Multi-Tenant Flex
For Sale
$1,300,000
723 N Curtis Ct, Sisters, OR 97759
Multi-tenant flex facility anchored by Solid Rock Granite on a new five-year NNN lease.
Property Size6,616 SF
Days on Market92
Property Features for 723 N Curtis Ct
General Information
Standard status
Active
Size
6,616 SF
Property subtype
Industrial
Building Details
Building Size
6,616 SF
Year Built
1995
Tenancy
Multi
Listing Agency:
NAI Cascade
Listed By:
Jenn Limoges, CCIM · License #OR #201207479
(541) 639-2566
Source:
Naiglobal
Added: Jun 7
Changed: Sep 4
Last Checked: Sep 5 at 5:33AM
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 NAI Cascade
Investment Insights
Based on property information with market context.
This versatile multi-tenant flex property is located at 723 N Curtis Ct in Sisters, Oregon. The facility is anchored by Solid Rock Granite under a new five-year NNN lease, providing a stable income foundation while other space remains available within the overall configuration.
Set in the Sisters industrial district, the building supports a mix of tenant-ready flex/industrial uses consistent with its multi-tenant design. The NNN lease structure associated with the anchor tenant is in place, helping define the operating cost framework for the property.
If you’re evaluating a flex-oriented asset with an established anchor tenancy, this property offers a straightforward starting point: a multi-tenant layout and a newly executed, five-year NNN lease with Solid Rock Granite.
Set in the Sisters industrial district, the building supports a mix of tenant-ready flex/industrial uses consistent with its multi-tenant design. The NNN lease structure associated with the anchor tenant is in place, helping define the operating cost framework for the property.
If you’re evaluating a flex-oriented asset with an established anchor tenancy, this property offers a straightforward starting point: a multi-tenant layout and a newly executed, five-year NNN lease with Solid Rock Granite.
Key Highlights
- Multi‑tenant flex facility in the Sisters industrial district
- Year built: 1995
- Anchored by Solid Rock Granite on a new 5‑year NNN lease
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
$74,396
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
5.72%
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%
$1,487,920
$1.5M
Cap Rate 7%
$1,062,800
$1.1M
Cap Rate 9%
$826,622
$826.6K
Market Conditions
NOI Build-Up for 6,616 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
$119.1K $18.00/SF
− Vacancy
−$4.6K −$0.70/SF
EGI
$114.5K $17.30/SF
− OpEx
−$40.1K −$6.05/SF
NOI
$74.4K $11.24/SF
Area
Deschutes County, OR
Vacancy
3.89%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,487,920
Cap Rate 7%
$1,062,800
Cap Rate 9%
$826,622
Alternative Uses
Best Use
Flex RnD
$1.06M
$930.0K – $1.24M
NOI $74,396 @ 7.0% cap · market cap 5.72%
Second Best
Industrial
$872.8K
$763.7K – $1.02M
NOI $61,097 @ 7.0% cap · market cap 4.70%
Theoretical Best
Retail
$2.28M
$1.99M – $2.66M
NOI $159,387 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97759, OR
7,787
Population
5,110
Households
1.5
Avg Household Size
55
Median Age
49%
College-Educated
95%
High-School Grad
545.7 sq mi
ZIP Area
14
Density / Sq Mi
$100,848
Median Household Income
$39,237
Median Earnings
$1,402
Median Rent
$695,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant flex facility anchored by Solid Rock Granite on a new five-year NNN lease.
Where is this flex space located?
The property is located at 723 N Curtis Ct Sisters, OR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Multi‑tenant flex facility in the Sisters industrial district; Year built: 1995; Anchored by Solid Rock Granite on a new 5‑year NNN lease
