Office Building with Corner
515 NE 8th Street Grants Pass, OR 97526
For Sale
$289,000
COMMERCIAL - Grants Pass, OR
Property Size1,440 SF
Lot Size0.14 Acres
Price / SF$200.69
Days on Market50
Property Features for 515 NE 8th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street, Driveway, Alley, Parking Lot
Standard status
Active
APN
R310301
Size
1,440 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2331
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Number of units
1
Flooring type
Carpet, Laminate
Building materials
Frame
Roof type
Composition
Listing Agency:
John L Scott Real Estate Grants Pass
(541) 476-1299
Listed By:
Kurt Tamashiro · License #870600137
(541) 476-1299
Added: Jun 8
Changed: Jul 25
Last Checked: Jul 27 at 2:06PM
MLS# 220222999
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.
For sale office building on a 0.14-acre corner lot with convenient alley access, offering a versatile interior layout totaling approximately 1,440 square feet. The space includes multiple private offices, an expansive open workspace with a cubicle-style layout, and a dedicated break room. HVAC is provided via a heat pump system, and the property also features a backup generator.
Located at 515 NE 8th Street in Grants Pass, Oregon 97526, the building’s prominent corner positioning supports office and other commercial uses that align with its current approvals.
The property is zoned R-3; buyers should check with the City of Grants Pass regarding any potential for conversion. This flexible configuration may suit professional office operations seeking a mix of private and open work areas.
Located at 515 NE 8th Street in Grants Pass, Oregon 97526, the building’s prominent corner positioning supports office and other commercial uses that align with its current approvals.
The property is zoned R-3; buyers should check with the City of Grants Pass regarding any potential for conversion. This flexible configuration may suit professional office operations seeking a mix of private and open work areas.
Key Highlights
- Corner lot with alley access and a versatile office/commercial floor plan with multiple private offices and open workspace
- Heat pump HVAC system with backup generator
- Parking includes on‑street, driveway, parking lot, and alley access
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.2k | $16.80 |
| − Vacancy | −$2.3k | −$1.60 |
| EGI | $21.9k | $15.20 |
| − OpEx | −$5.5k | −$3.80 |
| NOI | $16.4k | $11.40 |
1,440 SF · lease $16.80/SF/yr · vacancy 9.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$234.6K
$205.3K – $273.7K
NOI $16,420 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.5K
$285.7K – $380.9K
NOI $22,855 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Office building on a corner lot with alley access, private offices, open cubicle workspace, break room, heat pump HVAC, generator.
Where is this office building located?
The property is located at 515 NE 8th Street Grants Pass, OR.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Corner lot with alley access and a versatile office/commercial floor plan with multiple private offices and open workspace; Heat pump HVAC system with backup generator; Parking includes on‑street, driveway, parking lot, and alley access
