Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    117 Central Ave Medford, OR 97501

    For Sale
    $3,490,000

    39,435 SF Creative Office, Opportunity Zone

    Property size:
    39,435 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 39,435-square-foot creative office building in Medford, Oregon, presents a compelling redevelopment opportunity within a federal Opportunity Zone. The three-story, Class B building, constructed in 1928 and renovated in 2002, sits on a 0.28-acre lot (APN 1-037016-7) and features poured-in-place concrete construction with stucco and a wood beam roof. Currently vacant, the property offers significant potential for adaptive reuse. The building boasts a full basement and mezzanine, adding to its versatile floor plan. Previously configured as an instructional facility, it's zoned for community commercial use and has undergone a full seismic upgrade. With a listed asking price of $3,490,000 ($88.50/SF), a pro-forma NOI of $360,000, and a pro-forma cap rate of 10.32%, this property offers strong investment potential. The building's location at 117 S Central Ave, Medford, OR 97501, provides excellent access to local amenities and transportation. This is a NNN lease type property.

    Property Features for 117 Central Ave

    General Information

    Property type
    Office space
    Square Feet
    39,435 SF
    Class
    B
    Lot Size
    12,197 SF

    Building Details

    Year Built/Renovated
    1928/2002
    Buildings
    1
    Stories
    3

    HighLights

    • 39,435 SF creative office building in Medford, OR, ideal for redevelopment.
    • Three‑story Class B building on a 0.28‑acre lot (APN 1‑037016‑7), built in 1928, renovated in 2002.
    • Currently vacant, offering adaptive reuse potential; features full basement and mezzanine.
    • Zoned for community commercial use; completed seismic upgrade.
    • Asking price: $3,490,000 ($88.50/SF); Pro‑forma NOI: $360,000; Pro‑forma Cap Rate: 10.32%.
    • Located at 117 S Central Ave, Medford, OR 97501, in a Federal Opportunity Zone; NNN lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    RCC Riverside Campus ... Community College TRiO Rogue Opportunity ... Non-Profit Organization Tree Service Experts ... Tree Service

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Medford
    County
    Jackson
    State
    Oregon
    Longitude
    -122.87098798671
    Latitude
    42.325646788577

    Nearby Similar for Sale

    • $875,000
      0.23 Acres

      Medford Multifamily Investment Opportunity

      Seven updated units offering strong rental income and growth potential.
      441 N Grape St, Medford, OR 97501
      View Details
    • New
      $1,650,000
      2.32 Acres

      Medford Multi-Unit Investment Opportunity

      2.32 acres with 8 units and a single-family home.
      144 Reager St, Medford, OR 97501
      View Details
    • New
      $2,250,000
      Pending

      White City Industrial Campus

      Two-building campus ideal for research, manufacturing, or investment.
      1388 Antelope Rd, Medford, OR 97503
      View Details
    • $950,000
      0.84 Acres

      Medford Commercial Property with Expansion Potential

      Two buildings on 0.84 acres, zoned for diverse commercial uses.
      3839 S Pacific Hwy, Medford, OR 97501
      View Details
    • $1,250,000
      1.06 Acres

      Medford Multifamily Investment Opportunity

      Expansive 1.06-acre parcel featuring 8 units in Medford, Oregon.
      144-166 Reager St, Medford, OR 97501
      View Details
    • $360,000
      Pending

      Medford Duplex: Income Opportunity

      Two homes on one lot, excellent income-producing property.
      1211 Locust St, Medford, OR 97501
      View Details

    FAQs

    What type of property is this?
    Office space - 39,435 SF Creative Office, Opportunity Zone
    Where is this office space located?
    The property is located at 117 Central Ave Medford, OR.
    What is the asking price?
    The asking price for this property is $3,490,000.
    What are key features of this property?
    This property features: 39,435 SF creative office building in Medford, OR, ideal for redevelopment.; Three-story Class B building on a 0.28-acre lot (APN 1-037016-7), built in 1928, renovated in 2002.; Currently vacant, offering adaptive reuse potential; features full basement and mezzanine.
    Request Owner's contact information
    117 Central Ave Medford, OR 97501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    117 Central Ave
    Medford, OR 97501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    117 Central Ave Medford, OR 97501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.