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Restaurant For Lease • 2,089 SF
| Name | Space Use | Size | Rent | Details |
|---|---|---|---|---|
| 3rd Floor Ste 333 | Retail | 2,089 SF | $22.92 USD/SF/YR | |
Turnkey Restaurant in Prime Ashland Location A rare opportunity to lease a fully built-out, turnkey restaurant space in one of Ashland's most recognizable dining locations. Located on the top floor at 51 Water Street, directly along Ashland Creek in the heart of downtown, this space has operated as a full-service restaurant for nearly three decades and offers an established commercial kitchen, full bar, and one of the few dining rooms in town with direct creekside outdoor seating and gorgeous mountain views. With the closure of the long-running restaurant that occupied the space, the building available for lease in 2027 to a new food & beverage concept and equipment negotiation. The interior of the space features a cozy gas fireplace in the main dining room with an occupancy of 70, a full bar, lovely views of Ashland Creek the surrounding Ashland mountains and beautifully landscaped grounds. An additional 1200 sf of heated outdoor dining offers an additional occupancy of 49 for a total capacity of 119. A fully operational commercial kitchen sits under a 12' Class 1 hood, walk in cooler, dish pit, prep area, dry goods storage, plus additional storage space just off the kitchen. Don't let the 3rd story worry you, this building has accessible walk up entry from Lithia way as well as elevator access from the public parking lot for those who prefer to drive. Staff and customers have additional, private parking available as well. Located just a blocks away from several hotels with nearly 300 doors means there are plenty of diners looking to refuel after a day of hiking, biking, shopping exploring or getting a meal before enjoying a show at the Oregon Cabaret Theatre or perhaps the nationally renowned theatre organization, Oregon Shakespeare Festival. Negotiate the FF&E and have a turn key restaurant or re-tool and create your own concept. There are many options for this rare opportunity to lease for one of Ashland Oregon's most iconic dining locations.
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51 Water Street is a distinctive three-story, mixed-use commercial building set directly on Ashland Creek in the heart of downtown Ashland, Oregon. Zoned C-1 (Retail Commercial) under the City of Ashland Land Use Ordinance, the property supports a flexible mix of restaurant, office, and retail/personal-service uses outright, with no conditional use permit required. Its distinctive octagonal architecture sets the building apart from downtown's typical rectangular storefronts, giving each floor a panoramic presence over the creek rather than a single flat storefront face.
The building houses a proven mix of established tenants: The Blue Giraffe Day Spa, which has operated on-site since 2002 and has been voted Best Spa in Ashland for over a decade; professional offices occupying additional space within the building; and Beasy's on the Creek, a full-service seafood restaurant that has operated in the building since 1996, anchoring the top floor with an established commercial kitchen, full bar, and one of downtown's only dining rooms with direct creekside outdoor seating.
The location itself is the property's greatest asset. 51 Water Street sits at the confluence of the Ashland Plaza, Calle Guanajuato, and the Ashland Creek walking path — one of the most concentrated pedestrian, tourism, and lodging nodes in Southern Oregon. The immediate area carries a 92/100 Walk Score ("Walker's Paradise," against a citywide average of 55) and roughly 262 hotel rooms across four properties within a few blocks, alongside direct proximity to the Oregon Shakespeare Festival campus, Lithia Park, and Ashland's Historic Downtown retail and restaurant core.
| Distinctive Octagonal, three story building directly on Ashland Creek |
| Steps from the Ashland Plaza, Calle Guanajuato and Lithia Park |
| Roughly 262 hotel rooms across four properties within a few blocks feeding consistent foot traffic year round |
| Home to The Blue Giraffe Day Spa since 2002, the longest running day spa in Ashland |
| Beasys on The Creek, fine dining for nearly 30 years, further proves that the location supports long term success |
| C-1 Zoning permits restaurant use, office, retail and personal services |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Beasy's On The Creek | ||
| Blue Giraffe Day Spa And Salon |
| Airport | Drive | Walk | Distance |
|---|---|---|---|
| Rogue Valley International - Medford | 24 min | - | 15.5 mi |
Josh Pauli
Ashland Property Management LLC
Josh Pauli
Ashland Property Management LLC