Baker Tower 1705 Main St 22 Unit Apartment Building $1,800,000 ($81,818/Unit) 7.54% Cap Rate Baker City, OR 97814

Nestled between the Elkhorn and Wallowa Mountains along the historic Oregon Trail, Baker City is a picturesque town offering breathtaking landscapes and endless outdoor adventures. From hiking and backcountry skiing to rock and ice climbing, mountain biking, boating, hunting, and fishing, this vibrant community is a haven for outdoor enthusiasts.
At the heart of Baker City’s historic downtown district stands Baker Tower, the tallest building in Oregon east of the Cascades. Surrounded by charming local shops, dining destinations, and cultural attractions, this area seamlessly blends historic character with modern conveniences— making it an ideal location for an office or office building
investment.
Now is your chance to own a premier investment property in Baker City! This landmark 34,900 SF building boasts five floors of office and retail space, currently configured into 15 distinct suites, along with four floors dedicated to seven multifamily residences, making it a prime opportunity for multifamily or high-rise investors. Originally built in 1929, the property underwent a significant renovation in 1999, preserving its classic architectural charm while incorporating modern upgrades. Situated in the BHD-zoned district, it
offers a lucrative investment in a thriving market. With its rich history, strategic location, and strong tenant appeal, this property is poised for long-term financial growth. Don’t miss this exceptional opportunity to invest in the future of Baker City!
Multiple Paths to Success:
- Each floor is a separate condo giving a buyer the ability to sell retail and office floors to owner users, and the multifamily floors as duplexes, and a penthouse. Call broker for more details and potential condo pricing.
- Office Floors 2 through 5 could be converted back to their original multi family use.
- The property has 2 cell phone towers, and a buyer could sell off the cell tower leases. This could potentially be done in conjunction with closing on the property as a simultaneous dual closing. Call broker for more details and potential cell tower pricing.
- Some or all the Multifamily could be converted to short term rentals or temporary housing for traveling nurses working at St. Alphonsus Medical Center Baker City Emergency Department, US Department of Agricultural Forest Service employees, and seasonal workers.
- Suites 104 and 105, the Fireplace Room, and Ballroom are advertised as event spaces. Both suites could be rented for events to generate additional income, or could be converted to office or retail suites and provide additional income with longer term leases.
- Municipal funds available - check with city and county.