Flex Space with Gated
For Sale
$306,000
604 Franquette Street, Medford, OR 97501
COMMERCIAL - Medford, OR
Property Size1,264 SF
Lot Size0.16 Acres
Price / SF$242.09
Days on Market48
Property Features for 604 Franquette Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-H
Parking features
Gated
Security features
Security System
Window features
Double Pane Windows
Subdivision
Southsea Addition, First Extension Of
Lot features
Fenced
Standard status
Active
APN
10664416
Size
1,264 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1381
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Ductless (Heating)
Cooling system
Ductless
Water source
Public
Amenities
security system
Building Details
Year built
2022
Floors in Building
1
Number of units
1
Flooring type
Laminate, Concrete
Building materials
Frame
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Samuel Martin · License #200107119
(541) 301-0617
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 10 at 8:06PM
MLS# 220224010
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.
This 1,264-square-foot flex property combines a substantial shop with a dedicated office, providing a practical mix of work and administrative space. The building includes one full bathroom and one-half bath, concrete and laminate flooring, updated interior drywall, a composition roof, and a security system that remains with the property. Heating and cooling are provided by wall furnace and ductless systems.
The 0.16-acre site includes gated parking, public water, and public sewer. Built in 2022 with frame construction, the property is positioned for commercial operations requiring enclosed workspace, storage, equipment handling, or office support. C-H zoning and the shop-office configuration provide a flexible physical layout for the uses described in the property information.
The 0.16-acre site includes gated parking, public water, and public sewer. Built in 2022 with frame construction, the property is positioned for commercial operations requiring enclosed workspace, storage, equipment handling, or office support. C-H zoning and the shop-office configuration provide a flexible physical layout for the uses described in the property information.
Key Highlights
- 1,264‑square‑foot flex property on a 0.16‑acre site
- C‑H zoning with shop and dedicated office areas
- One full bathroom and one‑half bath
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
$15,471
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
5.06%
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%
$309,420
$309.4K
Cap Rate 7%
$221,014
$221.0K
Cap Rate 9%
$171,900
$171.9K
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
$24.3K $19.20/SF
− Vacancy
−$3.6K −$2.88/SF
EGI
$20.6K $16.32/SF
− OpEx
−$5.2K −$4.08/SF
NOI
$15.5K $12.24/SF
Area
Jackson County, OR
Vacancy
15.00%
Lease Rate
$19.20 /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%
$309,420
Cap Rate 7%
$221,014
Cap Rate 9%
$171,900
Alternative Uses
Best Use
Office B
$221.0K
$193.4K – $257.9K
NOI $15,471 @ 7.0% cap · market cap 5.06%
Second Best
Flex RnD
$164.6K
$144.0K – $192.1K
NOI $11,523 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$305.1K
$267.0K – $356.0K
NOI $21,357 @ 7.0% cap · market cap 6.98%
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 Office 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?
Flex space - C-H zoning, a dedicated office, and a substantial shop support varied commercial operations.
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 $306,000.
What are key features of this property?
This property features: 1,264‑square‑foot flex property on a 0.16‑acre site; C‑H zoning with shop and dedicated office areas; One full bathroom and one‑half bath
