NNN-Leased Bank
For Sale
$3,900,000
601 Crater Lake Avenue, Medford, OR 97504
Recently renovated bank asset is leased to JP Morgan Chase Bank, N.A. on an absolute NNN basis.
Property Size19,548 SF
Days on Market212
Property Features for 601 Crater Lake Avenue
General Information
Standard status
Active
Size
19,548 SF
Property subtype
Commercial
Zoning
C-C
Taxes and HOA fees
Annual Taxes
$60,112
Building Details
Building Size
19,548 SF
Year Built
1974
Stories
2
Units
2
Listing Agency:
RE/MAX Platinum
(541) 613-0372
Listed By:
Mason McKinney · License #201236868
(541) 613-0372
Source:
Allprofessionalsre
Added: Jan 23
Changed: Aug 23
Last Checked: Aug 23 at 3:05AM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
This for-sale bank property is leased to JP Morgan Chase Bank, N.A. under an absolute NNN lease structure. The building has been recently renovated and is situated on a large site, designed to provide stable, institutionally backed tenancy with minimal management. The offering also references potential for future activation of the lower level or owner use, as described in the public remarks.
The property is located at 601 Crater Lake Ave in Medford, Oregon.
Per the available information, the asset is presented as an investment-focused opportunity with durable income supported by the current bank tenant, along with value-creation themes tied to additional on-site activation opportunities referenced by the seller. All prospective buyers and advisors are encouraged to independently verify all facts and related financial details.
The property is located at 601 Crater Lake Ave in Medford, Oregon.
Per the available information, the asset is presented as an investment-focused opportunity with durable income supported by the current bank tenant, along with value-creation themes tied to additional on-site activation opportunities referenced by the seller. All prospective buyers and advisors are encouraged to independently verify all facts and related financial details.
Key Highlights
- Bank asset recently renovated
- Leased to JP Morgan Chase Bank, N.A.
- Absolute NNN lease structure
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
$288,859
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
7.41%
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%
$5,777,180
$5.8M
Cap Rate 7%
$4,126,557
$4.1M
Cap Rate 9%
$3,209,544
$3.2M
Market Conditions
NOI Build-Up for 19,548 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
$429.3K $21.96/SF
− Vacancy
−$44.1K −$2.26/SF
EGI
$385.1K $19.70/SF
− OpEx
−$96.3K −$4.93/SF
NOI
$288.9K $14.78/SF
Area
Jackson County, OR
Vacancy
10.28%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$5,777,180
Cap Rate 7%
$4,126,557
Cap Rate 9%
$3,209,544
Alternative Uses
Best Use
Specialty Retail
$4.13M
$3.61M – $4.81M
NOI $288,859 @ 7.0% cap · market cap 7.41%
Second Best
Retail
$3.86M
$3.38M – $4.51M
NOI $270,443 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$4.72M
$4.13M – $5.50M
NOI $330,283 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,238
Businesses Nearby
428k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Dining 24%
Apparel 15%
Leisure 13%
Cinemark Tinseltown USA
Leisure
56,946 visits/mo
0.3 miles
Safeway
Groceries
39,088 visits/mo
0.2 miles
Burlington
Apparel
37,487 visits/mo
0.4 miles
Big Lots
Superstores
28,312 visits/mo
0.4 miles
Dollar Tree
Shops & Services
24,810 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Recently renovated bank asset is leased to JP Morgan Chase Bank, N.A. on an absolute NNN basis.
Where is this bank located?
The property is located at 601 Crater Lake Avenue Medford, OR.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Bank asset recently renovated; Leased to JP Morgan Chase Bank, N.A.; Absolute NNN lease structure
