3-Unit Mixed-Use
For Sale
$730,000
5229 Redwood Ave, Grants Pass, OR 97527
A standalone general store shares the building with a recently improved commercial space and a separate residential unit.
Property Size5,064 SF
Lot Size1.22 Acres
Price / SF$144.15
Days on Market20
Property Features for 5229 Redwood Ave
General Information
Standard status
Active
Size
5,064 SF
Total Parking Spaces
11
Lot size
1.22 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Mixed-Use Components
retail, residential
Currently Operating
Yes
Amenities
large walk-in cooler
mailbox service
ATM machine
acreage to expand
Building Details
Year Built
1971
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty Southern Oregon
Listed By:
Melissa Hayes · License #201251085
(206) 914-4470
Source:
Portlandoregonhomelistings
Added: Oct 13
Changed: Oct 31
Last Checked: Nov 1 at 6:03AM
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 Keller Williams Realty Southern Oregon
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Investment Insights
Based on property information with market context.
This single-level, 5,064-SF property on 1.22 acres brings together three occupancy areas. The operating general store includes a large walk-in cooler, ATM machine, and mailbox service. A separate commercial unit has received recent improvements and is vacant. The rear accessory dwelling unit is also vacant; it has two bedrooms, one bathroom, a private entrance, and dedicated parking. The building was constructed in 1971.
The site at 5229 Redwood Ave in Grants Pass, Oregon, has 11 asphalted parking spaces. The property is associated with the Jerome Prairie Community Market. The vacant commercial area could accommodate a café, food service, or specialty retail concept, subject to the intended use and applicable approvals. Oregon Lottery sales are another possibility, subject to licensing and approval.
The site at 5229 Redwood Ave in Grants Pass, Oregon, has 11 asphalted parking spaces. The property is associated with the Jerome Prairie Community Market. The vacant commercial area could accommodate a café, food service, or specialty retail concept, subject to the intended use and applicable approvals. Oregon Lottery sales are another possibility, subject to licensing and approval.
Key Highlights
- 5,064 SF single‑level building with three occupancy areas
- 1.22‑acre site at 5229 Redwood Ave, Grants Pass, OR 97527
- Operating general store with large walk‑in cooler, ATM machine, and mailbox service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,713
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,260
$1.2M
Cap Rate 7%
$824,471
$824.5K
Cap Rate 9%
$641,256
$641.3K
Market Conditions
NOI Build-Up for 5,064 SF
Gross rent
$82.0K $16.20/SF
− Vacancy
−$5.1K −$1.00/SF
EGI
$77.0K $15.20/SF
− OpEx
−$19.2K −$3.80/SF
NOI
$57.7K $11.40/SF
Area
Josephine County, OR
Vacancy
6.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,260
Cap Rate 7%
$824,471
Cap Rate 9%
$641,256
Alternative Uses
Best Use
Specialty Retail
$824.5K
$721.4K – $961.9K
NOI $57,713 @ 7.0% cap · market cap 7.91%
Second Best
Mixed Use
$648.9K
$567.8K – $757.1K
NOI $45,424 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,374 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
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Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A standalone general store shares the building with a recently improved commercial space and a separate residential unit.
Where is this mixed-use property located?
The property is located at 5229 Redwood Ave Grants Pass, OR.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 5,064 SF single‑level building with three occupancy areas; 1.22‑acre site at 5229 Redwood Ave, Grants Pass, OR 97527; Operating general store with large walk‑in cooler, ATM machine, and mailbox service
