2205 Ashland St, Ashland, OR 97520

Caspian Hoehne and Scott King of Merit Commercial Real Estate represented the Seller in the sale of 2205 Ashland Street, Suite 102 - a Class A Medical Clinic in Ashland. At the time of sale, the Property had a 7.56% cap rate and consisted of ±1,500 SF of medical clinic space within a multi-tenant commercial condo building. The layout of the building was efficient and extensively built out and the long-standing tenant became key highlights when marketing the Property.

The Challenge: Condo sales in this particular market are extremely rare and rarely ever seen. The subject property was positioned as a small individual unit within a larger building, and while it was located in an excellent location off of a major thoroughfare in Ashland, visibility was tight and the buyer pool was relatively thin. The constraints of the asset required significant research ahead of time to price it accurately. The transaction itself was relatively straightforward, but there were several organizational requirements due to the condo association and the management and financials thereof.

Merit's Process: The Merit team ran the typical playbook of exceptionally stunning visual media, photography, and listing materials, combined with significant regional and West Coast reach. For this kind of asset (single-tenant net-leased properties, especially condos), broad reach is absolutely critical, as many of the buyers for this type of asset live out of the area or out of state and sometimes out of the continental US, as this buyer actually resided in Hawaii. Merit’s exit-prep system helped mitigate many potential obstacles and question marks that would have come up later in the transaction otherwise.

The Result: The transaction closed all-cash as a 1031 exchange upleg in May of 2025 for $650,000.