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513 Main St, Klamath Falls, OR 97601
Two commercial spaces in seismically improved building on Main Street.
Property Size3,325 SF
Price / SF$148.87
Days on Market741
Property Features for 513 Main St
General Information
Standard status
Active
Size
3,325 SF
Property subtype
Hospitality, Office, Retail
Zoning
GC
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Building Details
Year Renovated
2017
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Stacy Ellingson · License #OR 200502384
Source:
Crexi
Added: Aug 13, 2024
Changed: Aug 17
Last Checked: Aug 22 at 7:08PM
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 Fisher Nicholson Realty, LLC
Investment Insights
Based on property information with market context.
This property features two commercial spaces within a seismically improved building. The location is on Main Street in Klamath Falls. The property is suitable for investors or entrepreneurs. One space, Suite 101, is 1800 square feet and includes a reception lobby, three workstations, two private offices, and a kitchen and breakroom. This space is currently occupied by JM Solutions under a month-to-month lease. The other space, Suite 100, is 1200 square feet and is occupied by Lighthouse Yogurt Company, also under a month-to-month lease. This gourmet frozen yogurt service operates year-round and includes seating for fifteen customers and a licensed kitchen. The building features geothermal sidewalks in front and public parking in the rear. The total property size is 3325 square feet.
Key Highlights
- Strategic Main Street location in Klamath Falls.
- Two separate commercial spaces in one seismically improved building.
- Currently generating income with month‑to‑month leases from two businesses.
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
$28,818
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
5.82%
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%
$576,360
$576.4K
Cap Rate 7%
$411,686
$411.7K
Cap Rate 9%
$320,200
$320.2K
Market Conditions
NOI Build-Up for 3,325 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
$43.9K $13.20/SF
− Vacancy
−$2.7K −$0.82/SF
EGI
$41.2K $12.38/SF
− OpEx
−$12.4K −$3.71/SF
NOI
$28.8K $8.67/SF
Area
Klamath County, OR
Vacancy
6.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$576,360
Cap Rate 7%
$411,686
Cap Rate 9%
$320,200
Alternative Uses
Best Use
Retail
$411.7K
$360.2K – $480.3K
NOI $28,818 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$679.6K
$594.7K – $792.9K
NOI $47,574 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial spaces in seismically improved building on Main Street.
Where is this storefront property located?
The property is located at 513 Main St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Strategic Main Street location in Klamath Falls.; Two separate commercial spaces in one seismically improved building.; Currently generating income with month‑to‑month leases from two businesses.
