Converted Office Building with Roof
1745 SW 24th Street Pendleton, OR 97801
1745 SW 24th Street, Pendleton, OR, 97801
$1,100,000
For Sale
$1,100,000
Updated converted office building in C-3 with a 2023 roof replacement and modified gross leases in place.
Property Size6,356 SF
Price / SF$173.06
Days on Market88
Property Features for 1745 SW 24th Street
General Information
- Standard status
- Active
- Size
- 6,356 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing agency
The Whitney Land Company
Listed by
Ashley Moala
(877) 319-7625
Source
Century21northhomes
Added: Apr 25 Updated: Jul 10 at 1:48PM Checked: Jul 20 at 5:48AM
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 The Whitney Land Company
Investment Insights
Based on property information with market context.
This converted commercial office building offers 6,356 SF and is currently 100% leased with a solid in-place tenant mix under modified gross leases. Recent improvements include a roof replacement in 2023, along with updates to interior flooring and paint. The property also includes an expanded bathroom addition, updated appliances, and new furnaces, supporting day-to-day operational continuity.
The building is situated in Pendleton in the C-3 zoning district, positioned between CHI St. Athony Hospital and the Eastern Oregon Cancer Center. That nearby medical-oriented setting can be an appealing fit for office tenants seeking convenient access to these established facilities.
For buyers, this property presents a leased office asset with unit-level occupancy already in place and documented capital updates, including the 2023 roof and recent interior and mechanical improvements. For brokers and tenants, the configuration is suited to commercial office use within a C-3 framework, with existing lease structure under modified gross terms.
The building is situated in Pendleton in the C-3 zoning district, positioned between CHI St. Athony Hospital and the Eastern Oregon Cancer Center. That nearby medical-oriented setting can be an appealing fit for office tenants seeking convenient access to these established facilities.
For buyers, this property presents a leased office asset with unit-level occupancy already in place and documented capital updates, including the 2023 roof and recent interior and mechanical improvements. For brokers and tenants, the configuration is suited to commercial office use within a C-3 framework, with existing lease structure under modified gross terms.
Key Highlights
- 6,356 SF converted commercial office building built in 2007
- 100% leased with a solid tenant mix; both tenants on Modified Gross Leases
- Roof replaced in 2023, with interior updates including flooring, paint, appliances, and a bathroom addition
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.4k | $18.00 |
| − Vacancy | −$22.4k | −$3.53 |
| EGI | $92.0k | $14.47 |
| − OpEx | −$23.0k | −$3.62 |
| NOI | $69.0k | $10.85 |
6,356 SF · lease $18.00/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$985.5K
$862.4K – $1.15M
NOI $68,988 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,137 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Updated converted office building in C-3 with a 2023 roof replacement and modified gross leases in place.
Where is this office building located?
The property is located at 1745 SW 24th Street Pendleton, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,356 SF converted commercial office building built in 2007; 100% leased with a solid tenant mix; both tenants on Modified Gross Leases; Roof replaced in 2023, with interior updates including flooring, paint, appliances, and a bathroom addition
