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    615 S Spring St Klamath Falls, OR 97601

    Sponsored
    Picture of Warehouses at S Spring St 615, Klamath Falls, OR
    For Lease
    $0.50 SF/Yr ($2,178 /Mo)

    G - Klamath Falls, OR

    Property size:
    42,400 SF
    Lot size:
    1.20 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 14 at 8:06 pm

    Property Features for 615 S Spring St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    I
    APN
    478227
    Parking features
    On Street
    Exterior features
    Dock
    Dock
    1
    Size
    42,400 SF
    Lot size
    1.20 Acres

    Utilities

    Heating system
    Natural Gas, None (Heating)

    Building Details

    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block, Frame
    Roof type
    Membrane
    Architectural style
    Other

    Windermere Real Estate Kf (541) 885-4400 [email protected]

    Listing agent Allison K York (541) 885-4400 License #200409050

    Listing date Jan 13, 2026

    MLS# 220201760 Listing URL

    Copyright © 2026 Klamath County Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Klamath Falls Warehouse Spaces Available

    Dry warehouse spaces are available for lease, totaling approximately 42,400 square feet. Building 5 offers 13,200 square feet of dry storage, equipped with fire sprinklers but without heat or water. Building 6 provides 9,700 square feet of dry storage. Building 7 encompasses 19,500 square feet of dry storage and has the potential to be refrigerated, though it is not currently a freezer. The lease price ranges from $0.40 to $0.50 per square foot per month, contingent on the amount of space leased. This is a NNN lease, requiring the tenant to cover utilities and a proportionate share of taxes, insurance, and common area maintenance. The property is located at 615 S Spring Street, Klamath Falls, OR 97601 and is zoned I. The lot size is 1.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Market Street Storage-Managed by Rookstool Moden Property Mangement, Spring Street Storage, Azul Mini Storage, A & O Storage, Main Street Self Storage

    Location Insight

    • Map
    • Local Demand
    City
    Klamath Falls
    County
    Klamath
    State
    Oregon
    Longitude
    -121.772205
    Latitude
    42.223336

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    FAQs

    What type of property is this?
    Warehouse - Dry warehouse spaces available for lease in Klamath Falls.
    Where is this warehouse located?
    The property is located at 615 S Spring St Klamath Falls, OR.
    What is the lease rate?
    The lease rate is $0.50 SF/Yr.
    What are key features of this property?
    This property features: - Large dry warehouse spaces available: Approximately 42,400 sq. ft. total.; - Flexible space options: Multiple buildings with varying square footage (13,200 sq. ft., 9,700 sq. ft., and 19,500 sq. ft.).; - Bldg 7 (19,500 sq. ft.) can be refrigerated, offering refrigeration potential.
    (541) 331-0060
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    615 S Spring St Klamath Falls, OR 97601
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    Klamath Falls, OR 97601
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    615 S Spring St Klamath Falls, OR 97601
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