Four-Building Office
For Sale
Contact for pricing
143-157 S Main Street, Phoenix, OR 97540
C-C (City Center) zoning and multiple buildings provide adaptable office and service layouts.
Property Size8,118 SF
Lot Size1.07 Acres
Price / SF$147.82
Days on Market9
Property Features for 143-157 S Main Street
General Information
Standard status
Active
Size
8,118 SF
Total Parking Spaces
30
Lot size
1.07 Acres
Property subtype
Office
Zoning
C-C (City Center)
Additional Details
Road Access
Yes
Building Details
Year Built
1945
Buildings
4
Listing Agency:
Merit Commercial Real Estate
(541) 608-6704
Listed By:
Scott King · License #Oregon 200602153
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 19 at 5:39AM
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 Merit Commercial Real Estate
Investment Insights
Based on property information with market context.
This office campus comprises four professional office and service buildings across five contiguous parcels. The improvements total approximately 8,118 SF and include private offices, restrooms, open work areas, and storage space. The buildings previously operated as a professional office complex for a non-profit counseling and rehabilitation center, with individual structures that can function separately or together.
The property is located at 143-157 S Main Street in Phoenix, Oregon, with more than 500 feet of combined frontage on the main thoroughfares. Access is provided from S Main Street, while 157 S Main Street also has access from Bear Creek Drive. The site offers room for an estimated 30 vehicles and is zoned C-C (City Center).
The property is located at 143-157 S Main Street in Phoenix, Oregon, with more than 500 feet of combined frontage on the main thoroughfares. Access is provided from S Main Street, while 157 S Main Street also has access from Bear Creek Drive. The site offers room for an estimated 30 vehicles and is zoned C-C (City Center).
Key Highlights
- Four professional office and service buildings totaling ±8,118 SF
- Five contiguous parcels totaling ±1.07 acres
- More than 500' of combined frontage on Phoenix's main thoroughfares
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
$99,364
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
8.28%
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%
$1,987,280
$2.0M
Cap Rate 7%
$1,419,486
$1.4M
Cap Rate 9%
$1,104,044
$1.1M
Market Conditions
NOI Build-Up for 8,118 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
$155.9K $19.20/SF
− Vacancy
−$23.4K −$2.88/SF
EGI
$132.5K $16.32/SF
− OpEx
−$33.1K −$4.08/SF
NOI
$99.4K $12.24/SF
Area
Jackson County, OR
Vacancy
15.00%
Lease Rate
$19.20 /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%
$1,987,280
Cap Rate 7%
$1,419,486
Cap Rate 9%
$1,104,044
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.66M
NOI $99,364 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.29M
NOI $137,162 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 97540, OR
8,234
Population
4,228
Households
1.9
Avg Household Size
45
Median Age
43%
College-Educated
97%
High-School Grad
45.0 sq mi
ZIP Area
183
Density / Sq Mi
$57,686
Median Household Income
$40,176
Median Earnings
$1,428
Median Rent
$427,900
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?
Office building - C-C (City Center) zoning and multiple buildings provide adaptable office and service layouts.
Where is this office building located?
The property is located at 143-157 S Main Street Phoenix, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four professional office and service buildings totaling ±8,118 SF; Five contiguous parcels totaling ±1.07 acres; More than 500' of combined frontage on Phoenix's main thoroughfares
