Multi-Office Commercial
422 S 5th, Klamath Falls, OR 97601
For Sale
$2,600,000
An occupied property has a lease with 4 years remaining, an escalation clause and a renewal option.
Property Size8,264 SF
Price / SF$314.62
Days on Market128
Property Features for 422 S 5th
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
heated front sidewalk
upgraded LED lighting
high-density mobile filing storage system
fire-resistant storage room
central air heating & AC
Wired for Data
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Coldwell Banker Holman Premier
(541) 884-1343
Listed By:
Elizabeth Eagleton · License OR #201238265
(541) 891-6393
Source:
Kendonleet
Added: Jul 10
Changed: Nov 12
Last Checked: Nov 13 at 1:48AM
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 Coldwell Banker Holman Premier
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Investment Insights
Based on property information with market context.
Built in 2019, this office property contains 16 offices with windows, three conference rooms of varying sizes, a kitchen and dining area, and four restrooms, including one with a shower. Two entrances serve the building. Interior features include a high-density mobile filing system, updated fixtures, a fire-resistant storage room, and LED lighting. Heating and air conditioning are provided by a central system. A heated sidewalk fronts the building, and the dedicated parking lot has 26+ spaces. The property is zoned GC.
At 422 S 5th in downtown Klamath Falls, the building has an existing tenant. The lease has 4 years remaining, includes an escalation clause, and provides an option to renew.
At 422 S 5th in downtown Klamath Falls, the building has an existing tenant. The lease has 4 years remaining, includes an escalation clause, and provides an option to renew.
Key Highlights
- 16 windowed offices and 3 conference rooms
- Existing tenant; lease has 4 years remaining, an escalation clause and an option to renew
- Dedicated parking lot with 26+ spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,301
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,666,020
$1.7M
Cap Rate 7%
$1,190,014
$1.2M
Cap Rate 9%
$925,567
$925.6K
Market Conditions
NOI Build-Up for 8,264 SF
Gross rent
$138.8K $16.80/SF
− Vacancy
−$27.8K −$3.36/SF
EGI
$111.1K $13.44/SF
− OpEx
−$27.8K −$3.36/SF
NOI
$83.3K $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 Rate 5%
$1,666,020
Cap Rate 7%
$1,190,014
Cap Rate 9%
$925,567
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,301 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,240 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - An occupied property has a lease with 4 years remaining, an escalation clause and a renewal option.
Where is this office building located?
The property is located at 422 S 5th Klamath Falls, OR.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 16 windowed offices and 3 conference rooms; Existing tenant; lease has 4 years remaining, an escalation clause and an option to renew; Dedicated parking lot with 26+ spaces
