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1000 Biddle Rd
Medford, OR 97504
First Interstate Bank | Abs NNN Ground Lease · Retail Property For Sale
Investment Highlights
- New 10-Year Lease Extension | Below Market Rent (39% of Fair Market)
- Pad to Bear Creek Plaza | 3.1 Million Annual Visitors per Placer.ai | Top Ranked Tenants Nationwide per Placer.ai
- Fastest Growing Region in Oregon | High Traffic 44,200 VPD Intersection | Excellent Visibility & Access | Directly off I-5 Fwy
- Interstate Bank (NASDAQ: FIBK) Corporate Guaranty | 20-Year Operating History at Location
- Absolute NNN | Leased Fee Ownership | No Landlord Responsibilities
Executive Summary
• New 10-Year Lease Extension with 13% rent increase at next option
• Corporate Guaranty, First Interstate Bank (NASDAQ: FIBK), a 273-location publicly traded Bank that is extremely well capitalized with $28 billion Assets, $22.6 billion deposits and net income of over $302 million as of June 2025
• Current Rent of $53,247 is approximately 39% of Fair Market Value, providing investors long term stability and large value-add and re-pricing opportunity
at renewal
• Top 3% Interstate Bank Location Nationwide and #1 Location in Oregon, per Placer.ai
• Strong Branch Level Deposits of $107.44 Million per FDIC
• Corporate Guaranty, First Interstate Bank (NASDAQ: FIBK), a 273-location publicly traded Bank that is extremely well capitalized with $28 billion Assets, $22.6 billion deposits and net income of over $302 million as of June 2025
• Current Rent of $53,247 is approximately 39% of Fair Market Value, providing investors long term stability and large value-add and re-pricing opportunity
at renewal
• Top 3% Interstate Bank Location Nationwide and #1 Location in Oregon, per Placer.ai
• Strong Branch Level Deposits of $107.44 Million per FDIC
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Bank
Building Size
5,252 SF
Building Class
C
Year Built/Renovated
1977/2006
Price
$1,331,000
Price Per SF
$253.43
Cap Rate
4%
NOI
$53,247
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.90 AC
Zoning
C-C - Community Commercial
Parking
28 Spaces (5.33 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 10566633 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $23,899,040 |
Property Taxes
Parcel Number
10566633
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$23,899,040
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