Mixed-Use Property with Attached
For Sale
$240,000
1633 Division Street, Klamath Falls, OR 97601
Commercial spaces, a workshop, parking, and an updated residence support flexible owner-occupant or rental use.
Property Size1,452 SF
Days on Market188
Property Features for 1633 Division Street
General Information
Standard status
Active
Size
1,452 SF
Property subtype
Commercial
Zoning
GC
Taxes and HOA fees
Annual Taxes
$1,363
Amenities
enclosed patio
workshop area
Building Details
Building Size
1,452 SF
Year Built
1970
Stories
1
Units
1
Listing Agency:
Infinity Real Estate Group-Keller Williams Realty Southern Oregon
(541) 891-7389
Listed By:
Tillie Webb · License #201208843
(541) 891-7389
Source:
Allprofessionalsre
Added: Feb 17
Changed: Aug 24
Last Checked: Aug 23 at 11:57AM
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 Infinity Real Estate Group-Keller Williams Realty Southern Oregon
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial areas with an attached residence at 1633 Division Street in Klamath Falls. The commercial portion previously accommodated a bakery and barber shop and includes a separate workshop area, providing space for retail, office, service, storage, or creative functions. An enclosed patio adds another usable area, while additional parking serves both commercial visitors and residents.
The attached home contains 3 bedrooms and 2.5 baths, with updates that retain its original character. The layout supports an owner-occupant seeking on-site residential space alongside commercial operations, or separate residential and commercial occupancy. The property was built in 1970 and is zoned GC.
The attached home contains 3 bedrooms and 2.5 baths, with updates that retain its original character. The layout supports an owner-occupant seeking on-site residential space alongside commercial operations, or separate residential and commercial occupancy. The property was built in 1970 and is zoned GC.
Key Highlights
- Attached 3‑bedroom, 2.5‑bath residence with updates
- Commercial areas previously used for a bakery and barber shop
- Separate workshop area for storage or additional workspace
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
$14,636
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
6.10%
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%
$292,720
$292.7K
Cap Rate 7%
$209,086
$209.1K
Cap Rate 9%
$162,622
$162.6K
Market Conditions
NOI Build-Up for 1,452 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
$24.4K $16.80/SF
− Vacancy
−$4.9K −$3.36/SF
EGI
$19.5K $13.44/SF
− OpEx
−$4.9K −$3.36/SF
NOI
$14.6K $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%
$292,720
Cap Rate 7%
$209,086
Cap Rate 9%
$162,622
Alternative Uses
Best Use
Office B
$209.1K
$183.0K – $243.9K
NOI $14,636 @ 7.0% cap · market cap 6.10%
Second Best
Mixed Use
$188.1K
$164.6K – $219.4K
NOI $13,166 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$296.8K
$259.7K – $346.3K
NOI $20,775 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
705
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 - Commercial spaces, a workshop, parking, and an updated residence support flexible owner-occupant or rental use.
Where is this mixed-use property located?
The property is located at 1633 Division Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Attached 3‑bedroom, 2.5‑bath residence with updates; Commercial areas previously used for a bakery and barber shop; Separate workshop area for storage or additional workspace
