Fully Leased NNN
For Sale
$1,250,000
121 NE 3rd Street, Prineville, OR 97754
C1-zoned restaurant building includes a commercial kitchen and full-service bar in downtown Prineville.
Property Size5,800 SF
Lot Size0.33 Acres
Price / SF$215.52
Days on Market28
Property Features for 121 NE 3rd Street
General Information
Standard status
Active
Size
5,800 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
C1
Occupancy
100%
Financials
Asking Price
$1,250,000
Cap Rate
7.5%
Taxes and HOA fees
Annual Taxes
$11,264
Building Details
Building Size
5,800 SF
Year Built
1972
Stories
1
Units
1
Listing Agency:
Green Tree Commercial Real Estate
(503) 689-4498
Listed By:
Dinah Janette Green
(503) 689-4498
Source:
Allprofessionalsre
Added: Jul 6
Changed: Aug 2
Last Checked: Aug 2 at 2:41AM
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 Green Tree Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5,800 SF commercial building, constructed in 1972, is configured for restaurant use with a fully equipped kitchen and full-service bar. The property is fully leased under a new 5-year term beginning August 2025, with one 5-year renewal option and 3% annual rent increases. The lease is structured on an NNN basis, and the reported cap rate is 7.50%.
The property occupies 0.33 acres at 121 NE 3rd Street in Prineville, Oregon. C1 Central Commercial zoning supports its established commercial setting in the city center. On-site parking is available, and the building sits next to the High Desert Inn. The location also benefits from local and tourist activity within Prineville’s central business area.
The property occupies 0.33 acres at 121 NE 3rd Street in Prineville, Oregon. C1 Central Commercial zoning supports its established commercial setting in the city center. On-site parking is available, and the building sits next to the High Desert Inn. The location also benefits from local and tourist activity within Prineville’s central business area.
Key Highlights
- 5,800 SF restaurant building on 0.33 acres
- Fully leased under a new 5‑year term beginning August 2025
- 5‑year renewal option with 3% annual rent increases
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
113k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Groceries 29%
Dining 21%
Electronics 3%
Ray's Food Place
Groceries
19,882 visits/mo
0.2 miles
Bi-Mart
Shops & Services
19,704 visits/mo
0.5 miles
Grocery Outlet Bargain Market
Groceries
12,992 visits/mo
0.5 miles
Dollar Tree
Shops & Services
12,694 visits/mo
0.2 miles
Starbucks
Dining
7,667 visits/mo
0.2 miles
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - C1-zoned restaurant building includes a commercial kitchen and full-service bar in downtown Prineville.
Where is this nnn property located?
The property is located at 121 NE 3rd Street Prineville, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,800 SF restaurant building on 0.33 acres; Fully leased under a new 5‑year term beginning August 2025; 5‑year renewal option with 3% annual rent increases
