180 Lithia Way Ashland, OR 97520

Property Details for 180 Lithia Way

Year built

2006

Lot size

0.03 lot acres

Property size

1,344 SF

Zone code

E-1

Property type

Office Properties & Spaces

APN

1-0985042

APU

10985042

Description

This fully leased, 10,088 square foot Class B office and retail building in downtown Ashland, Oregon presents a compelling investment opportunity. The property, built in 2004, consists of nine commercial condos within a single two-story building, offering flexibility for future sales or lease adjustments. Currently boasting 100% occupancy with eight tenants under net leases, the property generates a strong net operating income (NOI) of $124,702, resulting in a 5.01% cap rate. The asking price is $2,490,000, translating to $246.83 per square foot. Located at 180 Lithia Way (APN 10979761), this prime location within Ashland's "Tourist Triangle" benefits from high daily traffic (9,700 vehicles) and excellent pedestrian access. Amenities include convenient access to electric vehicle charging stations and ample public parking. The building itself features desirable attributes such as conference rooms, breakrooms, multiple entrances, high ceilings, large windows, and a fire suppression system. The property is zoned C-1-D (Commercial Downtown) and includes rent bump provisions. The current lease agreements expire November 15, 2024. Ashland's vibrant cultural scene, including the renowned Oregon Shakespeare Festival, and its thriving tourism industry contribute to the property's strong tenant demand and investment potential. This is a stabilized investment in a highly desirable location.