Freestanding Two-Story Office
For Sale
$395,000
735 Se 7th St, Grants Pass, OR 97526
Two-story office with multiple private offices, flexible bullpen space, and dedicated paved parking with street frontage.
Property Size2,184 SF
Price / SF$180.86
Days on Market86
Property Features for 735 Se 7th St
General Information
Standard status
Active
Size
2,184 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,610
Building Details
Stories
2
Listing Agency:
Merit Commercial RE, LLC
(541) 608-6704
Listed By:
Caspian C Hoehne · License #OREGON200602153
Source:
Exprealty
Added: May 31
Changed: Aug 23
Last Checked: Aug 24 at 1:06PM
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 RE, LLC
Investment Insights
Based on property information with market context.
This freestanding, two-story professional office building offers a flexible interior layout designed for a range of tenant needs. The building includes a glass storefront-style entry into a bright lobby with a reception/flex area. The first floor also features a restroom, a large bullpen-style office that could support conference or event use, and additional storage and networking closet space. On the second floor, there are five private offices, a full restroom with shower, and more storage. The exterior is stucco over a mix of CMU and wood-frame structural walls, with minimal deferred maintenance reported. A flat roof in fair condition supports a large lighted sign facing SE 7th Street and a packaged RTU for the building’s HVAC.
The property has approximately 48 feet of owned street frontage on SE 7th Street, described as a high-traffic arterial in Grants Pass, Oregon, providing visibility and straightforward access. A dedicated, deeded paved parking lot includes several spaces and two private driveways to and from SE 7th Street. The surrounding area includes a mix of commercial uses, and the property is described as being close to downtown Grants Pass, with an approximately 7-minute drive to Interstate 5 access.
For owner-users, the building’s standalone configuration and on-site parking support day-to-day operations from a dedicated headquarters. The combination of private offices, a reception/flex area, and a larger open bullpen-style space can accommodate both standard office use and meetings, training, or event-style gatherings. Buyer is responsible for all due diligence; contact the listing brokers to schedule a private tour.
The property has approximately 48 feet of owned street frontage on SE 7th Street, described as a high-traffic arterial in Grants Pass, Oregon, providing visibility and straightforward access. A dedicated, deeded paved parking lot includes several spaces and two private driveways to and from SE 7th Street. The surrounding area includes a mix of commercial uses, and the property is described as being close to downtown Grants Pass, with an approximately 7-minute drive to Interstate 5 access.
For owner-users, the building’s standalone configuration and on-site parking support day-to-day operations from a dedicated headquarters. The combination of private offices, a reception/flex area, and a larger open bullpen-style space can accommodate both standard office use and meetings, training, or event-style gatherings. Buyer is responsible for all due diligence; contact the listing brokers to schedule a private tour.
Key Highlights
- 2,184 SF, two‑story conventional office building built in 1958 with stucco exterior
- Freestanding building with bright lobby plus reception/flex area and large bullpen‑style office (conference/event room potential)
- Second floor includes five private offices, a full restroom with shower, and additional storage
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
$24,904
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
6.30%
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%
$498,080
$498.1K
Cap Rate 7%
$355,771
$355.8K
Cap Rate 9%
$276,711
$276.7K
Market Conditions
NOI Build-Up for 2,184 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
$36.7K $16.80/SF
− Vacancy
−$3.5K −$1.60/SF
EGI
$33.2K $15.20/SF
− OpEx
−$8.3K −$3.80/SF
NOI
$24.9K $11.40/SF
Area
Josephine County, OR
Vacancy
9.50%
Lease Rate
$16.80 /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%
$498,080
Cap Rate 7%
$355,771
Cap Rate 9%
$276,711
Alternative Uses
Best Use
Office B
$355.8K
$311.3K – $415.1K
NOI $24,904 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$495.2K
$433.3K – $577.7K
NOI $34,664 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,176
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office with multiple private offices, flexible bullpen space, and dedicated paved parking with street frontage.
Where is this office building located?
The property is located at 735 Se 7th St Grants Pass, OR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,184 SF, two‑story conventional office building built in 1958 with stucco exterior; Freestanding building with bright lobby plus reception/flex area and large bullpen‑style office (conference/event room potential); Second floor includes five private offices, a full restroom with shower, and additional storage
