Self Storage Facility with Cabin
For Sale
$999,999
5405 Highway 97, Klamath Falls, OR 97601
Self storage facility with a front cabin/office and pellet stove, plus storage unit sizes ranging from 5x5 to 17x30.
Property Size5,800 SF
Lot Size2.96 Acres
Price / SF$172.41
Days on Market392
Property Features for 5405 Highway 97
General Information
Standard status
Active
Size
5,800 SF
Lot size
2.96 Acres
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$8,834
Amenities
Central Air, Heat Pump
3
Hardwood
Composition
Gravel.
Mountain
1.9600000381469727
RV/Boat Parking, Extra Storage. Ground Level Unit.
Building Details
Year Built
1987
Stories
1
Listing Agency:
Oregon Adventure Realty
(541) 991-2577
Listed By:
Christopher Trotter
(541) 991-2577
Source:
Xome
Added: Jul 16, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:31AM
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 Oregon Adventure Realty
Investment Insights
Based on property information with market context.
This property is a self storage facility featuring a cabin/office located at the front of the site. The cabin/office is approximately 905 square feet and includes 2 bedrooms and 1 bathroom, with a new pellet stove. Storage units vary in size from 5x5 up to 17x30, providing options for different storage needs.
The facility is located right off Highway 97 N in Klamath Falls, Oregon. The primary property is 1.96 acres, and it also includes an additional tax lot at the end of the site totaling 1 acre.
That second tax lot has been used for boat and RV storage, creating another source of income alongside the self storage units. The property is offered for sale with the opportunity for updating and ongoing management.
The facility is located right off Highway 97 N in Klamath Falls, Oregon. The primary property is 1.96 acres, and it also includes an additional tax lot at the end of the site totaling 1 acre.
That second tax lot has been used for boat and RV storage, creating another source of income alongside the self storage units. The property is offered for sale with the opportunity for updating and ongoing management.
Key Highlights
- Self‑storage facility on 1.96‑acre lot with a front cabin/office (905 SF) off Hwy 97 N
- Cabin/office features 2 bedrooms and 1 bath with a new pellet stove
- Storage unit sizes range from 5x5 to 17x30
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
$61,123
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
6.11%
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%
$1,222,460
$1.2M
Cap Rate 7%
$873,186
$873.2K
Cap Rate 9%
$679,144
$679.1K
Market Conditions
NOI Build-Up for 5,800 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
$74.8K $12.90/SF
− Vacancy
−$2.9K −$0.50/SF
EGI
$71.9K $12.40/SF
− OpEx
−$10.8K −$1.86/SF
NOI
$61.1K $10.54/SF
Area
Klamath County, OR
Vacancy
3.89%
Lease Rate
$12.90 /SF/Yr
Expense Ratio
15.00%
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%
$1,222,460
Cap Rate 7%
$873,186
Cap Rate 9%
$679,144
Alternative Uses
Best Use
Warehouse
$873.2K
$764.0K – $1.02M
NOI $61,123 @ 7.0% cap · market cap 6.11%
Second Best
Self Storage
$704.4K
$616.3K – $821.8K
NOI $49,305 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,985 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self storage facility with a front cabin/office and pellet stove, plus storage unit sizes ranging from 5x5 to 17x30.
Where is this self storage facility located?
The property is located at 5405 Highway 97 Klamath Falls, OR.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Self‑storage facility on 1.96‑acre lot with a front cabin/office (905 SF) off Hwy 97 N; Cabin/office features 2 bedrooms and 1 bath with a new pellet stove; Storage unit sizes range from 5x5 to 17x30
