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Property profile & analytics
OFF-MARKET
Estimated value
$1,665,000
Commercial real estate
38 Central Ave, Medford, OR 97501-5956
Entity Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0848553
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
10,620 SF
Lot
0.25 ac (10,890 SF)
Zoning code
C-C
APN
1-0369343
UPID
US71-0848553
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Marsh McLennan Agency Insurance Agency
-
Wood Dwindy Insurance Agency
-
Soo Rah Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.69M
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$1.67M
Owner & transaction history
J R Development LLC · 22 yrs held
J R Development LLC
since 2004
7 recorded transactions
Zoning & alternative use
C-C · Medford, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+40.1%
Neighborhood: shopping center
$2.2M
+15.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Medford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Medford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,830,000
6.5%
$1,690,000
7%
$1,570,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,915,000
Current use
MEDICAL BUILDING
$2,680,000
Change: +40% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,205,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,720,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$1,690,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.67M
Range $1.50M – $1.83M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$157 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$25,201
Tax year 2023
Assessed value
$1,689,780
Assessed 2023
Previous assessed
$1,640,570
+3.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$268,330
Assessed improvement
$1,421,450
Land market value
$367,320
Improvement market value
$1,947,030
Total market value
$2,314,350
Applied tax rate
4,950.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Total area
10,620 SF
Lot
0.25 ac (10,890 SF)
Zoning code
C-C
APN
1-0369343
UPID
US71-0848553
Jurisdiction
JACKSON
Zoning & alternative use
C-C · Medford, OR
Zoning C-C · permitted uses
C-C · Medford, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Medford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Lot
0.25 ac
Current owner
From public records · entity-resolved
J R Development LLC
Entity
Free & Clear · 22 yrs held
Mailing address
902 CHEVY WAY, MEDFORD, OR 97504-4106
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2004
—
J R Development LLC
Murphy Family LLC
Grant Deed
related
—
Sep 12, 2003
$650,000
Murphy Family LLC
Phelps,fred G & Carol J
Grant Deed
$350,000 · Fred G & Carol J Phelps
Jun 30, 1995
$390,000
Phelps,fred G & Carol J
Johansen Trust
Trustees Deed
$35,000 · Individual
Mar 28, 1994
—
Johansen,john E Trustee
Johansen,john E & Marjorie M
Grant Deed
related
—
Mar 13, 1986
$150,367
Johansen,john E & Marjorie M
Johansen,j E & Marjorie M
Grant Deed
related
—
—
—
JR Dev LLC
—
Deed Of Trust
related
$2,840,000 · Sun Life Assurance Co
—
—
Fred G Phelps
—
Deed Of Trust
related
$273,000 · Key Bank Of Oregon
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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