Three-Level Live-Work
For Sale
$375,000
1146 Pine Street, Klamath Falls, OR 97601
GC-zoned building with separate living and commercial-use areas, multiple kitchens, and private rear parking.
Property Size2,737 SF
Days on Market381
Property Features for 1146 Pine Street
General Information
Standard status
Active
Size
2,737 SF
Property subtype
Commercial
Zoning
GC
Taxes and HOA fees
Annual Taxes
$2,392
Amenities
three full kitchens
ADA-accessible ramp
Building Details
Building Size
2,737 SF
Buildings
1
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 880-8228
Listed By:
Danae Lasalle · License #201235890
(541) 880-8228
Source:
Allprofessionalsre
Added: Jul 29, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:02AM
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 Fisher Nicholson Realty, LLC
Investment Insights
Based on property information with market context.
This three-level live-work property is zoned GC and contains two separate units with three full kitchens. The middle level previously accommodated commercial food preparation, providing a documented configuration for food-related, retail, or other business activity. Residential use is also supported by the property’s live-work format.
An ADA-accessible ramp serves the primary entrance. Parking includes spaces along the street as well as a large private lot behind the building. Located on Pine Street in Klamath Falls, the property offers a combination of commercial zoning, residential functionality, and adaptable interior space.
An ADA-accessible ramp serves the primary entrance. Parking includes spaces along the street as well as a large private lot behind the building. Located on Pine Street in Klamath Falls, the property offers a combination of commercial zoning, residential functionality, and adaptable interior space.
Key Highlights
- Three‑level building with two separate units
- Three full kitchens across the property
- GC zoning with residential use
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
Mixed Use
$354.5K
$310.2K – $413.6K
NOI $24,818 @ 7.0% cap · market cap 6.62%
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
1,271
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?
Live-work space - GC-zoned building with separate living and commercial-use areas, multiple kitchens, and private rear parking.
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: Three‑level building with two separate units; Three full kitchens across the property; GC zoning with residential use
