616 Crater Lake Ave Medford, OR 97504
- Lifestyle centers
- 13,750 SF
- 1.19 lot acres
Current Use by Public Records
- Squeeze Inn Sandwich Shop / Sandwich Shop / Deli
Property Details for 616 Crater Lake Ave
- Year built
- 1960
- Lot size
- 1.19 lot acres
- Property size
- 13,750 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Shamrock Square, a 13,750 square foot shopping center in Medford, Oregon, presents a compelling value-add opportunity. Located at 616 Crater Lake Ave, this 100% occupied property features 12 tenants in three separate buildings on a 1.19-acre lot. Built in 1960, the center boasts 81 parking spaces and excellent visibility at a major intersection, across from Chase Bank and near Safeway and Rite Aid. The property offers significant upside potential. Currently operating under gross leases, the property's current NOI is $131,245, with a pro-forma NOI projected at $282,810, representing a pro-forma cap rate of 12.30%. The asking price is $2,300,000 ($167/SF), with a current cap rate of 5.71%. All leases expire December 31, 2025, providing flexibility for future lease renegotiations and potential rent increases to market rates of $18.00 to $30.00 per square foot triple net. The property's three separate tax parcels allow for diverse exit strategies, including the potential for segmented sales. The absence of competing owner-user alternatives and new development opportunities further enhances the investment appeal. The land value is $44 per square foot. The property's location near a major hospital and residential areas ensures strong traffic and customer base. This is a rare opportunity to acquire a well-located, value-add retail center with substantial upside potential in a growing market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Medford
- County
- Jackson
- State
- Oregon
- Longitude
- -122.862
- Latitude
- 42.3351
