Flex Space with
For Sale
$299,000
604 Franquette Street, Medford, OR 97501
C-H zoned commercial building with shop, office, gated access, parking, and upgraded security features.
Property Size1,264 SF
Days on Market68
Property Features for 604 Franquette Street
General Information
Standard status
Active
Size
1,264 SF
Property subtype
Commercial
Zoning
C-H
Taxes and HOA fees
Annual Taxes
$1,381
Building Details
Building Size
1,264 SF
Year Built
2022
Stories
1
Units
1
Listing Agency:
eXp Realty, LLC
(541) 301-0617
Listed By:
Samuel Martin · License #200107119
(541) 301-0617
Source:
Allprofessionalsre
Added: Jun 24
Changed: Aug 29
Last Checked: Aug 29 at 11:07AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2022, this C-H zoned flex property combines a substantial shop area with a dedicated office, supporting storage, inventory handling, equipment needs, or day-to-day commercial operations. Interior drywall has been updated, and the property includes a newer roof and a security system that remains in place. One full bathroom and one half bath serve the building.
The exterior provides a large parking area for vehicles, customers, employees, or equipment. A gated entrance adds controlled access to the site. Located at 604 Franquette Street in Medford, Oregon, the property offers a practical combination of work, storage, office, and support space within a single commercial building.
The exterior provides a large parking area for vehicles, customers, employees, or equipment. A gated entrance adds controlled access to the site. Located at 604 Franquette Street in Medford, Oregon, the property offers a practical combination of work, storage, office, and support space within a single commercial building.
Key Highlights
- C‑H zoning supports the property's commercial flex‑space classification
- Built in 2022
- Substantial shop area paired with a dedicated office
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
$11,523
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
3.85%
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%
$230,460
$230.5K
Cap Rate 7%
$164,614
$164.6K
Cap Rate 9%
$128,033
$128.0K
Market Conditions
NOI Build-Up for 1,264 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
$19.0K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$17.7K $14.03/SF
− OpEx
−$6.2K −$4.91/SF
NOI
$11.5K $9.12/SF
Area
Jackson County, OR
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$230,460
Cap Rate 7%
$164,614
Cap Rate 9%
$128,033
Alternative Uses
Best Use
Flex RnD
$164.6K
$144.0K – $192.1K
NOI $11,523 @ 7.0% cap · market cap 3.85%
Second Best
Warehouse
$139.8K
$122.4K – $163.2K
NOI $9,789 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$305.1K
$267.0K – $356.0K
NOI $21,357 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Anatomy Coffee Co — Medford, OR 97501
- Jens catering — E 8th St &, S Central Ave, Medford, OR 97501
Frequently Asked Questions
What type of property is this?
Flex space - C-H zoned commercial building with shop, office, gated access, parking, and upgraded security features.
Where is this flex space located?
The property is located at 604 Franquette Street Medford, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: C‑H zoning supports the property's commercial flex‑space classification; Built in 2022; Substantial shop area paired with a dedicated office
