Mixed-Use Property with
For Sale
$385,000
615 SW Court Ave, Pendleton, OR 97801
Two-level configuration pairs commercial workspace with a remodeled residential unit.
Property Size2,960 SF
Price / SF$130.07
Days on Market68
Property Features for 615 SW Court Ave
General Information
Standard status
Active
Size
2,960 SF
Additional Details
Floor
Upstairs
Office Units
1
Building Details
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Clark Jennings & Asso. OR, LLC
Listed By:
Milne Purchase McLaughlin
(541) 278-9275
Source:
Christiesrealestateevg
Added: Aug 8
Changed: Oct 7
Last Checked: Oct 7 at 3:15PM
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 1920 mixed-use property combines an upstairs office with a remodeled apartment on the lower level. The office contains 1,518 square feet, while the apartment provides 1,742 square feet with three bedrooms and one bathroom. Total property size is 2,960 square feet.
Located at 615 SW Court Ave in Pendleton, the property is within walking distance of the Pendleton Roundup and downtown. The arrangement supports a commercial workspace alongside on-site residential accommodation.
Located at 615 SW Court Ave in Pendleton, the property is within walking distance of the Pendleton Roundup and downtown. The arrangement supports a commercial workspace alongside on-site residential accommodation.
Key Highlights
- 1,518‑square‑foot upstairs office
- 1,742‑square‑foot remodeled downstairs apartment
- Apartment includes 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,128
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,560
$642.6K
Cap Rate 7%
$458,971
$459.0K
Cap Rate 9%
$356,978
$357.0K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$53.3K $18.00/SF
− Vacancy
−$10.4K −$3.53/SF
EGI
$42.8K $14.47/SF
− OpEx
−$10.7K −$3.62/SF
NOI
$32.1K $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 Rate 5%
$642,560
Cap Rate 7%
$458,971
Cap Rate 9%
$356,978
Alternative Uses
Best Use
Office B
$459.0K
$401.6K – $535.5K
NOI $32,128 @ 7.0% cap · market cap 8.34%
Second Best
Mixed Use
$437.7K
$383.0K – $510.6K
NOI $30,636 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$619.6K
$542.2K – $722.9K
NOI $43,374 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,043
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
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?
Mixed-use property - Two-level configuration pairs commercial workspace with a remodeled residential unit.
Where is this mixed-use property 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: 1,518‑square‑foot upstairs office; 1,742‑square‑foot remodeled downstairs apartment; Apartment includes 3 bedrooms and 1 bathroom
