Contacts
NAI Elliott
Property Details
- Property Type Retail - Strip Center
- Property Size 13,750 SF
- Lot Size 1.19 Acre
- Cap Rate % 5.71
- Rental Income / YR $193,800.00
- NOI / YR $131,245.00
- Taxes / YR $21,500.00
- Zoning Community Commercial
- Additional Rent Contact for pricing
- # of Floors 1
- Parking Spaces Avail. 81
- Parking Ratio 5.89 / 1,000 SF
- Property Tenancy Multi-Tenant
- Building Class C
- Year Built 1960
- Date Updated Oct 21, 2024
- Visibility/Traffic Count (VPD) 16,592
NAI Elliott, as exclusive advisor, is pleased to offer for sale Shamrock Square, a 13,750 square foot value add retail center located in the economic hub of southern Oregon: Medford. The property boasts a prime location at the intersection of Crater Lake Ave and Stevens Street across from Chase Bank to the west and Safeway and Rite Aid to the southwest. To the north is the Providence Medford Medical Center, a 168-bed hospital built in 1985 with 600,000+ square feet of building area sprawling 30+ acres.
Shamrock Square was built in 1960 on 1.19 acres and is divided into three buildings on three tax parcels that vary in size. The property currently functions as one single center with no existing covenants, conditions, and restrictions (CC&Rs) among the buildings. The asphalt paved parking lot has 81 parking spaces with six access points and monument signage. There are 50 apartments units bordering the subject property to the northeast and a single-family home abutting the property to the east. Secondary access is provided to the apartments via an alley north of the property.
The property provides unparalleled exit strategies due to a variety of factors. First, it is already separated into three distinct tax lots per building, thereby allowing future ownership to segment the real estate per their business plan. Second, current rents average $14.09 per square foot full service, allowing both conversion to triple net leases and additional lift to market rates ranging $18.00 - $30.00 per square foot triple net, depending on the unit. Third, average tenant tenure is 13.5 years at the property, allowing an investor to negotiate leases for longer terms and higher rents without releasing risk. Last, market alternatives for owner users and comparable retail development are extremely limited.
Reach out to the broker for more info on lease terms and amenities
Attachments
Getting around
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86/100
Walk Score ®
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38/100
Transit Score ®
-
66/100
Bike Score ®
Location
- City Medford, OR
- Neighborhood East Medford
- Zip Code 97504
Points of Interest
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Safeway Fuel Station
0.20 miles
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Shell
0.41 miles
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ChargePoint
0.52 miles
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Pacific Pride
0.57 miles
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CFN
0.79 miles
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76
0.94 miles
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Chevron
1.00 miles
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Spirit
1.14 miles
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Medford Fuel
1.21 miles
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Tesla Supercharger
1.26 miles
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Middleford
0.70 miles
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Evergreen
0.89 miles
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Hoover Elementary School Parking
1.58 miles
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Stewart Meadows Village
2.04 miles
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Employee Parking
2.21 miles
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Rental Car Parking
2.27 miles
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Long-Term Parking
2.38 miles
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Short-Term Parking
2.38 miles
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Cell Phone Parking
2.38 miles
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Squeeze Inn Sandwich
0.03 miles
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Jimmy John's
0.10 miles
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Little Caesars
0.10 miles
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Happy Dragon Mongolian BBQ
0.14 miles
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Erawan Thai Cuisine
0.17 miles
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Sakura
0.21 miles
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Silver Dragon
0.25 miles
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Firehouse Subs
0.33 miles
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Buttercloud
0.34 miles
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Baja Fresh
0.34 miles
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Safeway
0.14 miles
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TJ Maxx
0.52 miles
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Bi-Mart
0.52 miles
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Big Lots
0.56 miles
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Blue sky plaza
0.71 miles
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JCPenney
0.94 miles
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Macy's
0.99 miles
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Rogue Valley Mall
1.02 miles
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Sherm's Food 4 Less
1.09 miles
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Kohl's
1.12 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
NAI Elliott