Mixed-Use Building with Two
For Sale
$495,000
513 Main Street, Klamath Falls, OR 97601
Commercial Sale, Klamath Falls, OR
Property Size3,325 SF
Lot Size0.08 Acres
Price / SF$148.87
Days on Market755
Property Features for 513 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
GC
Parking features
Parking Lot
Security features
Security System
Window features
Aluminum Frames
Interior features
Laminate Counters, Wired for Data
Lot features
Level
View
City
Directions
On Main Street, downtown Klamath Falls.
Standard status
Active
APN
412869
Size
3,325 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
5342
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
geothermal sidewalks
Building Details
Year built
1919
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Hardwood, Laminate, Carpet, Tile
Building materials
Brick, Concrete, Frame
Roof type
Membrane
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Mark W Ahalt · License #201209417
(541) 892-3423
Added: Aug 12, 2024
Changed: Aug 30
Last Checked: Sep 5 at 9:06AM
MLS# 220188088
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 3,325-square-foot mixed-use building contains two distinct commercial suites within a seismically improved structure. The 1,800-square-foot office suite includes a reception lobby, three workstations, two private offices, a kitchen, and a breakroom, with wired data connections. The 1,200-square-foot food-service suite includes seating for fifteen and a licensed kitchen supporting a year-round frozen-yogurt operation. Hardwood, laminate, vinyl, tile, and carpet flooring are present across the building, along with central air and forced-air natural-gas heating.
Constructed in 1919, the property occupies 0.08 acres at 513 Main Street in downtown Klamath Falls. The building has brick, concrete, and frame construction, a membrane roof, public water and sewer, and a parking lot. Geothermal sidewalks are located along the front of the building. Both spaces are occupied by separate businesses under month-to-month leases.
Constructed in 1919, the property occupies 0.08 acres at 513 Main Street in downtown Klamath Falls. The building has brick, concrete, and frame construction, a membrane roof, public water and sewer, and a parking lot. Geothermal sidewalks are located along the front of the building. Both spaces are occupied by separate businesses under month-to-month leases.
Key Highlights
- Two commercial suites totaling 3,325 square feet in one seismically improved building
- Office suite includes 1,800 SF, reception lobby, 3 workstations, 2 private offices, kitchen, and breakroom
- Food‑service suite measures 1,200 SF and includes seating for fifteen and a licensed kitchen
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
$33,516
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
6.77%
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%
$670,320
$670.3K
Cap Rate 7%
$478,800
$478.8K
Cap Rate 9%
$372,400
$372.4K
Market Conditions
NOI Build-Up for 3,325 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
$55.9K $16.80/SF
− Vacancy
−$11.2K −$3.36/SF
EGI
$44.7K $13.44/SF
− OpEx
−$11.2K −$3.36/SF
NOI
$33.5K $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%
$670,320
Cap Rate 7%
$478,800
Cap Rate 9%
$372,400
Alternative Uses
Best Use
Office B
$478.8K
$419.0K – $558.6K
NOI $33,516 @ 7.0% cap · market cap 6.77%
Second Best
Specialty Retail
$466.1K
$407.8K – $543.7K
NOI $32,624 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$679.6K
$594.7K – $792.9K
NOI $47,574 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,238
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate office and food-service spaces provide a flexible commercial configuration with existing month-to-month occupancies.
Where is this mixed-use property located?
The property is located at 513 Main Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two commercial suites totaling 3,325 square feet in one seismically improved building; Office suite includes 1,800 SF, reception lobby, 3 workstations, 2 private offices, kitchen, and breakroom; Food‑service suite measures 1,200 SF and includes seating for fifteen and a licensed kitchen
