NC-Zoned Mixed-Use
For Sale
$325,000
189 E Main Street, Klamath Falls, OR 97601
Two connected commercial units provide distinct layouts, individual bathrooms, and a shared interior area.
Property Size2,487 SF
Price / SF$130.68
Days on Market564
Property Features for 189 E Main Street
General Information
Standard status
Active
Size
2,487 SF
Property subtype
General Commercial
Zoning
NC
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,142
Amenities
bathroom
kitchenette
flexible shared area
Central Air, Ceiling Fan(s)
3
Hardwood, Vinyl, Laminate, Carpet
Carbon Monoxide Detector
Metal, Composition
Parking.
Alley Entrance, On Street.
0.11999999731779099
Ground Level Unit, Paved Road.
Building Details
Year Built
1925
Stories
2
Listing Agency:
(541) 880-6251
Listed By:
Miss June Sells Oregon
(541) 880-6251
Source:
Xome
Added: Feb 13, 2025
Changed: Aug 30
Last Checked: Aug 31 at 3:23PM
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 Miss June Sells Oregon
Investment Insights
Based on property information with market context.
This 2,487-square-foot mixed-use property is configured as two separate commercial units connected by a shared area. One unit is arranged on a single level, while the other extends across two stories. Each unit includes a bathroom, and one also has a kitchenette. Central air, ceiling fans, and a combination of hardwood, vinyl, laminate, and carpet flooring support a range of office or light retail configurations. The property was built in 1925 and carries neighborhood commercial zoning.
Located at 189 E Main Street in Klamath Falls, the property is near Oregon Tech and Sky Lakes Medical Center. Access includes an alley entrance and on-street parking, with a paved road serving the site. The source information identifies office, light retail, and similar commercial uses as potential applications.
Located at 189 E Main Street in Klamath Falls, the property is near Oregon Tech and Sky Lakes Medical Center. Access includes an alley entrance and on-street parking, with a paved road serving the site. The source information identifies office, light retail, and similar commercial uses as potential applications.
Key Highlights
- 2,487 SqFt of NC‑zoned mixed‑use commercial space
- Two units: one single‑story and one two‑story
- Each unit includes a bathroom; one has a kitchenette
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
$25,069
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
7.71%
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%
$501,380
$501.4K
Cap Rate 7%
$358,129
$358.1K
Cap Rate 9%
$278,544
$278.5K
Market Conditions
NOI Build-Up for 2,487 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
$41.8K $16.80/SF
− Vacancy
−$8.4K −$3.36/SF
EGI
$33.4K $13.44/SF
− OpEx
−$8.4K −$3.36/SF
NOI
$25.1K $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%
$501,380
Cap Rate 7%
$358,129
Cap Rate 9%
$278,544
Alternative Uses
Best Use
Office B
$358.1K
$313.4K – $417.8K
NOI $25,069 @ 7.0% cap · market cap 7.71%
Second Best
Mixed Use
$322.2K
$281.9K – $375.9K
NOI $22,551 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$508.3K
$444.8K – $593.1K
NOI $35,584 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,036
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected commercial units provide distinct layouts, individual bathrooms, and a shared interior area.
Where is this mixed-use property located?
The property is located at 189 E Main Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,487 SqFt of NC‑zoned mixed‑use commercial space; Two units: one single‑story and one two‑story; Each unit includes a bathroom; one has a kitchenette
