Office Building with Rear
For Sale
$275,000
435 SW Dorion Ave, Pendleton, OR 97801
Professional property across from Pendleton City Hall with on-site parking and an adaptable interior arrangement.
Property Size1,914 SF
Price / SF$143.68
Days on Market10
Property Features for 435 SW Dorion Ave
General Information
Standard status
Active
Size
1,914 SF
Total Parking Spaces
10
Building Details
Year Built
1962
Buildings
1
Construction
stucco
Listing Agency:
Coldwell Banker Farley Company
(541) 276-0021
Listed By:
Kevin Hale · License #200804092
Source:
Rosecityrealtygroup
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 5:23AM
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 Farley Company
Investment Insights
Based on property information with market context.
This 1,914-square-foot office building was constructed in 1962 and presents a flexible configuration for a professional business. The exterior combines stucco siding with a metal roof, while the interior includes a rear office area that may be sublet separately. The layout also allows consideration of interior tenant improvements for a future owner.
Located at 435 SW Dorion Ave in Pendleton, the property sits directly across from Pendleton City Hall. A dedicated parking area behind the building provides 10 spaces for staff and visitors.
Located at 435 SW Dorion Ave in Pendleton, the property sits directly across from Pendleton City Hall. A dedicated parking area behind the building provides 10 spaces for staff and visitors.
Key Highlights
- 1,914‑square‑foot office building constructed in 1962
- Rear office area may be sublet separately
- Stucco exterior with a metal roof
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
$20,775
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
7.55%
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%
$415,500
$415.5K
Cap Rate 7%
$296,786
$296.8K
Cap Rate 9%
$230,833
$230.8K
Market Conditions
NOI Build-Up for 1,914 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
$34.5K $18.00/SF
− Vacancy
−$6.8K −$3.53/SF
EGI
$27.7K $14.47/SF
− OpEx
−$6.9K −$3.62/SF
NOI
$20.8K $10.85/SF
Area
Umatilla County, OR
Vacancy
19.60%
Lease Rate
$18.00 /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%
$415,500
Cap Rate 7%
$296,786
Cap Rate 9%
$230,833
Alternative Uses
Best Use
Office B
$296.8K
$259.7K – $346.3K
NOI $20,775 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$400.7K
$350.6K – $467.5K
NOI $28,047 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
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?
Office building - Professional property across from Pendleton City Hall with on-site parking and an adaptable interior arrangement.
Where is this office building located?
The property is located at 435 SW Dorion Ave Pendleton, OR.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,914‑square‑foot office building constructed in 1962; Rear office area may be sublet separately; Stucco exterior with a metal roof
