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    1702 Fairview Ave Grants Pass, OR 97526
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    Property profile & analytics

    1702 Fairview Ave, Grants Pass, OR 97526

    View on Map
    • Commercial real estate
    • 5,441 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US71-1822059
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1702 Fairview Ave

    Year built
    1988
    Lot size
    0.30 lot acres
    Property type
    Commercial real estate
    APN
    R309421

    Description

    This exceptional five-unit apartment complex presents a compelling investment opportunity in Grants Pass, Oregon. Located at 1702 NE Fairview Ave, this property boasts 5,441 square feet across two buildings, a two-story triplex and a single-story duplex, all situated on a 0.3-acre corner lot. Built in 1988, the property is zoned R-4 and offers a desirable blend of established income and growth potential. Currently, all five units are occupied, demonstrating low turnover and consistent rental income. Rents have been regularly adjusted to reflect market growth, and the current rent roll indicates further rental increase opportunities. The property generates a Net Operating Income (NOI) of $54,587, resulting in a 6.10% capitalization rate. The asking price is $895,000, translating to $179,000 per unit and $164.49 per square foot. Its central location provides easy access to I-5, schools, parks, shopping, dining, and recreational activities, including the Rogue River and Crater Lake National Park. This property is ideally suited for a 1031 exchange. The property's strong cash flow, prime location, and potential for future rent increases make it an attractive investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grants Pass
    County
    Josephine
    State
    Oregon
    Longitude
    -123.30766177848
    Latitude
    42.438136185538

    Comparable in this City

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    Similar Nearby for Sale

    • New
      $639,000
      4,320 SF

      Fourplex with Gated Front Yards

      Fourplex built in 1964 offering two-bedroom units with private gated yard space, rear parking, and storage units.
      711 SW Burgess St, Grants Pass, OR 97526
      View Details
    • $460,000
      2,520 SF

      Updated Income Property on Acreage

      Renovated duplex on 1.84 acres with expansion potential.
      3361 Camp Joy Rd, Grants Pass, OR 97526
      View Details
    • $539,000
      2.71 Acres

      Multigenerational Living with Income Potential

      2.71-acre gated property with multiple living spaces and income potential.
      3504 Azalea Dr, Grants Pass, OR 97526
      View Details
    • New
      $1,575,000
      2,305 SF

      Irrigated Farm and Ranch Estate

      Productive irrigated pasture with reliable water, a farmhouse, and a large barn for equipment, hay, and livestock operations.
      3290 Lower River Rd, Grants Pass, OR 97526
      View Details
    • Contact for pricing
      Pending

      Commercial Land For Development

      Commercial land for development with high traffic and interstate access.
      4784/4986 Monument Dr, Grants Pass, OR 97526
      View Details
    • $240,000
      5.18 Acres

      5.18 Acre Residential Land Parcel

      Private 5.18-acre parcel near Grants Pass, Oregon.
      448 Adams Way, Grants Pass, OR 97526
      View Details

    Similar Nearby for Lease

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    Grants Pass, OR 97526
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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