Log In/Sign Up
Your email has been sent.
121 NE 3rd St 5,800 SF 100% Leased Retail Building Prineville, OR 97754 $1,775,875 CAD ($306.19 CAD/SF) 7.50% Cap Rate
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
$1,775,875 CAD
Price Per SF
$306.19 CAD
Cap Rate
7.50%
NOI
$133,191 CAD
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
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Crossroads
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Crossroads | Accommodation and Food Services | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 015041 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,022,208 CAD |
Property Taxes
Parcel Number
015041
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,022,208 CAD
1 of 38
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
121 NE 3rd St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.