Neighborhood Retail Center with 12
For Sale
$2,400,000
602 Crater Lake Avenue, Medford, OR 97504
COMMERCIAL - Medford, OR
Property Size13,683 SF
Lot Size1.19 Acres
Price / SF$175.40
Days on Market103
Property Features for 602 Crater Lake Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-C
Parking features
Parking Lot
Standard status
Active
APN
10329854
Size
13,683 SF
Lot size
1.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22906
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
12
Flooring type
Carpet, Tile
Building materials
Block, Concrete
Roof type
Membrane
Listing Agency:
John L. Scott Medford
(541) 779-3611
Listed By:
James E North · License #200310092
(541) 734-5280
Added: Apr 22
Changed: Jul 9
Last Checked: Aug 2 at 12:06PM
MLS# 220219825
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.
Shamrock Square is a well-maintained neighborhood retail center comprising three single-level buildings totaling approximately 13,700 square feet across three tax lots. The center is currently home to 12 tenants.
The property is located at the corner of Stevens Street and Crater Lake Avenue near The Medford Center and The Village at the Medford Center, two of Medford’s major shopping centers.
The current gross tenants’ leases run through 2027, providing a buyer the opportunity to renegotiate rents. Gross income for year-end 2025 was $193,700, with net operating income of $122,809. Please do not disturb tenants; tours of tenant spaces can be arranged upon an acceptable offer.
The property is located at the corner of Stevens Street and Crater Lake Avenue near The Medford Center and The Village at the Medford Center, two of Medford’s major shopping centers.
The current gross tenants’ leases run through 2027, providing a buyer the opportunity to renegotiate rents. Gross income for year-end 2025 was $193,700, with net operating income of $122,809. Please do not disturb tenants; tours of tenant spaces can be arranged upon an acceptable offer.
Key Highlights
- Neighborhood retail center: 3 single‑level buildings totaling approx. 13,700 SF on 1.19 acres (3 tax lots).
- 12 tenants in place with current gross tenants’ leases running through 2027; buyer may renegotiate rents.
- 2025 gross income reported as $193,700 and net operating income as $122,809.
Financial Insights For Retail
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 | $295.6k | $21.60 |
| − Vacancy | −$25.1k | −$1.84 |
| EGI | $270.4k | $19.76 |
| − OpEx | −$81.1k | −$5.93 |
| NOI | $189.3k | $13.83 |
13,683 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.70M
$2.37M – $3.16M
NOI $189,302 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,188 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
230k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Shops & Services 29%
Dining 19%
Home Improvements & Furnishings 2%
Walmart
Superstores
115,097 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
49,666 visits/mo
0.3 miles
McDonald's
Dining
21,042 visits/mo
0.4 miles
Outback Steakhouse
Dining
10,704 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
8,011 visits/mo
0.1 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.
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Frequently Asked Questions
What type of property is this?
Shopping center - Well-maintained neighborhood retail center with three single-level buildings and 12 tenants on three tax lots.
Where is this shopping center located?
The property is located at 602 Crater Lake Avenue Medford, OR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Neighborhood retail center: 3 single‑level buildings totaling approx. 13,700 SF on 1.19 acres (3 tax lots).; 12 tenants in place with current gross tenants’ leases running through 2027; buyer may renegotiate rents.; 2025 gross income reported as $193,700 and net operating income as $122,809.
