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Kern Building 125 S 6th St 20,758 SF 100% Leased Flex Building Klamath Falls, OR 97601 $3,100,000 ($149.34/SF) 6.59% Cap Rate
INVESTMENT HIGHLIGHTS
- Multiple Tenants and Low Vacancy
- Excellent condition
- Single long-term tenant with minimal use on the 2nd floor residences (OHSU medical housing)
EXECUTIVE SUMMARY
Prime investment opportunity in the heart of downtown Klamath Falls, southern Oregon. This fully occupied multi-tenant mixed use commercial building offers an excellent mix of long-term tenants including OHSU (Oregon Health Sciences University) residency housing on the recently remodeled 2nd-floor apartments, plus retail and professional offices on the ground level. Current tenants include a chiropractor, property management company, attorney, insurance agent, and retail shops. The building is in excellent condition with numerous updates including a shared elevator. Beautiful building with strong curb appeal. Included in the sale is the adjacent parking lot on a separate tax lot, providing convenience and added value. With a cap rate of 6.5% and a stable tenant base, this property is a solid addition to any investment portfolio. Please do not disturb tenants. Contact listing agent at ayork@windermere.com for rent roll and APOD. Leases and showings will be made available as part of buyer's due diligence. Owner will not carry. No showings until after an accepted offer. Do Not Disturb Tenants.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$253,825
|
$12.23
|
| Other Income |
$16,624
|
$0.80
|
| Vacancy Loss |
$5,902
|
$0.28
|
| Effective Gross Income |
$264,547
|
$12.74
|
| Taxes |
$7,999
|
$0.39
|
| Operating Expenses |
$47,409
|
$2.28
|
| Total Expenses |
$55,408
|
$2.67
|
| Net Operating Income |
$209,139
|
$10.08
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $253,825 |
| Annual Per SF | $12.23 |
| Other Income | |
|---|---|
| Annual | $16,624 |
| Annual Per SF | $0.80 |
| Vacancy Loss | |
|---|---|
| Annual | $5,902 |
| Annual Per SF | $0.28 |
| Effective Gross Income | |
|---|---|
| Annual | $264,547 |
| Annual Per SF | $12.74 |
| Taxes | |
|---|---|
| Annual | $7,999 |
| Annual Per SF | $0.39 |
| Operating Expenses | |
|---|---|
| Annual | $47,409 |
| Annual Per SF | $2.28 |
| Total Expenses | |
|---|---|
| Annual | $55,408 |
| Annual Per SF | $2.67 |
| Net Operating Income | |
|---|---|
| Annual | $209,139 |
| Annual Per SF | $10.08 |
PROPERTY FACTS
| Price | $3,100,000 | Lot Size | 0.27 AC |
| Price Per SF | $149.34 | Rentable Building Area | 20,758 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 6.59% | Year Built/Renovated | 1920/1990 |
| Sale Condition | 1031 Exchange | Parking Ratio | 0.77/1,000 SF |
| Property Type | Flex | Opportunity Zone |
Yes
|
| Zoning | GC - Zoned General Commercial (Note: No County records on year built, which is estimated as 1920 and completely renovated in the 1990's) | ||
| Price | $3,100,000 |
| Price Per SF | $149.34 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| Sale Condition | 1031 Exchange |
| Property Type | Flex |
| Lot Size | 0.27 AC |
| Rentable Building Area | 20,758 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/1990 |
| Parking Ratio | 0.77/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | GC - Zoned General Commercial (Note: No County records on year built, which is estimated as 1920 and completely renovated in the 1990's) |
AMENITIES
- Controlled Access
- Storage Space
- Air Conditioning
- Smoke Detector
UTILITIES
- Lighting
- Gas - Natural
- Water
- Sewer
- Heating
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Books-2-Taxes Bookkeeping
- Finance and Insurance
- 724 SF
- -
- Modified Gross
- -
- Farmer's Insurance
- Finance and Insurance
- 824 SF
- -
- -
- -
- Golden Beauty Salon
- Services
- 825 SF
- -
- Modified Gross
- -
- Indigo Beads
- Retailer
- 834 SF
- -
- -
- -
- Lakeside Property Management
- Rental and Leasing Services
- 980 SF
- -
- Modified Gross
- -
- Oregon Health Sciences University
- Health Care and Social Assistance
- 10,000 SF
- -
- Triple Net
- -
- PNW Tattoo Shop
- Services
- 450 SF
- -
- Modified Gross
- -
- Scott Carter Law Office
- Professional, Scientific, and Technical Services
- 1,855 SF
- -
- Modified Gross
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Books-2-Taxes Bookkeeping | Finance and Insurance | 724 SF | - | Modified Gross | - | |
| Farmer's Insurance | Finance and Insurance | 824 SF | - | - | - | |
| Golden Beauty Salon | Services | 825 SF | - | Modified Gross | - | |
| Indigo Beads | Retailer | 834 SF | - | - | - | |
| Lakeside Property Management | Rental and Leasing Services | 980 SF | - | Modified Gross | - | |
| Oregon Health Sciences University | Health Care and Social Assistance | 10,000 SF | - | Triple Net | - | |
| PNW Tattoo Shop | Services | 450 SF | - | Modified Gross | - | |
| Scott Carter Law Office | Professional, Scientific, and Technical Services | 1,855 SF | - | Modified Gross | - |
1 1
Walk Score®
Very Walkable (82)
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Kern Building | 125 S 6th St
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