Live-Work Office with
615 SW Court Ave Pendleton, OR 97801
615 SW Court Ave, Pendleton, OR, 97801
$385,000
For Sale
$385,000
Office space upstairs with a remodeled downstairs 3-bedroom, 1-bath apartment.
Property Size3,260 SF
Price / SF$118.10
Days on Market357
Property Features for 615 SW Court Ave
General Information
- Standard status
- Active
- Size
- 3,260 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
Clark Jennings & Asso. OR, LLC
(541) 377-7787
Listed by
Milne Purchase McLaughlin
(541) 377-7787
Source
Metanars
Added: Jul 30, 2025 Updated: Jul 19 at 1:08PM Checked: Jul 20 at 4:53AM
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 Clark Jennings & Asso. OR, LLC
Investment Insights
Based on property information with market context.
This live-work property combines an upstairs office with a fully remodeled downstairs apartment. The office level offers 1,518 sq. ft. of space, while the apartment provides 1,742 sq. ft. with 3 bedrooms and 1 bath.
The property is set in a convenient area within walking distance to the Pendleton Roundup and downtown.
For buyers seeking a single building that supports both work and residential use, this configuration offers separate upstairs office space and a remodeled apartment layout in the same property.
The property is set in a convenient area within walking distance to the Pendleton Roundup and downtown.
For buyers seeking a single building that supports both work and residential use, this configuration offers separate upstairs office space and a remodeled apartment layout in the same property.
Key Highlights
- Year built 1920 building with office space upstairs and a remodeled apartment downstairs
- Upstairs office offers 1,518 sq. ft. of space
- Downstairs remodeled apartment includes 3 bedrooms and 1 bath
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.7k | $18.00 |
| − Vacancy | −$11.5k | −$3.53 |
| EGI | $47.2k | $14.47 |
| − OpEx | −$11.8k | −$3.62 |
| NOI | $35.4k | $10.85 |
3,260 SF · lease $18.00/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$505.5K
$442.3K – $589.7K
NOI $35,384 @ 7.0% cap · market cap 9.19%
Second Best
Mixed Use
$482.0K
$421.8K – $562.4K
NOI $33,741 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$682.4K
$597.1K – $796.2K
NOI $47,770 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Office space upstairs with a remodeled downstairs 3-bedroom, 1-bath apartment.
Where is this live-work space located?
The property is located at 615 SW Court Ave Pendleton, OR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Year built 1920 building with office space upstairs and a remodeled apartment downstairs; Upstairs office offers 1,518 sq. ft. of space; Downstairs remodeled apartment includes 3 bedrooms and 1 bath
