Grants Pass Redevelopment
700 NW Dimmick St, Grants Pass, OR 97526
For Sale
Contact for pricing
2.27-acre redevelopment opportunity with existing office building in Grants Pass.
Property Size8,764 SF
Lot Size2.27 Acres
Price / SF$133.50
Days on Market732
Property Features for 700 NW Dimmick St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Investment Type
Building Details
Year Built
Buildings
Stories
Units
Listing Agency:
Merit Commercial Real Estate
Listed By:
Scott King · License OR #200602153
(541) 890-6708
Source:
Crexi
Added: Nov 9, 2024
Changed: Oct 25
Last Checked: Aug 14 at 5:59AM
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 Merit Commercial Real Estate
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Investment Insights
Based on property information with market context.
Located in Grants Pass, Oregon, the property at 700 NW Dimmick Street presents a 2.27-acre redevelopment opportunity. The site includes an existing two-story, approximately 8,764 square foot concrete office building, currently housing the Josephine County Planning Office on the first floor, with additional county users occupying office space on the second floor. The building is in usable condition and features abundant parking, greenery, skylights, and views of the surrounding mountains. The property is zoned for residential use, presenting a compelling opportunity to develop multifamily or mixed-use projects. The seller has agreed to leaseback all or part of the site for up to 12 months. Developers are encouraged to present any reasonable proposal for the selling entity's consideration.
Key Highlights
- 2.27 acre redevelopment opportunity in Grants Pass, Oregon.
- Zoned for multifamily or mixed‑use development in a supply‑constrained market.
- Existing ± 8,764 SF concrete office building is fully usable.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,613
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,572,260
$1.6M
Cap Rate 7%
$1,123,043
$1.1M
Cap Rate 9%
$873,478
$873.5K
Market Conditions
NOI Build-Up for 8,764 SF
Gross rent
$136.7K $15.60/SF
− Vacancy
−$10.9K −$1.25/SF
EGI
$125.8K $14.35/SF
− OpEx
−$47.2K −$5.38/SF
NOI
$78.6K $8.97/SF
Area
Josephine County, OR
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,572,260
Cap Rate 7%
$1,123,043
Cap Rate 9%
$873,478
Alternative Uses
Best Use
Mixed Use
$1.12M
$982.7K – $1.31M
NOI $78,613 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,099 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
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Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 2.27-acre redevelopment opportunity with existing office building in Grants Pass.
Where is this residential land & home lot located?
The property is located at 700 NW Dimmick St Grants Pass, OR.
What is the asking price?
The asking price for this property is $1,170,000.
What are key features of this property?
This property features: 2.27 acre redevelopment opportunity in Grants Pass, Oregon.; Zoned for multifamily or mixed‑use development in a supply‑constrained market.; Existing ± 8,764 SF concrete office building is fully usable.
