Convenience Store with Highway
For Sale
$295,000
109329 The Dalles-California Hwy 97, Chemult, OR 97731
COMMERCIAL - Chemult, OR
Property Size1,907 SF
Lot Size0.17 Acres
Price / SF$154.69
Days on Market843
Property Features for 109329 The Dalles-California Hwy 97
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CG
Parking features
On Street, Parking Lot, Alley
Window features
Vinyl Frames, Wood Frames, Double Pane Windows
Interior features
Laminate Counters, Wired for Sound
Exterior features
Courtyard
Lot features
Fenced, Landscaped
View
Forest, City, Territorial
Standard status
Active
APN
R168721
Size
1,907 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
1354
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Water source
Well
Building Details
Year built
1929
Floors in Building
1
Number of units
2
Flooring type
Laminate, Hardwood
Building materials
Frame
Roof type
Metal
Additional Structures
Mobile Home
Listing Agency:
Dennis Haniford's Cascade Realty
(541) 536-1731
Listed By:
Loretta M Haniford-Crowley · License #201220365
(541) 410-9952
Added: May 4, 2024
Changed: Aug 4
Last Checked: Aug 24 at 4:06AM
MLS# 220181889
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Mountain Market is a locally owned and operated convenience store serving the community since 1939. The property includes a convenience store building and a 1,612 square foot manufactured home with a shop/garage, offering a live-and-work setup or additional rental options. The site covers 0.17 acres and contains 1,907 square feet for the primary store space.
The store has frame construction with a metal roof and a courtyard exterior feature. Interior features include laminate counters and is wired for sound. Heating is provided by natural gas, with evaporative cooling. Parking is available via a parking lot, alley access, and on-street parking.
Utilities include a well water source and a septic tank sewer system.
The store has frame construction with a metal roof and a courtyard exterior feature. Interior features include laminate counters and is wired for sound. Heating is provided by natural gas, with evaporative cooling. Parking is available via a parking lot, alley access, and on-street parking.
Utilities include a well water source and a septic tank sewer system.
Key Highlights
- Convenience store operating since 1939 plus 1,612 SF manufactured home with shop/garage
- Highway frontage on The Dalles‑California Hwy 97 in Chemult
- 0.17‑acre site with 1,907 SF store building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,711
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,220
$374.2K
Cap Rate 7%
$267,300
$267.3K
Cap Rate 9%
$207,900
$207.9K
Market Conditions
NOI Build-Up for 1,907 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.3K $13.80/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$24.9K $13.08/SF
− OpEx
−$6.2K −$3.27/SF
NOI
$18.7K $9.81/SF
Area
Klamath County, OR
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,220
Cap Rate 7%
$267,300
Cap Rate 9%
$207,900
Alternative Uses
Best Use
Specialty Retail
$267.3K
$233.9K – $311.9K
NOI $18,711 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$236.1K
$206.6K – $275.5K
NOI $16,528 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$389.8K
$341.1K – $454.8K
NOI $27,285 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 97731, OR
257
Population
112
Households
2.3
Avg Household Size
48
Median Age
10%
College-Educated
100%
High-School Grad
67.3 sq mi
ZIP Area
4
Density / Sq Mi
$61,739
Median Household Income
$21,339
Median Earnings
$312,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Mountain Market is a convenience store on highway frontage with well and septic service plus a manufactured home with shop/garage.
Where is this grocery and convenience store located?
The property is located at 109329 The Dalles-California Hwy 97 Chemult, OR.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Convenience store operating since 1939 plus 1,612 SF manufactured home with shop/garage; Highway frontage on The Dalles‑California Hwy 97 in Chemult; 0.17‑acre site with 1,907 SF store building
