1. Oregon
  2. Prineville
  3. 121 3rd Street NE
$1,310,000

121 3rd Street NE, Prineville, OR 97754

  • 5,800 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1972
  • Property Lot Size Icon0.33acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $226/sqft
  • Property List Date Icon Listed 21 days ago

Property Description

Prime downtown Prineville NNN investment opportunity! This 5,800 SF property, offered at $1,310,000 with a 7.15% 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.

Listing Status:
Active
Date Added:
August 11, 2025 at 05:00AM
Listing Office:
Green Tree Commercial Real Estate : 503-689-4498
MLS ID:
220207468
  • Flooring: LaminateVinyl
  • A/C: Central Air
  • Heating: ElectricForced Air

This listing courtesy of Green Tree Commercial Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Steins Pillar Elementary School

640 East 3rd St, Prineville, OR, 97754

Grades KG-4

0.32 miles away

C

Crook County Middle School

100 NE Knowledge St, Prineville, OR, 97754

Grades 6-8

0.67 miles away

P

Pioneer Secondary Alternative High School

641 E 1st St, Prineville, OR, 97754

Grades 9-12

0.34 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.