Improved Commercial Corner
For Sale
Contact for pricing
3350 S 6th St, Klamath Falls, OR 97603
Prime commercial lot with improvements and income potential.
Property Size1,782 SF
Lot Size0.67 Acres
Price / SF$221.66
Days on Market1119
Property Features for 3350 S 6th St
General Information
Standard status
Active
Size
1,782 SF
Class
A
Total Parking Spaces
20
Lot size
0.67 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
CG
Investment Type
Redevelopment
Building Details
Stories
1
Units
1
Listing Agency:
Coldwell Banker Holman Premier Realty
(541) 891-0296
Listed By:
Wendy Clark · License #OR
Source:
Crexi
Added: Aug 9, 2023
Changed: Aug 16
Last Checked: Aug 29 at 9:18PM
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 Coldwell Banker Holman Premier Realty
Investment Insights
Based on property information with market context.
This improved 2/3 acre corner lot features frontage on South 6th Street and is zoned for general commercial use. The property is fully paved and lighted and includes a large custom modular building that can either remain or be removed to accommodate other uses. A large signage structure is present on the property. The property benefits from income generated by an Outfront Media billboard lease. It has a DEQ Conditional No Further Action certification. The location offers excellent ingress and egress at a major intersection of Altamont and S. 6th, providing high visibility near the County Fair Grounds and other established businesses. The property is adjacent to the OC&E Trail. The file includes a full legal description, DEQ Conditional NFA, easement and equitable servitudes, economic reports, and average daily vehicle reports available upon request. The property contains a 1,782 square foot building.
Key Highlights
- High‑visibility corner lot with South 6th Street frontage zoned General Commercial.
- DEQ Conditional No Further Action (NFA) certification.
- Income‑generating Outfront Media billboard 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
$17,963
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
4.55%
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%
$359,260
$359.3K
Cap Rate 7%
$256,614
$256.6K
Cap Rate 9%
$199,589
$199.6K
Market Conditions
NOI Build-Up for 1,782 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
$29.9K $16.80/SF
− Vacancy
−$6.0K −$3.36/SF
EGI
$24.0K $13.44/SF
− OpEx
−$6.0K −$3.36/SF
NOI
$18.0K $10.08/SF
Area
Klamath County, OR
Vacancy
20.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$359,260
Cap Rate 7%
$256,614
Cap Rate 9%
$199,589
Alternative Uses
Best Use
Office B
$256.6K
$224.5K – $299.4K
NOI $17,963 @ 7.0% cap · market cap 4.55%
Second Best
Mixed Use
$230.8K
$202.0K – $269.3K
NOI $16,158 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$364.2K
$318.7K – $425.0K
NOI $25,497 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 97603, OR
31,302
Population
13,568
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
91%
High-School Grad
340.6 sq mi
ZIP Area
92
Density / Sq Mi
$64,272
Median Household Income
$41,124
Median Earnings
$987
Median Rent
$251,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime commercial lot with improvements and income potential.
Where is this mixed-use property located?
The property is located at 3350 S 6th St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: High‑visibility corner lot with South 6th Street frontage zoned General Commercial.; DEQ Conditional No Further Action (NFA) certification.; Income‑generating Outfront Media billboard lease.
