Jasmine Building - 6% CAP RATE* 180 Lithia Way 10,088 SF 100% Leased Office Building Ashland, OR 97520 $2,490,000 ($246.83/SF) 6% Cap Rate

100% Fully Leased! 6% CAP Rate*

Solid Investment in one of the Pacific Northwest’s most famous tourist towns, Ashland, OR. The Jasmine Building is conveniently located within the Tourist Triangle within walking distance to over 30 restaurants, 10 art galleries, (3) theater including the world-famous Oregon Shakespeare Festival.

This offering has bundled (9) legal commercial condos, allowing the buyer the flexibility to sell unit individually, as well to adjust lease agreements in the future to be updated to a NNN lease model.
Location is not only preferred for locals and tourist, it has the markers to lend to a highly desired business location for the tenants. This location gets an average daily traffic of 9,700 per vehicles per day. In addition to high traffic and pedestrian counts the location is directly across the street from (6) free electric car chargers and over 60 free public parking spaces. Convenance and desirability cross-sect at the Jasmine Building.
Within the (9) commercial condos offered here includes:
·      Conference Rooms.
·      Breakrooms and Kitchen Spaces.
·      Restrooms.
·      Medical Office.
·      Professional Office.
·      Co-working Offices
·      Open Offices Plans.
·      Private Executive Offices.
·      Elevator.
·      Multiple Entrances to the Suites.
·      High Ceilings.
·      Fire Suppression Throughout.
·      Lobbies.
·      Large Windows.
* Upon transaction Closing, Seller agrees to contribute up to, but not exceeding $25,000 per year for 5 years to balance the annual rent collection up to $200,000. NOI would increase to $149,400 based on previous expense history. Additional Terms and conditions apply and will put into the Sale Agreement upon Buyers and Sellers acceptance.
Building HOA has over $300,000 of CASH reserves for repairs and maintenance.
Seller and Listing Broker has provided all information in good faith and is believed to be true and accurate. No warranty or representation, express or implied, is made as to the accuracy of the information provided; all information contained herein is subject to change, errors, and omission and is subject to buyer's independent verification. Buyer shall perform their own due diligence.
Surrounding Area Highlights:
Discover the Rogue Valley
The Rogue Valley is home to 88 vineyards, more than 70 varietals of grapes, and 53 tasting rooms. Forbes Magazine has recommended the Rogue Valley wine region as a Top Global Wine Destination. The Rogue Valley Wine Region is divided into four wine trails: the Upper Rogue, Bear Creek, Jacksonville, and Applegate.
 
ASHLAND
Selected as a top 10 finalist in Outside Magazine’s search for the “Best Town in America”, Ashland dazzles as a culturally rich mecca for tourism, entertainment, entrepreneurship, and breathtaking outdoor experiences, with access to an array of resplendent natural wonders, including Mt. Ashland, the Rogue River, and Crater Lake National Park. The city of Ashland, considered the gem of Southern Oregon, is a thriving town of 21,117 residents and 450,000 annual visitors as reported in Ashland’s city budget. Ashland is also home to Southern Oregon University and its 4,389 (fall 2021).
 
OREGON SHAKESPEARE FESTIVAL (OSF)Enjoy 365 days of theatre, a thriving artist community and art galleries and museums, including the world renowned Oregon Shakespeare Festival, that runs April-October, with over 380,000 annual tickets sold. Attend independent films, markets, first Friday art-walk, festivals, live music and explore a diverse shopping experience.
 
Mt. Ashland
Ski, hike or bike year-round at Mt. Ashland. Mt. Ashland’s vast network of trail includes the world renowned the Pacific Crest Trail,  spanning 2,653 miles long, from Canada to Mexico. With majestic views of all the surrounding natural beauty, Mt. Ashland provides terrain for outdoor enthusiasts of every ability.