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    Versatile Commercial Property with Residential Use Title is generated by Realmo AI

    1146 Pine Street, Klamath Falls, OR 97601

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    Claim this Listing
    For Sale
    $375,000

    COMMERCIAL - Klamath Falls, OR

    Property size:
    2,737 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $137/SF
    Added:
    Jul 29, 2025
    Days on Market:
    309
    Last Refresh:
    Jun 2 at 7:06 am

    Property Features for 1146 Pine Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street, Parking Lot
    Interior features
    Laminate Counters, Solid Surface Counters, Tile Counters
    Basement
    Finished, Daylight
    Standard status
    Active
    APN
    371243
    Size
    2,737 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2393

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Floors in Building
    3
    Number of units
    2
    Flooring type
    Carpet, Tile, Laminate, Vinyl
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Danae Lasalle

    Listing agent Danae Lasalle License #201235890

    Listing office Fisher Nicholson Realty, LLC 403 Main Street, Klamath Falls, OR

    Listing date Jul 29, 2025

    MLS# 220206706

    Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown location offers high visibility and accessibility.
    • Commercial zoning with residential use allows for versatile live/work options and income potential.
    • Three full kitchens and two separate units provide flexibility for rental income or multi‑generational living.
    • Large private parking lot in addition to on‑street parking.
    • Mid‑level previously used for commercial food prep, suitable for catering or retail.
    • ADA‑accessible ramp to the main entrance.

    Overview

    This versatile property, zoned for commercial with residential use, is located in a prime downtown location. The distinctive three-level building includes two separate units and three full kitchens, offering flexibility for multi-use living, rental income, or business operations. The mid-level was previously used for commercial food preparation, making it suitable for catering, retail, or creative ventures. An ADA-accessible ramp provides access to the main entrance. The property includes convenient on-street parking and a large private parking lot in the back. The building has a total area of 2737 square feet and is situated on a 0.11-acre lot.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $37.8k $13.80
    − Vacancy −$2.0k −$0.72
    EGI $35.8k $13.08
    − OpEx −$9.0k −$3.27
    NOI $26.9k $9.81
    2,737 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $383.6K
    $335.7K – $447.6K (±1% cap)
    NOI $26,855 @ 7.0% cap · market cap 7.16%
    Second Best
    Mixed Use
    $354.5K
    $310.2K – $413.6K (±1% cap)
    NOI $24,818 @ 7.0% cap · market cap 6.62%
    Theoretical Best
    Office A
    $559.4K
    $489.5K – $652.7K (±1% cap)
    NOI $39,161 @ 7.0% cap · market cap 10.44%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sanctioned Love Association / Organization

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Klamath Falls
    County
    Klamath
    State
    Oregon
    Longitude
    -121.778568
    Latitude
    42.228519

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    FAQs

    What type of property is this?
    Live-work space - Multi-use property in downtown Klamath Falls with commercial zoning.
    Where is this live-work space located?
    The property is located at 1146 Pine Street Klamath Falls, OR.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Prime downtown location offers high visibility and accessibility.; Commercial zoning with residential use allows for versatile live/work options and income potential.; Three full kitchens and two separate units provide flexibility for rental income or multi‑generational living.
    (541) 880-8228
    We can help!
    Listing Contact
    Danae Lasalle
    Real Estate License ID: 201235890
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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