General Commercial Land with
For Sale
$399,000
835 union Avenue, Grants Pass, OR 97527
GC-zoned commercial land includes an existing shop for storage or interim workspace.
Property Size1,440 SF
Price / SF$277.08
Days on Market403
Property Features for 835 union Avenue
General Information
Standard status
Active
Size
1,440 SF
Property subtype
General Commercial
Amenities
3
Concrete
Metal
Driveway, Gravel.
2.02
Creek
Creek.
Building Details
Year Built
1986
Stories
1
Listing Agency:
John L. Scott Medford
(541) 779-3611
Listed By:
Martin Outdoor Property Group · License #200706071
(541) 660-5111
Source:
Xome
Added: Jul 30, 2025
Changed: Sep 4
Last Checked: Sep 5 at 4:01AM
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 John L. Scott Medford
Investment Insights
Based on property information with market context.
This 2.02-acre commercial land parcel includes a 1,440-square-foot shop building constructed in 1986. The existing structure has metal construction, concrete interior features, and a gravel driveway, providing space for storage, contractor operations, trades, or interim workspace. The site is zoned General Commercial (GC), with the source information identifying retail, office, multifamily mixed-use, and other commercial applications.
Located at 835 Union Avenue in Grants Pass, the property has just over 600 feet of frontage along Allen Creek and direct access to the Allen Creek Trail. Asante Three Rivers Medical Center is described as being just minutes away. The combination of commercial zoning, an existing shop, creek frontage, and trail access creates a property profile suited to phased development or continued use of the existing improvements.
Located at 835 Union Avenue in Grants Pass, the property has just over 600 feet of frontage along Allen Creek and direct access to the Allen Creek Trail. Asante Three Rivers Medical Center is described as being just minutes away. The combination of commercial zoning, an existing shop, creek frontage, and trail access creates a property profile suited to phased development or continued use of the existing improvements.
Key Highlights
- 2.02‑acre General Commercial (GC) parcel
- 1,440 SF shop building constructed in 1986
- Just over 600 feet of frontage on Allen Creek
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
$11,883
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
2.98%
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%
$237,660
$237.7K
Cap Rate 7%
$169,757
$169.8K
Cap Rate 9%
$132,033
$132.0K
Market Conditions
NOI Build-Up for 1,440 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
$19.9K $13.80/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$18.3K $12.70/SF
− OpEx
−$6.4K −$4.44/SF
NOI
$11.9K $8.25/SF
Area
Josephine County, OR
Vacancy
8.00%
Lease Rate
$13.80 /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%
$237,660
Cap Rate 7%
$169,757
Cap Rate 9%
$132,033
Alternative Uses
Best Use
Flex RnD
$169.8K
$148.5K – $198.1K
NOI $11,883 @ 7.0% cap · market cap 2.98%
Second Best
Industrial
$127.2K
$111.3K – $148.4K
NOI $8,906 @ 7.0% cap · market cap 2.23%
Theoretical Best
Office A
$326.5K
$285.7K – $380.9K
NOI $22,855 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - GC-zoned commercial land includes an existing shop for storage or interim workspace.
Where is this commercial land located?
The property is located at 835 union Avenue Grants Pass, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2.02‑acre General Commercial (GC) parcel; 1,440 SF shop building constructed in 1986; Just over 600 feet of frontage on Allen Creek
