242/284/292 Market St 10,324 SF Industrial Building Klamath Falls, OR 97601 $921,307 CAD ($89.24 CAD/SF) 10.30% Cap Rate

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.