Three-Story Apartment
For Sale
Contact for pricing
316 South Front Street, Medford, OR 97501
Shell-condition property with seismic retrofitting, public utilities, and C-H zoning supporting multifamily development.
Property Size3,484 SF
Price / SF$111.94
Days on Market8
Property Features for 316 South Front Street
General Information
Standard status
Active
Size
3,484 SF
Class
C
Property subtype
Multifamily, Special Purpose
Zoning
C-H
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Buildings
1
Stories
3
Units
1
Listing Agency:
Merit Commercial Real Estate
(541) 608-6704
Listed By:
Scott King · License #Oregon 200602153
Source:
Crexi
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 6 at 3:58AM
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 Merit Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 316 South Front Street, this three-level building contains 3,484 SF and is currently in shell condition after substantial cleanout and seismic retrofitting. Earlier development concepts considered an interior-stair walk-up multifamily project with 8 to 16 units across two or three floors, while the existing commercial zoning provides additional flexibility. Multifamily development is identified as a by-right use within Medford’s commercial zoning, subject to buyer verification and project feasibility review.
The property is positioned near Medford’s downtown core, with a bus and Greyhound depot directly across the street. Rogue Community College, the Craterian Theater, Jackson County Circuit Courts, and the Medford Police Department are among the nearby destinations. Public water, sewer, and power are available at the street, with existing service connections within the building. An active CORP railroad line borders the property on its western side.
The property is positioned near Medford’s downtown core, with a bus and Greyhound depot directly across the street. Rogue Community College, the Craterian Theater, Jackson County Circuit Courts, and the Medford Police Department are among the nearby destinations. Public water, sewer, and power are available at the street, with existing service connections within the building. An active CORP railroad line borders the property on its western side.
Key Highlights
- 3,484 SF building spanning three floors
- Shell condition following cleanout and seismic retrofitting
- C‑H Heavy Commercial zoning
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
$32,767
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
8.40%
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%
$655,340
$655.3K
Cap Rate 7%
$468,100
$468.1K
Cap Rate 9%
$364,078
$364.1K
Market Conditions
NOI Build-Up for 3,484 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
$62.7K $18.00/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$59.6K $17.10/SF
− OpEx
−$26.8K −$7.69/SF
NOI
$32.8K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$655,340
Cap Rate 7%
$468,100
Cap Rate 9%
$364,078
Alternative Uses
Best Use
Apartment 5plus
$468.1K
$409.6K – $546.1K
NOI $32,767 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$840.9K
$735.8K – $981.1K
NOI $58,866 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Shell-condition property with seismic retrofitting, public utilities, and C-H zoning supporting multifamily development.
Where is this apartment building located?
The property is located at 316 South Front Street Medford, OR.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 3,484 SF building spanning three floors; Shell condition following cleanout and seismic retrofitting; C‑H Heavy Commercial zoning
