Three-Level Mixed-Use
For Sale
$375,000
1146 Pine Street, Klamath Falls, OR 97601
Commercial Sale, Klamath Falls, OR
Property Size2,737 SF
Lot Size0.11 Acres
Price / SF$137.01
Days on Market404
Property Features for 1146 Pine Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
GC
Parking features
On Street, Parking Lot
Interior features
Laminate Counters, Solid Surface Counters, Tile Counters
Basement
Finished, Daylight
Subdivision
Klamath Falls -Hot Springs Addition
Directions
Main St to Pine - Cross streets are 11th and Main St/Esplanade connection
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
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
three full kitchens
ADA-accessible ramp
Building Details
Floors in Building
3
Number of units
2
Flooring type
Laminate, Carpet, Tile, Vinyl
Building materials
Frame
Roof type
Metal
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Danae Lasalle · License #201235890
(541) 880-8228
Added: Jul 29, 2025
Changed: Aug 30
Last Checked: Sep 5 at 3:06PM
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.
Investment Insights
Based on property information with market context.
This 2,737-square-foot mixed-use building at 1146 Pine Street is arranged across three levels with two separate units and three full kitchens. The property is zoned commercial with residential use, creating a live-work configuration that accommodates multiple operating formats. The middle level was previously used for commercial food preparation. Interior finishes include tile, carpet, laminate, and vinyl flooring, with laminate, solid surface, and tile counters. Heating is electric, while cooling is provided by window and wall/window units.
An ADA-accessible ramp leads to the main entrance. Parking includes a private rear lot and on-street spaces. The property occupies 0.11 acres and is served by public water and public sewer, with frame construction and a metal roof.
An ADA-accessible ramp leads to the main entrance. Parking includes a private rear lot and on-street spaces. The property occupies 0.11 acres and is served by public water and public sewer, with frame construction and a metal roof.
Key Highlights
- 2,737‑square‑foot building on a 0.11‑acre parcel
- Three levels with two separate units
- Three full kitchens, including a middle level previously used for commercial food preparation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,589
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$551,780
$551.8K
Cap Rate 7%
$394,129
$394.1K
Cap Rate 9%
$306,544
$306.5K
Market Conditions
NOI Build-Up for 2,737 SF
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.
Gross rent
$46.0K $16.80/SF
− Vacancy
−$9.2K −$3.36/SF
EGI
$36.8K $13.44/SF
− OpEx
−$9.2K −$3.36/SF
NOI
$27.6K $10.08/SF
Area
Klamath County, OR
Vacancy
20.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$551,780
Cap Rate 7%
$394,129
Cap Rate 9%
$306,544
Alternative Uses
Best Use
Office B
$394.1K
$344.9K – $459.8K
NOI $27,589 @ 7.0% cap · market cap 7.36%
Second Best
Specialty Retail
$383.6K
$335.7K – $447.6K
NOI $26,855 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$559.4K
$489.5K – $652.7K
NOI $39,161 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning supports residential use within a flexible live-work configuration.
Where is this mixed-use property 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: 2,737‑square‑foot building on a 0.11‑acre parcel; Three levels with two separate units; Three full kitchens, including a middle level previously used for commercial food preparation
