Mixed-Use Property with
For Sale
$749,000
727 NW 3rd Street, Prineville, OR 97754
Shared-living accommodations, a tenant-occupied office, and a separate studio apartment create a varied property configuration.
Property Size2,646 SF
Price / SF$283.07
Days on Market67
Property Features for 727 NW 3rd Street
General Information
Standard status
Active
Size
2,646 SF
Property subtype
Commercial
Zoning
C2; General Commercial
Occupancy
100%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,308
Amenities
shared kitchen
dining
laundry
courtyard spaces
Tile Counters
Building Details
Building Size
2,646 SF
Year Built
1955
Stories
2
Units
6
Tenancy
Multi
Abandoned
No
Listing Agency:
Keller Williams Realty Central Oregon
(541) 585-3760
Listed By:
Nicole Hoff
Source:
Desertskyrealestate
Added: Aug 28
Changed: Oct 25
Last Checked: Oct 29 at 8:26PM
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 Keller Williams Realty Central Oregon
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Investment Insights
Based on property information with market context.
This mixed-use property brings together three distinct spaces: a five-bedroom bunkhouse, a separate two-room office, and a standalone studio ADU apartment. The bunkhouse includes shared kitchen, dining, and laundry areas, plus courtyard space. The office has a long-term tenant, and the property is fully leased. It was built in 1955 and is zoned C2; General Commercial.
The combination of shared residential accommodations, office space, and a separate studio apartment offers a range of existing uses within one property. The bunkhouse’s shared facilities and courtyard are part of the configuration, alongside the separately occupied office and studio unit.
The combination of shared residential accommodations, office space, and a separate studio apartment offers a range of existing uses within one property. The bunkhouse’s shared facilities and courtyard are part of the configuration, alongside the separately occupied office and studio unit.
Key Highlights
- Five‑bedroom bunkhouse with shared kitchen, dining, and laundry areas
- Separate two‑room office occupied by a long‑term tenant
- Standalone studio ADU apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,309
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,180
$746.2K
Cap Rate 7%
$532,986
$533.0K
Cap Rate 9%
$414,544
$414.5K
Market Conditions
NOI Build-Up for 2,646 SF
Gross rent
$63.5K $24.00/SF
− Vacancy
−$3.8K −$1.44/SF
EGI
$59.7K $22.56/SF
− OpEx
−$22.4K −$8.46/SF
NOI
$37.3K $14.10/SF
Area
Crook County, OR
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,180
Cap Rate 7%
$532,986
Cap Rate 9%
$414,544
Alternative Uses
Best Use
Mixed Use
$533.0K
$466.4K – $621.8K
NOI $37,309 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$484.1K
$423.6K – $564.8K
NOI $33,886 @ 7.0% cap · market cap 4.52%
Theoretical Best
Specialty Retail
$1.14M
$1.00M – $1.33M
NOI $80,015 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
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Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Shared-living accommodations, a tenant-occupied office, and a separate studio apartment create a varied property configuration.
Where is this mixed-use property located?
The property is located at 727 NW 3rd Street Prineville, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Five‑bedroom bunkhouse with shared kitchen, dining, and laundry areas; Separate two‑room office occupied by a long‑term tenant; Standalone studio ADU apartment
