Leased Investment in Ashland Tourist
180 Lithia Way Ashland, OR 97520
180 Lithia Way, Ashland, OR, 97520
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For Sale
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Fully leased commercial condos in Ashland's tourist district.
Property Size10,088 SF
Price / SF$224.52
Days on Market609
Property Features for 180 Lithia Way
General Information
- Standard status
- Active
- Size
- 10,088 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 2004
Listing Agency
Cascadia Prime LLC
Listed by
Eric Herron · License #OR #201218616
Source
Crexi
Added: Nov 15, 2024 Checked: Jul 17 at 3:13 am
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 Cascadia Prime LLC
Investment Insights
Based on property information with market context.
This is an investment opportunity in Ashland, Oregon, situated within the Tourist Triangle, near restaurants, art galleries, and the Oregon Shakespeare Festival. The offering includes nine commercial condos, providing flexibility to sell units individually or adjust lease agreements to a NNN lease model. The location is desirable for both locals and tourists, with an average daily traffic of 9,700 vehicles per day. It is located across the street from six free electric car chargers and over 60 free public parking spaces. The building's HOA has cash reserves for repairs and maintenance. The commercial condos include conference rooms, breakrooms and kitchen spaces, restrooms, medical office, professional office, co-working offices, open office plans, private executive offices, an elevator, multiple entrances, high ceilings, fire suppression, lobbies, and large windows. Ashland is a culturally rich mecca for tourism, entertainment, and entrepreneurship, with access to Mt. Ashland, the Rogue River, and Crater Lake National Park. Ashland has a population of 21,117 residents and 450,000 annual visitors. It is also home to Southern Oregon University with 4,389 students. The Oregon Shakespeare Festival runs from April to October, selling over 380,000 annual tickets. Mt. Ashland offers year-round activities, including access to the Pacific Crest Trail.
Key Highlights
- 100% Fully Leased Commercial Condos: Provides immediate income and a solid investment opportunity.
- Prime Location in Ashland's Tourist Triangle: High foot and vehicle traffic (9,700 vehicles per day) ensures visibility and accessibility.
- Flexibility with (9) Legal Commercial Condos: Allows for individual unit sales and adaptable lease agreements.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.7k | $19.20 |
| − Vacancy | −$29.1k | −$2.88 |
| EGI | $164.6k | $16.32 |
| − OpEx | −$41.2k | −$4.08 |
| NOI | $123.5k | $12.24 |
10,088 SF · lease $19.20/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,477 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,447 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
MustHaveMenus, Inc.
(Bike/Boat/Book/etc) Store
Ashland Brain Harmony
Physician
Aligned Career Coaching
Employment Agency
Natural Medicine
Physician
FourEight Transitions
Medical Clinic
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FAQs
What type of property is this?
Office units - Fully leased commercial condos in Ashland's tourist district.
Where is this office units located?
The property is located at 180 Lithia Way Ashland, OR.
What is the asking price?
The asking price for this property is $2,265,000.
What are key features of this property?
This property features: 100% Fully Leased Commercial Condos: Provides immediate income and a solid investment opportunity.; Prime Location in Ashland's Tourist Triangle: High foot and vehicle traffic (9,700 vehicles per day) ensures visibility and accessibility.; Flexibility with (9) Legal Commercial Condos: Allows for individual unit sales and adaptable lease agreements.
