Live-Work Building with Three
For Sale
$375,000
1146 Pine Street, Klamath Falls, OR 97601
COMMERCIAL - Klamath Falls, OR
Property Size2,737 SF
Lot Size0.11 Acres
Price / SF$137.01
Days on Market382
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
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
three full kitchens
ADA-accessible ramp
private parking lot
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 4
Last Checked: Aug 14 at 5:06AM
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.
Three-level live-work building zoned for commercial with residential use, designed for multiple ways to operate or live. The property has two separate units and includes three full kitchens, supporting flexible multi-use living, rental, catering, or business operations. An ADA-accessible ramp leads to the main entrance.
Exterior and access include on-street parking and a larger private parking lot in back. The building sits on a 0.11-acre lot and provides 2,737 SF of interior space. Construction is frame with a metal roof. Interior finishes include laminate, solid surface, and tile counters, with flooring across vinyl, laminate, tile, and carpet.
For utilities, the property is served by public water and public sewer. Heating is electric, with wall/window and window unit cooling.
Exterior and access include on-street parking and a larger private parking lot in back. The building sits on a 0.11-acre lot and provides 2,737 SF of interior space. Construction is frame with a metal roof. Interior finishes include laminate, solid surface, and tile counters, with flooring across vinyl, laminate, tile, and carpet.
For utilities, the property is served by public water and public sewer. Heating is electric, with wall/window and window unit cooling.
Key Highlights
- Three levels with two separate units
- Three full kitchens for flexible operations
- ADA‑accessible ramp to the main entrance
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
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-level live-work building with two units, three full kitchens, and ADA-accessible entry plus on-street and 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 levels with two separate units; Three full kitchens for flexible operations; ADA‑accessible ramp to the main entrance
