Leased Investment in Ashland Tourist
For Sale
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180 Lithia Way, Ashland, OR 97520
Fully leased commercial condos in Ashland's tourist district.
Property Size10,088 SF
Price / SF$224.52
Days on Market703
Property Features for 180 Lithia Way
General Information
Standard status
Active
Size
10,088 SF
Class
B
Property subtype
Office, Retail
Zoning
C-1-D - Commercial Downtown
Occupancy
100%
Lease Type
Net
Investment Type
Stabilized
Net Operating Income
$124,702
Building Details
Year Built
2004
Buildings
1
Stories
2
Units
9
Tenancy
Multi
Listing Agency:
Cascadia Prime LLC
Listed By:
Eric Herron · License #OR #201218616
Source:
Crexi
Added: Nov 15, 2024
Changed: Oct 15
Last Checked: Oct 16 at 8:54AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,477
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,469,540
$2.5M
Cap Rate 7%
$1,763,957
$1.8M
Cap Rate 9%
$1,371,967
$1.4M
Market Conditions
NOI Build-Up for 10,088 SF
Gross rent
$193.7K $19.20/SF
− Vacancy
−$29.1K −$2.88/SF
EGI
$164.6K $16.32/SF
− OpEx
−$41.2K −$4.08/SF
NOI
$123.5K $12.24/SF
Area
Jackson County, OR
Vacancy
15.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,469,540
Cap Rate 7%
$1,763,957
Cap Rate 9%
$1,371,967
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
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Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
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.
