, and three-quarter bath. The main shop has ceilings over 16 feet, a tall roll-up door, and a heavy-duty hoist on steel rails that run the length of the building. A second shop area has 12-foot ceilings and its own roll-up door, opening to a covered, slab-floored area. The property is zoned Rural Industrial and was built in 1955.
Power includes three-phase service. The building has concrete flooring, wood heat, and a composition roof; water is supplied by a well, and the property uses a septic system. Gated driveway and carport parking are also present.
Power includes three-phase service. The building has concrete flooring, wood heat, and a composition roof; water is supplied by a well, and the property uses a septic system. Gated driveway and carport parking are also present.
Key Highlights
- 2,476‑square‑foot building on 0.57 acres
- Main shop has 16+ft ceiling, tall roll‑up door, and heavy‑duty hoist on steel rails
- Attached shop room has 12 ft ceilings and a roll‑up door
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
$22,210
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
7.43%
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%
$444,200
$444.2K
Cap Rate 7%
$317,286
$317.3K
Cap Rate 9%
$246,778
$246.8K
Market Conditions
NOI Build-Up for 2,476 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
$38.6K $15.60/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$35.5K $14.35/SF
− OpEx
−$13.3K −$5.38/SF
NOI
$22.2K $8.97/SF
Area
Josephine County, OR
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$444,200
Cap Rate 7%
$317,286
Cap Rate 9%
$246,778
Alternative Uses
Best Use
Office B
$403.3K
$352.9K – $470.6K
NOI $28,234 @ 7.0% cap · market cap 9.44%
Second Best
Mixed Use
$317.3K
$277.6K – $370.2K
NOI $22,210 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$561.4K
$491.2K – $655.0K
NOI $39,298 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Live-work space - A separate apartment and shop areas support working and living on one property.
Where is this live-work space located?
The property is located at 2693 Pleasant Valley Road Merlin, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,476‑square‑foot building on 0.57 acres; Main shop has 16+ft ceiling, tall roll‑up door, and heavy‑duty hoist on steel rails; Attached shop room has 12 ft ceilings and a roll‑up door
