Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    721 3rd St Ste D Pendleton, OR 97801-3060
    Back to Search
    Property profile & analytics

    721 3rd St Ste D Pendleton, OR 97801-3060

    View on Map
    • Office properties & Spaces
    • 15,138 SF
    • 0.64 lot acres
    Off-Market
    Property ID
    US71-1122501
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 721 3rd St Ste D

    Lot size
    0.64 lot acres
    Property size
    15,138 SF
    Zone code
    R2
    Property type
    Office properties & Spaces
    APN
    2N3211CA00102
    APU
    2N3211CA00102

    Description

    This exceptional 15,138 square foot commercial office building, situated on a 0.64-acre lot at 721 SE 3rd St in Pendleton, Oregon, presents a unique investment opportunity. Constructed in 1938 to Federal Public Works standards, the building boasts timeless style and high-quality materials rarely found in modern construction. The building's layout is thoughtfully designed for optimal functionality, featuring approximately 7,584 square feet on each of its two levels. The interior is ADA compliant and currently configured with numerous individual offices, making it ideal for a single large business or two separate entities. The flexible floor plan allows for easy adaptation to various business needs. Ample parking is provided with over 21 spaces in an adjacent lot. The building's brick exterior adds to its enduring appeal and structural integrity. This property offers significant potential for a discerning investor seeking a well-maintained, historically significant commercial space in a desirable Pendleton location. The asking price is $550,000. This is a rare opportunity to acquire a substantial, well-located commercial property with significant upside potential. The building's size, layout, and prime location make it an attractive option for a wide range of commercial uses. Don't miss this chance to own a piece of Pendleton's history and secure a strong investment for the future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,234,000
      Market price range: $498k - $1.72M
      AI Estimate
      $1,055,000
      Market price range: $487k - $1.72M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,235,000
      Current use
      RETAIL STORES
      $1,090,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pendleton
    County
    Umatilla
    State
    Oregon
    Longitude
    -118.781
    Latitude
    45.6677
    CBSA code
    25840
    CBSA name
    HERMISTON-PENDLETON, OR MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,224 SF

      Pendleton, OR 97801

      OFFICE (GENERAL) • 4,224 SF
      Pendleton, OR 97801
      View Details
    • Value Estimation by Request
      3,280 SF

      132 Ct Ave

      OFFICE (GENERAL) • 3,280 SF
      132 Ct Ave, Pendleton, OR 97801-2231
      View Details
    • Value Estimation by Request
      1,220 SF

      610 Dorion Ave

      OFFICE (GENERAL) • 1,220 SF
      610 Dorion Ave, Pendleton, OR 97801-2037
      View Details
    • Value Estimation by Request
      840 SF

      704 Emigrant Ave

      OFFICE (GENERAL) • 840 SF
      704 Emigrant Ave, Pendleton, OR 97801-2045
      View Details
    • Value Estimation by Request
      0.10 Acres

      322 3rd St

      OFFICE (GENERAL) • 0.10 Acres
      322 3rd St, Pendleton, OR 97801-2120
      View Details
    • Value Estimation
      $805,000
      10,610 SF

      724 Airport Rd

      OFFICE (GENERAL) • 10,610 SF
      724 Airport Rd, Pendleton, OR 97801-4599
      View Details

    Similar Nearby for Sale

    • $860,000

      Pendleton Office and Warehouse Building

      Office and warehouse building with enclosed yard, central location.
      524 SW 12Th St, Pendleton, OR 97801
      View Details
    • Contact for pricing
      16,933 SF

      Historic Church in Downtown Pendleton

      Unique stone building in downtown Pendleton with creative conversion potential.
      352 SE 2Nd St, Pendleton, OR 97801
      View Details
    • $39,100
      0.18 Acres

      Residential Land in Sunridge Area

      Desirable lot in established neighborhood, build your dream home.
      SW 2Nd St, Pendleton, OR 97801
      View Details
    • $60,000
      0.61 Acres

      Buildable Lots with Mountain Views

      Buildable lots in Pendleton with utilities and mountain views.
      NE King Pl, Pendleton, OR 97801
      View Details
    • $300,000
      73.30 Acres

      Pendleton Vacant Land with CRP

      73.3 acres of grassland near Pendleton, Oregon.
      0000 Motanic Rd, Pendleton, OR 97801
      View Details
    • Contact for pricing
      6,000 SF

      Warehouse with Active Railroad Spur

      6,000 SF warehouse with active rail access for sale.
      73541 Highway 331, Pendleton, OR 97801
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr

      Pendleton Warehouse with Enclosed Yard

      8,734 SF warehouse with office, yard, and highway access.
      524 SW 12Th St, Pendleton, OR 97801
      View Details
    • $5,000 /Mo

      Pendleton Retail Hub Anchor Space

      Prime retail space in Pendleton's main retail hub.
      124 S Main St, Pendleton, OR 97801
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    721 3rd St Ste D
    Pendleton, OR 97801-3060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    721 3rd St Ste D, Pendleton, OR, 97801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!