242/284/292 Market St - Manufacturing FOR SALE


Klamath Falls, OR 97601
$660,000 USD
541-331-0060
242/284/292 Market St, Klamath Falls, OR for Sale
$660,000 USD
Manufacturing - FOR SALE
1/16
null | 10.3% Cap Rate

242/284/292 Market St
Klamath Falls, OR 97601


HIGHLIGHTS

  • Tenant Term through December 31, 2028
  • Tenant has One (1) 5-Year Option to Renew
  • Current Rent of $5,665 / Month ($67,980 / Yr)
  • 3% Annual Rent Increase due November 2025
  • 242 Building: ±6,600 SF / 284 Building: ±6,955 SF (estimated sizes)
  • ±10,454 SF Parking Lot / Yard (292 Parcel) (potential to add fence / gate)

OVERVIEW

This investment property is located in the heart of Klamath Falls, Oregon, on Market Street, ±8 blocks to downtown Klamath Falls, and just one mile to Highway 97-South, and 1/2 mile to Highway 39-South and Highway 97-North. There are two contiguous buildings on the site that total ±13,555 square feet, with an adjacent third parcel parking lot / yard space - with potential to be fenced in. There is also on-street parking in front of the buildings as well as each space offering a grade level drive-in door. All utilities serve site and there is a small office and restroom in the 242 building. Both buildings are leased by Desert Lake Technologies for manufacturing Oregon Drytech dryers, a subsidiary of the tenant, used for its own operations. Additionally, Oregon Drytech dryers are sold to the food processing industry. The current NOI is $67,980 per year with an annual 3% increase due in November 2025, per the terms of the existing NNN lease. The current term runs through December 31, 2028, with the Tenant retaining one (1) 5-year option to renew. ADDITIONAL ITEM OF NOTE: One block away the same ownership also currently has for offer a ±42,400 square foot warehouse at 615 Spring Street, and a ±61,300 square foot cold storage complex at 661-801 Spring Street. Please contact Listing Broker Jason de Vries for additional detail on those FOR SALE or FOR LEASE properties.

FOR SALE DETAILS

PRICE

$660,000 USD

PRICE/SF

$64 USD /SF

CAP RATE

10.3%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

UTILITIES

Water - City, Sewer - City, Heating - Electric

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.54

LAND SF

23,740

ZONING

LI

APN/PARCEL ID

R414634,R414643,R414652

ASK ABOUT THIS PROPERTY

Allison YorkCushman & Wakefield of Oregon, Inc.More Info
541-331-0060

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Allison YorkCushman & Wakefield of Oregon, Inc.More Info
541-331-0060

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.