Mixed-Use Building with
For Sale
$2,700,000
5416 Running Y Road, Klamath Falls, OR 97601
Multi-tenant commercial property combining retail, restaurant, market, legal, and professional office uses in a resort community.
Property Size19,449 SF
Price / SF$138.82
Days on Market568
Property Features for 5416 Running Y Road
General Information
Standard status
Active
Size
19,449 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$15,363
Amenities
Central Air
3
Concrete, Laminate
Composition
Parking. Corner Lot.
Asphalt, Lot, On Street.
Sloped
1.3300000429153442
Courtyard, Landscaped. Ground Level Unit, Corner, Paved Road, Sloped.
Building Details
Year Built
2008
Stories
2
Listing Agency:
(541) 331-0060
Listed By:
Windermere Real Estate Kf
(541) 331-0060
Source:
Xome
Added: Feb 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:22PM
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 Real Estate Kf
Investment Insights
Based on property information with market context.
This 19,449-square-foot mixed-use commercial property contains a varied tenant lineup that includes a local market, restaurant, retail shops, an attorney office, and professional office suites. Built in 2008, the buildings feature central air, concrete and laminate finishes, and a landscaped courtyard. The site includes a corner lot, paved surfaces, on-street parking, and a sloped setting.
The property is located at 5416 Running Y Road within the 3,600-acre Running Y Ranch Resort community. Its intersection position provides access to custom homes, WorldMark timeshares, the resort hotel and restaurant, and the community ice rink. Golf, hiking, and lake access are among the recreational features found throughout the surrounding resort community.
The property is located at 5416 Running Y Road within the 3,600-acre Running Y Ranch Resort community. Its intersection position provides access to custom homes, WorldMark timeshares, the resort hotel and restaurant, and the community ice rink. Golf, hiking, and lake access are among the recreational features found throughout the surrounding resort community.
Key Highlights
- 19,449‑square‑foot mixed‑use commercial property
- Tenant mix includes a local market, restaurant, retail shops, attorney office, and professional office suites
- Built in 2008 with central air and concrete and laminate finishes
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
$196,046
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
7.26%
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%
$3,920,920
$3.9M
Cap Rate 7%
$2,800,657
$2.8M
Cap Rate 9%
$2,178,289
$2.2M
Market Conditions
NOI Build-Up for 19,449 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
$326.7K $16.80/SF
− Vacancy
−$65.3K −$3.36/SF
EGI
$261.4K $13.44/SF
− OpEx
−$65.3K −$3.36/SF
NOI
$196.0K $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%
$3,920,920
Cap Rate 7%
$2,800,657
Cap Rate 9%
$2,178,289
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.27M
NOI $196,046 @ 7.0% cap · market cap 7.26%
Second Best
Specialty Retail
$2.73M
$2.39M – $3.18M
NOI $190,830 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,273 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
42
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 - Multi-tenant commercial property combining retail, restaurant, market, legal, and professional office uses in a resort community.
Where is this mixed-use property located?
The property is located at 5416 Running Y Road Klamath Falls, OR.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 19,449‑square‑foot mixed‑use commercial property; Tenant mix includes a local market, restaurant, retail shops, attorney office, and professional office suites; Built in 2008 with central air and concrete and laminate finishes
