Historic redevelopment opportunity in downtown Klamath Falls. Formerly the iconic Arcade Hotel, this four-story commercial building offers approximately 10,500 sq.ft. and exceptional potential for investors, developers, or adaptive reuse projects. Original features include a distinctive brick façade, tall lobby ceilings, Douglas fir flooring, and original wood banisters. Upper floors have been taken down to the studs, creating a blank canvas for restoration. Recent improvements include roof repairs, debris removal, a new 400-amp meter main, new 400-amp sub panel, and a new sewer line in the building, providing a cleaner start for redevelopment. Zoned General Commercial with public utilities available. The building requires substantial rehabilitation, including seismic retrofit. Previously selected for Oregon Main Street Revitalization Grant funding. Buyer to perform all due diligence.