Storefront Property with Rear
For Sale
$385,000
250 NE 3rd Street, Prineville, OR 97754
Open commercial layout includes a private office, restroom, and rear storage/prep area.
Property Size1,740 SF
Days on Market347
Property Features for 250 NE 3rd Street
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Commercial
Zoning
C1
Taxes and HOA fees
Annual Taxes
$1,655
Building Details
Building Size
1,740 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Coldwell Banker Bain
(541) 280-4372
Listed By:
Mary Gillen Doyle · License #200408269
(541) 280-4372
Source:
Allprofessionalsre
Added: Sep 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:33PM
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 Coldwell Banker Bain
Investment Insights
Based on property information with market context.
Built in 1950, this 1,740-square-foot storefront property combines an open commercial area with updated carpeting and lighting. The interior also includes a private office, restroom, and substantial rear storage/prep space, supporting retail or professional office occupancy.
The building is located at 250 NE 3rd Street in downtown Prineville, along 3rd Street (Hwy 26). Parking is available behind the building, with additional street parking along the frontage. C1 zoning provides the stated commercial designation for the property.
The building is located at 250 NE 3rd Street in downtown Prineville, along 3rd Street (Hwy 26). Parking is available behind the building, with additional street parking along the frontage. C1 zoning provides the stated commercial designation for the property.
Key Highlights
- 1,740‑square‑foot building constructed in 1950
- Open area with updated carpeting and lighting
- Private office and restroom
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
$24,987
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
6.49%
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%
$499,740
$499.7K
Cap Rate 7%
$356,957
$357.0K
Cap Rate 9%
$277,633
$277.6K
Market Conditions
NOI Build-Up for 1,740 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
$35.5K $20.40/SF
− Vacancy
−$2.2K −$1.25/SF
EGI
$33.3K $19.15/SF
− OpEx
−$8.3K −$4.79/SF
NOI
$25.0K $14.36/SF
Area
Crook County, OR
Vacancy
6.14%
Lease Rate
$20.40 /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%
$499,740
Cap Rate 7%
$356,957
Cap Rate 9%
$277,633
Alternative Uses
Best Use
Retail
$598.8K
$524.0K – $698.7K
NOI $41,919 @ 7.0% cap · market cap 10.89%
Second Best
Office B
$357.0K
$312.3K – $416.5K
NOI $24,987 @ 7.0% cap · market cap 6.49%
Theoretical Best
Specialty Retail
$751.7K
$657.7K – $877.0K
NOI $52,618 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
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?
Storefront property - Open commercial layout includes a private office, restroom, and rear storage/prep area.
Where is this storefront property located?
The property is located at 250 NE 3rd Street Prineville, OR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,740‑square‑foot building constructed in 1950; Open area with updated carpeting and lighting; Private office and restroom
