Building Details

Building Size 2,517 SF

Year Built 9999

Stories 1

Units 2

Listing Agency: Windermere Realty Trust h***@gmail.com Show Phone

Listed By: Dustin Hewitt · License #201211095 Show Phone

Source: Allprofessionalsre

Added: Jul 31 Changed: Aug 29 Last Checked: Aug 5 at 10:52AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Realty Trust

Investment Insights

Based on property information with market context.

This remodeled flex property at 102 Jones Street combines residential space with a four-bay commercial shop. The shop has epoxy-coated flooring and custom live-edge juniper trim, bringing durable finishes and a distinctive interior character to the work area. The property also carries a documented connection to local history as the former site of the first mercantile store in northern Klamath County.

Highway 97 exposure places the property along a recognized regional route in Crescent, Oregon. The building’s combined residential and commercial configuration supports a live-work arrangement, while the source information also identifies potential use as a primary residence, short-term rental, business location, hobby area, storage space, or creative workspace.

Key Highlights

• Four‑bay commercial shop combined with residential space
• Highway 97 exposure in Crescent, Oregon
• Epoxy‑coated flooring in the shop

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

$26,525

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

5.32%

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%

$530,500 $530.5K

Cap Rate 7%

$378,929 $378.9K

Cap Rate 9%

$294,722 $294.7K

Market Conditions

NOI Build-Up for 2,517 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

$32.5K $12.90/SF

− Vacancy

−$1.3K −$0.50/SF

EGI

$31.2K $12.40/SF

− OpEx

−$4.7K −$1.86/SF

NOI

$26.5K $10.54/SF

Area

Klamath County, OR

Vacancy

3.89%

Lease Rate

$12.90 /SF/Yr

Expense Ratio

15.00%

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%

$530,500

Cap Rate 7%

$378,929

Cap Rate 9%

$294,722

Alternative Uses

Best Use

Warehouse

$378.9K

$331.6K – $442.1K (±1% cap)

NOI $26,525 @ 7.0% cap · market cap 5.32%

Second Best

Office B

$362.4K

$317.1K – $422.9K (±1% cap)

NOI $25,371 @ 7.0% cap · market cap 5.08%

Theoretical Best

Office A

$514.5K

$450.2K – $600.2K (±1% cap)

NOI $36,013 @ 7.0% cap · market cap 7.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Auto Parts Store Storage Facility (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Computer & Electronic Repair Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

45

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97733, OR

893

Population

1,169

Households

0.8

Avg Household Size

56

Median Age

27%

College-Educated

74%

High-School Grad

378.5 sq mi

ZIP Area

2

Density / Sq Mi

$46,620

Median Household Income

$18,707

Median Earnings

$223,200

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Remodeled building combines a residence with a commercial shop and Highway 97 exposure.

Where is this flex space located?

The property is located at 102 Jones Street Crescent, OR.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: Four‑bay commercial shop combined with residential space; Highway 97 exposure in Crescent, Oregon; Epoxy‑coated flooring in the shop