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    345 4Th St Ontario, OR 97914

    Sponsored
    For Lease
    $18 SF/Yr ($2,500 /Mo)

    1,584 SF Office, High Traffic Area

    Lot size:
    1,584 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 1,584-square-foot commercial office space in Ontario, Oregon, presents a fantastic opportunity for a variety of businesses. Located at 345 SW 4th St, this single-tenant property boasts a desirable location in a high-traffic area, less than half a mile from St. Alphonsus Hospital. The space is currently entirely vacant and ready for immediate occupancy. The layout includes a welcoming reception area, four individual offices providing ample privacy, a convenient restroom, and a functional kitchenette. The property's classification as both medical and traditional office space makes it highly versatile, suitable for a range of professional practices or corporate settings. Situated in Malheur County, Oregon, with a zip code of 97914, this property offers easy access to major transportation routes and a thriving local community. The building's total square footage mirrors the vacant square footage, indicating a completely available space for lease. This presents a unique chance to establish or expand your business in a prime location with excellent visibility and proximity to essential services. The property's features cater to both medical and general office needs, making it an attractive option for a diverse range of potential tenants. Contact us today to schedule a viewing and explore the possibilities.

    Property Features for 345 4Th St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,584 SF
    Total Rate
    2500.08

    Unit(s) available at that property

    Space
    Size
    1,584 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Jim Shipman
    Jim Shipman

    Learn more

    Property Insight Report

    HighLights

    • 1,584 SF vacant office suite in Ontario, OR, ready for immediate occupancy.
    • Located at 345 SW 4th St, less than 0.5 miles from St. Alphonsus Hospital.
    • Features reception area, four private offices, restroom, and kitchenette.
    • Suitable for medical or general office use.
    • Located in Malheur County, OR (97914), with easy access to transportation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Uchida David DDS Dentist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ontario
    County
    Malheur
    State
    Oregon
    Longitude
    -116.9693696
    Latitude
    44.0244612

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    Nearby Similar for Lease

    • New
      $24,000
      16,578 SF

      Ontario, OR Office Space

      Office space featuring individual offices and a conference area.
      49 NW 1St St, Ontario, OR 97914
      View Details
    • $1.00 SF/Yr
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      Office Space with Communal Area

      Office space featuring individual offices and a large communal area.
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      View Details

    FAQs

    What type of property is this?
    Medical office - 1,584 SF Office, High Traffic Area
    Where is this medical office located?
    The property is located at 345 4Th St Ontario, OR.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 1,584 SF vacant office suite in Ontario, OR, ready for immediate occupancy.; Located at 345 SW 4th St, less than 0.5 miles from St. Alphonsus Hospital.; Features reception area, four private offices, restroom, and kitchenette.
    Request Owner's contact information
    345 4Th St Ontario, OR 97914
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    Ontario, OR 97914
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    345 4Th St Ontario, OR 97914
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    We can help!
    Listing Contact
    Jim Shipman
    Jim Shipman
    Real Estate License ID: ID DB46889
    Learn more
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