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121 NE 3rd St
Prineville, OR 97754
Retail Property For Sale
Investment Highlights
- 100% Leased NNN Investment
- High-Visibility Downtown Location surrounded by retail, lodging, and local businesses
- Passive Investment with minimal landlord responsibilities under the NNN lease
- Established Tenant operating successfully in Prineville for over 10 years
- Growing Central Oregon Market
- Impressive 7.5% CAP Rate
Executive Summary
Prime downtown Prineville NNN investment opportunity! This 5,800 SF property, offered at $1,250,000 with an impressive 7.50% CAP rate, is fully leased with a brand-new 5-year term beginning August 2025 and a 5-year renewal option. Enjoy 3% annual rent increases for built-in income growth. Situated on 0.33 acres with coveted C1 Central Commercial zoning, the building features a fully equipped commercial kitchen, full-service bar, and prime visibility in the city’s vibrant core. Anchored by Crossroads BBQ Pit & Pub—a proven tenant and community favorite for over a decade—this property benefits from steady local and tourist traffic. Located adjacent to the newly renovated High Desert Inn with on-site parking, this stable, income-producing asset is set in one of Central Oregon’s fastest-growing communities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,800 SF
Building Class
C
Year Built
1991
Price
$1,250,000
Price Per SF
$215.52
Cap Rate
7.50%
NOI
$93,750
Percent Leased
100%
Building Height
1 Story
Building FAR
0.40
Lot Size
0.33 AC
Opportunity Zone
Yes
Zoning
C1 - Central Commercial
Parking
20 Spaces (3.45 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Restaurant
Property Taxes
| Parcel Number | 015041 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $719,510 |
Property Taxes
Parcel Number
015041
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$719,510
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