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Court Street Center 1211-1233 Court Street, Medford, Oregon Court Street Center FOR SALE Court Street Center 1211-1233 Court Street, Medford, Oregon Court Street Center Address Court Street Center 1211-1233 Court Street, Medford, OR Court Street Center is located in the downtown core of Medford, Jackson County, Oregon at the corner of Court Street and McAndrews Road. Property • Fully leased – Tenants include Cycle Gear, Rodda Paint, Collector’s Market, Diamond Audio and Turning Point Dance Studio • Building Size Approximately 39,356 square feet • Land Area 2.76 acres • Parking 115 parking spaces • Year built 1995 • Zoning 2.56 acres Community Commercial 0.2 acres Regional Commercial (C-R) PRICE: $ 4,090,000 BROKERS Jeff Elder Ashley Elder [email protected] [email protected] (541) 345-4860 The information in this package was gathered from sources deemed reliable, however Evans Elder Brown & Seubert makes no representation or warranty of the accuracy of the information. Any buyer or tenant considering a purchase or lease of this property should confirm any and all information relied upon in making the decision to purchase or lease prior to finalizing the transaction and bears the risk of all inaccuracies. COURT STREET CENTER | 2 Area & Demographics Location Court Street Center is located in the downtown core of Medford, Jackson County, Oregon at the corner of Court Street and McAndrews Road. Medford is situated in the Rogue Valley in the southern portion of Oregon. It’s surrounded by mountains and located in Jackson County. The economy is primarily based in healthcare while agriculture and the timber industry are still significant economic factors. Medford is known for its excellent pears. Harry and David Operations Corp. is the biggest direct marketing company regarding fruits and food gift items in the country. Medford and the surrounding region has developed a thriving wine industry. Outdoor reaction activities are poplar for residents and tourists. The well known Crater Lake, which is the deepest lake in the country is nearby. Due to being positioned between the Siskiyou Mountains and the Cascade Range, the city does not receive the substantial amount of rain which typically falls in the towns in the Pacific Northwest. Nearby Retail Sector The property is located near the Rogue Valley Mall, with 83 stores anchored by Macy’s, Kohl’s, Penny’s, and Bed Bath & Beyond. Target is on an adjacent pad. REI is located adjacent Court Street Center. Jackson County Trade Area The current population of the Jackson County trade area is approximately $217,000. COURT STREET CENTER | 3 Fred Meyer Target Natural Grocers FedEx Office Kohl’s Bed Bath & Beyond Barnes & Noble Trader Joe’s Rogue Valley Mall Macy’s REI JcPenney Court Street Center US Post Office Court Street Center COURT STREET CENTER | 4 Current Tenants RODDA PAINT CYCLE GEAR Rodda Paint produces and sells both industrial and residential strength Cycle Gear is a national retailer for motorbikes, accessories, and related paint and painting products. The company was established in 1932 in apparel. Company was established in Northern California in 1974 and now Portland, Oregon and has since expanded throughout the Northwest, includes 140+ stores in 35 states. California, and Alaska. Cycle Gear leases 7,200 square feet. Their lease is through January 31, Rodda Paint leases 8,591 square feet and has been a tenant since 2000. 2023. Their lease is through December 31, 2024. DIAMOND AUDIO TURNING POINT DANCE STUDIO LLC Diamond Audio is a retail store selling electronics products and installation Turning Point Dance Studio is a dance instruction studio for children of all of audio electronics in automobiles. ages. Classes are taught by certified dance instructors. Turning Point was opened in September of 2015 and has been at its current location since 2016 Diamond Audio leases 6,000 square feet and has been a tenant since 2005 after outgrowing its prior space. Their lease is through July 14, 2019. Turning Point leases 5,400 square feet and has been a tenant since 2017. COLLECTORS MARKET Their lease is through December 31, 2019. Collectors Market is a locally owned and operate business established in 1993. Collectors Market houses over 100 vendors that include brand new items, antiques, collectibles, gifts, furniture, and home décor. Collectors Market leases 12,165 square feet. The information in this package was gathered from sources deemed reliable, however Evans Elder Brown & Seubert makes no representation or warranty of the accuracy of the information. Any buyer or tenant considering a purchase or lease of this property should confirm any and all information relied upon in making the decision to purchase or lease prior to finalizing the transaction and bears the risk of all inaccuracies. COURT STREET CENTER | 5 Operating Proforma COURT STREET CENTER Income ADDRESS SQ. FT LEASE TERM RENT Rodda Paint 1211 Court 8,591 sq. ft. 12-31-2024 $ 81,780 Aimee Wilson 1221 Court 5,500 sq. ft. 12-31-2020 $ 46,500 Cycle Gear 1225 Court 7,200 sq. ft. 1-31-2023 $ 56,160 Diamond Audi 1229 Court 5,900 sq. ft. 7-14-2019 $ 48,312 Collectors Market 1233 Court 11,760 sq. ft. 5-31-2024 $ 83,460 Vacancy Allowance (3% est.) ($ 9,486) TOTAL $ 306,725 Operating Expenses Insurance $ 7,785 Management (3%) $ 9,109 General Maintenance (est.) $ 3,000 Landscape $ 2,400 Parking Lot $ 720 Security $ 2,327 Property Taxes $ 23,436 Utilities $ 6,376 Replacement reserves allowance (1%) $ 3,000 TOTAL $ 58,153 Net Operating Income $ 248,572 The information in this package was gathered from sources deemed reliable, however Evans Elder Brown & Seubert makes no representation or warranty of the accuracy of the information. Any buyer or tenant considering a purchase or lease of this property should confirm any and all information relied upon in making the decision to purchase or lease prior to finalizing the transaction and bears the risk of all inaccuracies. COURT STREET CENTER | 6 Center Street Court 1211-1233 Court Street, Medford, Oregon BROKERS Jeff Elder [email protected] Ashley Hope Elder [email protected] (541) 345-4860 101 E. Broadway, Suite 101 Eugene, OR 97401 (541) 345-4860 eebcre.com.
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