1229 Court Street, Medford, OR 97501
$3,500,000
Property Type:
Commercial Sale
Square Footage:
39,356
Lot Size (sq. ft.):
120,226
Status:
Closed
Current Price:
$3,500,000
List Date:
8/25/2021
Last Modified:
11/05/2024
Overview
Description
Listing Details MLS# 220130324
General Property Information
- Building Area Total
- 39356
- Building Area Source
- Other
- Building Area Units
- Square Feet
- # of Units Total
- 5
- Year Built
- 1968
- New Construction YN
- No
- Zoning
- C-C
- Tax Annual Amount
- 24370
- Tax Year
- 2020
- Potential Tax Liability YN
- Yes
- Assessment YN
- Yes
- CC&R's YN
- No
- FIRPTA YN
- No
- Sign On Property YN
- No
Property Features
Additional Features:
Airport Access; Bus Service or Stop; Free Span Roof; Separate Electric Meters; Separate Gas Meters
Basement:
None
Common Walls:
1 Common Wall
Construction Materials:
Block; Frame
Cooling:
Central Air
Flooring:
Concrete; Laminate
Foundation Details:
Slab
Heating:
Forced Air
Levels:
One
Roof:
Membrane
Existing Lease Type:
Gross
Business Type (AKA Sub Type):
Income/Investment; Retail
Owner Pays:
Common Area Maintenance; Insurance; Sewer; Taxes; Water
Tenant Pays:
Electricity; Gas; Insurance; Interior Maintenance; Janitorial Service
Easements:
Access
Flood:
Unknown
Government Overlay:
Enterprise Zone
Lot Features:
Corner Lot; Level
Parking Features:
Asphalt; Parking Lot
Road Frontage Type:
Shared Access
Road Surface Type:
Paved
Power Production:
None
Sewer:
Public Sewer
Water Source:
Public
Listing Terms:
Cash; Conventional
Special Listing Conditions:
Standard
Location Tax and Legal
- Street Number
- 1229
- Street Name
- Court
- Street Suffix
- Street
- County
- Jackson
- State
- OR
- Postal Code
- 97501
Contract Information
- Original List Price
- 3600000
- Listing Contract Date
- 2021-08-23
- Projected Active Date
- 2021-08-24
- Dual Listing YN
- No
Remarks and Miscellaneous
- Public Remarks
- Retail center located between two regional retail centers available for sale. 100% leased. 1229 Court Street is located adjacent the Regency Centers Northgate Marketplace in North Medford, and one block from the Rogue Valley Mall. Excellent tenancy history, on-site parking and potential for upside in rental growth. Located at a signalized intersection within 2 minutes of the North Medford Interstate 5 interchange. Cap rate of 7.0% on current rents. Call listing brokers for offering memorandum. Please Do Not Disturb Tenants. Tour by appointment only.
- Directions
- Take Interstate 5 to the North Medford Exit/Hwy 62, turn westbound on Highway 62 to North Pacific Hwy 99/Court Street, turn southbound on Court Street and right @ signal. Property on left.
Status Change Information
- Close Date
- 2022-03-31
- Under Contract Date
- 2021-10-04
- Status Change Timestamp
- 2022-04-01
- Close Price
- 3500000
- Sold Price per SqFt
- 88.93
More Information
Currently Not Used
- List Price per SqFt
- 91.47
Unit 1
- Unit #
- 1211 Court
- Tenant Name
- Rodda Paint
Unit 2
- Unit #
- 1225 Court
- Tenant Name
- Cycle Gear
Unit 3
- Unit #
- 1221 Court
- Tenant Name
- Turning Point Dance Studio
Unit 4
- Unit #
- 1229 Court
- Tenant Name
- Diamond Audio
Unit 5
- Unit #
- 1233 Court
- Tenant Name
- Collectors Market
Business Details
- Business Included?
- No
Income and Expenses (Annual Amounts)
- Cap Rate %
- 7
- Estimated Gross Operating Income $
- 328740
- Estimated Total Expenses
- 76188
- Net Operating Income
- 252552
Miscellaneous Information
- # of Grade Level Doors
- 3
- Total Building NRA
- 39356
- Backup Package Available
- Yes
Parking Details
- Parking
- Yes
- # of Parking Spaces
- 1136
- Vehicles/Average Daily Traffic
- 11900
Listing Office:
Coldwell Banker Commercial Pro West
Last Updated: November - 05 - 2024
Information deemed reliable but not guaranteed.