Flex Industrial
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For Sale
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3755 Crater Lake Highway, Medford, OR 97504
Flexible commercial building with showroom, offices, warehouse storage, mezzanine space, and grade-level loading access.
Property Size8,908 SF
Lot Size0.89 Acres
Price / SF$202.07
Days on Market6
Property Features for 3755 Crater Lake Highway
General Information
Standard status
Active
Size
8,908 SF
Total Parking Spaces
32
Lot size
0.89 Acres
Property subtype
Retail, Industrial, Mixed Use
Zoning
I-G
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Building Details
Year Built
2000
Buildings
1
Stories
2
Units
1
Construction
CMU and steel-frame
Listing Agency:
Merit Commercial Real Estate
(541) 608-6704
Listed By:
Scott King · License #Oregon 200602153
Source:
Crexi
Added: Aug 2
Changed: Aug 5
Last Checked: Aug 6 at 2:19PM
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.
This flex industrial property occupies a 0.89-acre parcel and includes a fully fire-sprinkled CMU and steel-frame building with a standing seam metal roof and slab foundation. The first floor provides an ±8,015 SF layout with an open sales area, three private offices, a storage/mechanical room, two restrooms, industrial shelving, and a designated loading area. A 10-foot-wide by 12-foot-high grade-level drive-in overhead door supports deliveries and materials handling. The upper level combines approximately 893 SF of finished offices and break room space with well over 2,000 SF of shelving-supported catwalk mezzanine area, plus a kitchenette and additional offices.
Paved exterior areas include a front lot with ±12 customer parking spaces and a rear lot with room for ±20 vehicles. A fully fenced gravel yard west of the building is currently leased to a towing company. The property has ±85 feet of direct frontage on Crater Lake Highway, a high-traffic commercial arterial, and is positioned within a corridor containing retail, office, automotive, and industrial properties. Zoning is I-G.
Paved exterior areas include a front lot with ±12 customer parking spaces and a rear lot with room for ±20 vehicles. A fully fenced gravel yard west of the building is currently leased to a towing company. The property has ±85 feet of direct frontage on Crater Lake Highway, a high-traffic commercial arterial, and is positioned within a corridor containing retail, office, automotive, and industrial properties. Zoning is I-G.
Key Highlights
- ±8,015 SF first‑floor building envelope with showroom, offices, restrooms, storage, and warehouse shelving
- Well over 2,000 SF of shelving‑supported catwalk mezzanine storage
- ±85' of direct Crater Lake Highway frontage with a two‑sided monument sign
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
$123,240
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
6.85%
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%
$2,464,800
$2.5M
Cap Rate 7%
$1,760,571
$1.8M
Cap Rate 9%
$1,369,333
$1.4M
Market Conditions
NOI Build-Up for 8,908 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
$192.4K $21.60/SF
− Vacancy
−$16.4K −$1.84/SF
EGI
$176.1K $19.76/SF
− OpEx
−$52.8K −$5.93/SF
NOI
$123.2K $13.83/SF
Area
Jackson County, OR
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,464,800
Cap Rate 7%
$1,760,571
Cap Rate 9%
$1,369,333
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $123,240 @ 7.0% cap · market cap 6.85%
Second Best
Flex RnD
$1.16M
$1.02M – $1.35M
NOI $81,208 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,510 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97504, OR
49,942
Population
21,290
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
43.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$81,233
Median Household Income
$43,744
Median Earnings
$1,387
Median Rent
$447,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with showroom, offices, warehouse storage, mezzanine space, and grade-level loading access.
Where is this flex space located?
The property is located at 3755 Crater Lake Highway Medford, OR.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: ±8,015 SF first‑floor building envelope with showroom, offices, restrooms, storage, and warehouse shelving; Well over 2,000 SF of shelving‑supported catwalk mezzanine storage; ±85' of direct Crater Lake Highway frontage with a two‑sided monument sign
