Live-Work Property with
For Sale
$630,000
3203 Old Midland Road, Klamath Falls, OR 97603
Commercial Sale, Klamath Falls, OR
Property Size3,573 SF
Lot Size8.97 Acres
Price / SF$176.32
Days on Market99
Property Features for 3203 Old Midland Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NC
Parking features
Parking Lot, Carport
Patio and Porch features
Porch
Interior features
Built-in Features, Laminate Counters, Solid Surface Counters, Tile Counters, Wired for Data
Exterior features
Fire Pit, RV Hookup
Lot features
Fenced, Garden, Landscaped
View
Territorial
Directions
Tingley Lane to Old Midland Rd just east of Falcon Heights.
Standard status
Active
APN
587109
Size
3,573 SF
Lot size
8.97 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2638
Utilities
Sewer type
Septic Tank
Heating system
Radiant, Natural Gas, Forced Air
Water source
Private, Well
Amenities
gas heat and central A/C
second kitchen
vintage bar with 3 keg taps
woodstove
two large retail/event rooms
2.5 additional baths
extensive storage
large workshop with vehicle lift
carports
separate storage building
Building Details
Floors in Building
1
Number of units
1
Flooring type
Tile, Vinyl, Carpet, Concrete
Building materials
Frame
Roof type
Metal
Additional Structures
RV/Boat Storage
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Jerrie Reddell · License #910600113
(541) 891-5078
Added: Jun 25
Changed: Sep 17
Last Checked: Oct 1 at 3:06AM
MLS# 220224113
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,573-square-foot live-work property combines a three-bedroom, one-bath residence with adjoining commercial improvements on 8.97 acres. The home includes a bonus room, natural-gas heating, and central air conditioning. Commercial areas provide a second kitchen, two large retail or event rooms, 2.5 additional bathrooms, storage, and a vintage bar equipped with three keg taps. Interior finishes include carpet, vinyl, tile, and concrete flooring.
A large workshop with a vehicle lift is complemented by carports and a separate storage building. The property also includes a porch, fire pit, RV hookup, private well, septic tank, metal roofing, and a mix of radiant and forced-air heating. Located at 3203 Old Midland Road in Klamath Falls, the site is suited to a buyer seeking residential space alongside adaptable commercial facilities.
A large workshop with a vehicle lift is complemented by carports and a separate storage building. The property also includes a porch, fire pit, RV hookup, private well, septic tank, metal roofing, and a mix of radiant and forced-air heating. Located at 3203 Old Midland Road in Klamath Falls, the site is suited to a buyer seeking residential space alongside adaptable commercial facilities.
Key Highlights
- 8.97‑acre live‑work property with 3,573 square feet of improvements
- 3‑bedroom, 1‑bath residence with bonus room and central A/C
- Commercial areas include a second kitchen, two large retail/event rooms, and 2.5 additional baths
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
$36,016
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
5.72%
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%
$720,320
$720.3K
Cap Rate 7%
$514,514
$514.5K
Cap Rate 9%
$400,178
$400.2K
Market Conditions
NOI Build-Up for 3,573 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
$60.0K $16.80/SF
− Vacancy
−$12.0K −$3.36/SF
EGI
$48.0K $13.44/SF
− OpEx
−$12.0K −$3.36/SF
NOI
$36.0K $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%
$720,320
Cap Rate 7%
$514,514
Cap Rate 9%
$400,178
Alternative Uses
Best Use
Office B
$514.5K
$450.2K – $600.3K
NOI $36,016 @ 7.0% cap · market cap 5.72%
Second Best
Specialty Retail
$500.8K
$438.2K – $584.3K
NOI $35,058 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$730.3K
$639.0K – $852.0K
NOI $51,122 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 97603, OR
31,302
Population
13,568
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
91%
High-School Grad
340.6 sq mi
ZIP Area
92
Density / Sq Mi
$64,272
Median Household Income
$41,124
Median Earnings
$987
Median Rent
$251,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Live-work space - Combined residential and commercial improvements support flexible live-work, retail, restaurant, or event uses.
Where is this live-work space located?
The property is located at 3203 Old Midland Road Klamath Falls, OR.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 8.97‑acre live‑work property with 3,573 square feet of improvements; 3‑bedroom, 1‑bath residence with bonus room and central A/C; Commercial areas include a second kitchen, two large retail/event rooms, and 2.5 additional baths
