Office Building with Dedicated
For Sale
$275,000
435 SW DORION Ave, Pendleton, OR 97801
CommercialSale, Pendleton, OR
Property Size1,914 SF
Lot Size0.12 Acres
Price / SF$143.68
Days on Market93
Property Features for 435 SW DORION Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C1
View
Territorial, City
Directions
Corner of SW 5th St. and SW Dorion Ave.
Subdivision
_435
Standard status
Active
APN
107880
Size
1,914 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
See listing file.
Tax Annual Amount
3754
Legal Description
See listing file.
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1962
Building materials
Frame, Stucco
Roof type
Metal
Listing Agency:
Coldwell Banker Farley Company · Coldwell Banker Real Estate
(541) 276-0021
Listed By:
Kevin Hale · License #200804092
(541) 969-8243
Added: May 26
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 727270824
Copyright © 2026 Regional Multiple Listing Services. 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 1,914-square-foot office building combines a frame-and-stucco exterior with a metal roof. Constructed in 1962, the property includes forced-air heating and central air conditioning. The interior layout includes a rear office area that can be sublet, providing flexibility for an owner-user configuration.
The building sits directly across from Pendleton City Hall at 435 SW DORION Ave in Pendleton, Oregon. A dedicated rear parking area provides 10 spaces for staff and visitors. The property encompasses 0.12 acres and carries C1 zoning.
The building sits directly across from Pendleton City Hall at 435 SW DORION Ave in Pendleton, Oregon. A dedicated rear parking area provides 10 spaces for staff and visitors. The property encompasses 0.12 acres and carries C1 zoning.
Key Highlights
- 1,914‑square‑foot office building on 0.12 acres
- C1 zoning for professional office use
- Directly across from Pendleton City Hall
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C1-zoned property with a flexible layout for professional office use and convenient access for staff and clients.
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 on 0.12 acres; C1 zoning for professional office use; Directly across from Pendleton City Hall
