Commercial Office Building with
New
For Sale
$449,000
4775 S 6th St, Klamath Falls, OR 97603
An existing lease runs through December 31, 2028, with a dedicated parking lot serving the building.
Property Size2,304 SF
Price / SF$194.88
Days on Market3
Property Features for 4775 S 6th St
General Information
Standard status
Active
Size
2,304 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$24
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Windermere Real Estate Kf
(541) 885-4400
Listed By:
Allison K York · License #K6681AY
(541) 331-0060
Source:
Exprealty
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 2:43PM
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 Windermere Real Estate Kf
Investment Insights
Based on property information with market context.
This office property contains 2,304 square feet in a commercial building with a dedicated parking lot. An in-place lease extends through December 31, 2028.
The property is on S. 6th Street in Klamath Falls, Oregon. An adjoining 0.38-acre parcel may also be available for purchase.
The property is on S. 6th Street in Klamath Falls, Oregon. An adjoining 0.38-acre parcel may also be available for purchase.
Key Highlights
- 2,304‑square‑foot commercial office building
- Lease in place through December 31, 2028
- Dedicated parking lot
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
$23,224
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
5.17%
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%
$464,480
$464.5K
Cap Rate 7%
$331,771
$331.8K
Cap Rate 9%
$258,044
$258.0K
Market Conditions
NOI Build-Up for 2,304 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
$38.7K $16.80/SF
− Vacancy
−$7.7K −$3.36/SF
EGI
$31.0K $13.44/SF
− OpEx
−$7.7K −$3.36/SF
NOI
$23.2K $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%
$464,480
Cap Rate 7%
$331,771
Cap Rate 9%
$258,044
Alternative Uses
Best Use
Office B
$331.8K
$290.3K – $387.1K
NOI $23,224 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.9K
$412.1K – $549.4K
NOI $32,965 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
413
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?
Office building - An existing lease runs through December 31, 2028, with a dedicated parking lot serving the building.
Where is this office building located?
The property is located at 4775 S 6th St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,304‑square‑foot commercial office building; Lease in place through December 31, 2028; Dedicated parking lot
