Commercial Property in the Heart of Downtown 394 NE Belknap St 8,740 SF 100% Leased Retail Building Prineville, OR 97754 $2,312,102 CAD ($264.54 CAD/SF) 6.50% Cap Rate

Prime Downtown Commercial Investment – Heart of Prineville, Oregon
This iconic 8,740 sq ft multi-tenant commercial building sits on 0.31 acres (13,440 sq ft lot) in the thriving heart of downtown Prineville. Zoned C-1 and steps from Main Street, this property offers excellent visibility, foot traffic, and easy access across from the fire station and community park.
Built in 1945 and proudly owned by a longtime Prineville family before us, the building served as a beloved local butcher shop for decades. In 2022, following a fire, we fully rebuilt 2,000 sq ft of the largest unit from the ground up and completely updated the electrical system in the 4,000 sq ft unit with 3-phase power. Recent improvements also include a new roof, ADA bathroom updates, new insulation, and professional HVAC cleaning/maintenance throughout.
Owner financing available with agreeable terms.
Property Features:
Three separate tenant units: storage/retail, front retail/studio space, and office space
Large shop door, high ceilings, street signage, and a paved alleyway for additional outdoor use or expansion
HVAC throughout, city water & septic, high-capacity internet
Ample parking and strong curb appeal in a flourishing downtown
Fully leased with stable, happy tenants on current 5-year renewable leases at market rates. This turn-key income-producing property has been 100% occupied since we purchased it in 2022. Annual property taxes are $10,421.20.
Priced at $1,628,000 with flexible owner-carry financing available on agreeable terms. Motivated seller — flexible closing. Serious inquiries only with proof of qualifications. No showings without pre-qualification to respect our excellent tenants. Buyer’s realtor fees are open for discussion. Attorney and Western Title in Prineville ready to handle smooth closing.
This is more than a building — it’s a piece of Prineville’s hardworking American spirit with tremendous upside in a town that celebrates its ranching roots, rodeos, fairs, and small business owners.
Contact owner Candace Frantz directly:
frantzcr@gmail.com
541-279-1062