6366 6Th St Klamath Falls, OR 97603

Property Details for 6366 6Th St

Year built

1940

Lot size

1.03 lot acres

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fully leased 8,240-square-foot storefront animal hospital located at 6366 S 6th St, Klamath Falls, OR 97603. Built in 1940 and situated on a 1.03-acre lot, the property boasts a strong tenant, Western Veterinary Partners, a national operator with over 240 locations, providing a corporate guarantee. The current lease, a Net Net + (NN+) agreement, commenced July 31, 2020, and expires February 28, 2030, with two 5-year renewal options. The annual rent increases by the greater of 2% or the Consumer Price Index (CPI). The property generates a substantial Net Operating Income (NOI) of $86,803, resulting in an attractive 8.00% capitalization rate. The asking price is $1,085,038. This location benefits from high visibility on a key retail corridor, with nearby retailers including The Home Depot, Albertsons, Sunbelt Rentals, Klamath Community College, and Dutch Bros. The property offers minimal landlord responsibilities and capitalizes on the robust growth of the veterinary services market, projected to expand significantly in the coming years. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term potential.