Medical Office Building Near
For Sale
Contact for pricing
2628 Clover St, Klamath Falls, OR 97601
Medical office building near Sky Lakes Medical Center for sale.
Property Size2,655 SF
Price / SF$254.24
Days on Market1220
Property Features for 2628 Clover St
General Information
Standard status
Active
Size
2,655 SF
Class
B
Property subtype
Office
Zoning
PUD
Building Details
Year Built
1987
Units
1
Listing Agency:
Pulver & Leever Real Estate Company
(541) 773-5391
Listed By:
Jared Pulver · License #OR 200508084
Source:
Crexi
Added: Apr 19, 2023
Changed: Aug 8
Last Checked: Aug 19 at 2:27PM
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 Pulver & Leever Real Estate Company
Investment Insights
Based on property information with market context.
This medical office building is located near Sky Lakes Medical Center. The building includes 6 exam rooms and a lab. The property has a partial tenant in place, with 90 days required to terminate the lease. The building also features approximately 280 square feet of basement storage. Showings are available on Tuesday, Thursday, and Friday by appointment. The property size is 2655 square feet.
Key Highlights
- Well‑located medical office building near Sky Lakes Medical Center.
- Includes 6 exam rooms and a lab.
- Partial tenant in place provides immediate income potential.
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
$26,762
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
3.96%
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%
$535,240
$535.2K
Cap Rate 7%
$382,314
$382.3K
Cap Rate 9%
$297,356
$297.4K
Market Conditions
NOI Build-Up for 2,655 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
$44.6K $16.80/SF
− Vacancy
−$8.9K −$3.36/SF
EGI
$35.7K $13.44/SF
− OpEx
−$8.9K −$3.36/SF
NOI
$26.8K $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%
$535,240
Cap Rate 7%
$382,314
Cap Rate 9%
$297,356
Alternative Uses
Best Use
Office B
$382.3K
$334.5K – $446.0K
NOI $26,762 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$354.4K
$310.1K – $413.5K
NOI $24,808 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$542.7K
$474.8K – $633.1K
NOI $37,987 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Balanced
Demand for This Use
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?
Medical Office Space - Medical office building near Sky Lakes Medical Center for sale.
Where is this medical office space located?
The property is located at 2628 Clover St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Well‑located medical office building near Sky Lakes Medical Center.; Includes **6 exam rooms and a lab.**; Partial tenant in place provides **immediate income potential.**
