Offering Summery

• RE/MAX Platinum Commercial exclusively presents, for sale or for lease, separately or combined, 717 & 712 N. Riverside Avenue. Presenting a unique opportunity to retailers or developers, the Property is comprised of a 1.27 acre (55,321 LSF) paved, secured lot yards with a retail building and a mechanic shop building. Conveniently located near downtown Medford along one of Southern Oregon's busiest thoroughfares at N. Riverside and Maple. The Property is located in the Medford Urban Renewal Boundary. The Property can be sold or leased, combined or separate, and the owner is offering to carry the note. Contact Broker for details.
• Site No. 1, 717 N. Riverside Ave., is being offered for sale at $825,000.00. Site No. 2, 712 N. Riverside Ave., is being offered for sale at $469,090.00.
• The Property is offered for lease at $0.25 per Lot Square Foot, Triple Net, with negotiable terms.

Subject Property

• The Subject Property is commonly known as 717 North Riverside Avenue (herein, "No. 1"), and 712 North Riverside Avenue (herein, "No. 2") Medford, Oregon 97501 (collectively, the "Subject Property," "Subject," or "Property"). No. 1 is comprised of six (6) Tracts: Tract 5-3, 5-4, 5-5, 5-6, 5-7 and 5-8. Assessor Parcel Numbers for No. 1 are 10392144 ("A-1"), 10329019 and 10329001. Assessor Parcel Numbers for No. 2 are 10328701 and 103287102.
• The Property is comprised of two (2) sites at the corner of N. Riverside Ave. and Maple St. in Central Medford. The sites are separated by N. Riverside Ave. The Property abuts mixed use community commercial and motel to the south, a church and low- to moderate income single family residential to the east, a subordinate education facility and mixed-use commercial to the north, and mixed use commercial, hotel, manufactured housing and designated park and interstate travel facilities to the east. The Property is surrounded by local- and regional commercial centers, with the Rogue Valley Mall and Regency Center to the North and Medford Center to the East. Downtown Medford is to the south.
• No. 1 is comprised of a single story, portable 1,265 square foot professional office and retail building built in 1996 and approx. 0.81 acres (35,283 SF) of secured lot yard surrounding. It contains two (2) vehicle curb cuts and one (1) man gate: One cut at Maple St. and one at Pine St. Each curb cut is secured by a vehicle gate. An LED-backlit monument sign sits at the center of the frontage along Riverside Ave. Some damage has occurred to the sign from vehicle crashes.
• No. 2 is comprised of a single story, 1,152 sf four- (4) bay automotive mechanical garage built in 1977 surrounded by approx. 0.46 acres (20,038 SF) of secured lot yard. It also contains two (2) curb cuts to Riverside Ave - both secured by vehicle gates. A backlit monument sign sits at the center of the frontage along Riverside. Unsecured parking space is available in front of the fence along Riverside Ave.
• Current use for No 1. and No.2 are as a wholesale automotive auction dealership. Both are under leasehold interest with a single month-to-month lease. Tenants have provided vacation notice and will be in holdover May 1, 2025.

Condition & Class

• The location of the Subject is Class A given its optimal location from retail, short term lodging, long-term residential and local, regional and interstate travel. The area surrounding the Subject has multiple developments in progress and is in a local designated improvement zone under the City of Medford Urban Renewal Agency (see attached Map). Multiple commercial and multifamily re-development projects and capital utilization are underway in the immediate area.
• The exterior of the Subject is Class B with exterior components being in good working order and mostly in good repair. Composition roofs are in need of repair or replacement. Roof-mounted HVAC components are in good working order. Siding and paint are good. The parking lot is in need of sealing and minor repairs as preventative maintenance. The No. 1 monument sign has experienced damage. No. 2's monument requires lighting, electrical and paint improvements for best operation. The condition would be considered Class A should it be renovated to include some updates to the parking lots, monument signs, roofs, façades, paint and other similar improvements. The addition of 50 mph bollards to the south of the monument(s) would mitigate future traffic crash damage.
• The interior condition is Class B primarily due to age with the professional office and show room of No. 1, however both are in great shape. Some minor cosmetic improvements to the interior would increase class to Class A.

Market Summery

• Medford has a population was 85,098 (based on 2023 figures). Estimated median household income in 2021: $57,424. The State of Oregon’s estimated household income was $86,426 (2023). The sixth largest county in the State of Oregon in population, Jackson County covers more than 2,801 square miles. The current population is 220,768 (based on figures available 2023). Approximately 70 percent of Jackson County residents live in the 11 incorporated cities, which include Ashland, Butte Falls, Central Point, Eagle Point, Gold Hill, Jacksonville, Medford, Phoenix, Rogue River, Shady Cove, and Talent. The remainder live in the unincorporated areas of the County. The unemployment rate for February 2025 was at 4.1%. This is down from a year ago when it was 4.5%. Medford is the largest city within Jackson County and serves as its County seat.
• The city is the home of two of the area’s largest medical providers: Asante Health Systems and Providence Health Services, which together employ an estimated 8,228 people. The other large industries in Medford, OR are Retail Trade (5,772 people), and Other Services, Except Public Administration (2,707 people).
• The median price for existing home sales for Jackson County for the 4th quarter of 2024 was $413,750. Up 3.6% compared to this time last year and 6.1% from the same time in 2022. Vacancy for multi-family is approximately 4.1%. The rental market in Southern Oregon has been strong, especially the past 24 months. Rents have pushed up 10-15% per year that past few years. Several new multi-family developments have completed and began leasing.
• Secured parking in high-traffic urbanized locations such as this, especially with additional investments for related sectors of best use, are rare in Southern Oregon. Typically, lots with best use in industry such as automotive sales or repair are calculated for value based upon the storage of vehicles on a per-vehicle basis. However, considering zoning and use, the Subject would likely be identified as a possible development or re-development opportunity and bring related interested parties.

Tenant Summery

• The Property is currently used as retail and leased by MAG Now, a subsidiary of Dealers Auto Auctions (DAA NW), an automotive wholesaler in Southern Oregon. They have leased the Property for ten (10) years. Tenant has been assigned or assumed several times, but tenant has wholly conducted the same use and operated the same business for the entire term. The lease will expire April 30, 2025, and the tenant intends to occupy in holdover with the lease reverting to a month-to-month term. There has been interest in renewing to a fixed term, but the tenant has produced mixed messaging. This should be considered reliable but not guaranteed.
• Prior to tenant's leasehold interest, the Property has been leased with low vacancy to automotive retailers of all size and scope. The Property was originally developed to be a Saturn dealership operated by Lithia Motors. Lithia Motors then redeveloped the Property into a Volkswagen dealership. The Property's best use is automotive retail, and serves as a great location for wholesale automotive retail with its proximity to major dealerships in the region.