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    15468 Highway 66 Keno, OR 97627

    Sponsored
    For Sale
    Pending
    $485,000

    COMMERCIAL - Keno, OR

    Property size:
    2,000 SF
    Lot size:
    0.50 Acres
    Days on Market:
    38
    Last Refresh:
    Feb 28 at 4:06 am

    Property Features for 15468 Highway 66

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    APN
    501175
    Parking features
    On Street, Parking Lot
    Patio and Porch features
    Patio
    Basement
    Partial
    Size
    2,000 SF
    Lot size
    0.50 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Wood, Natural Gas
    Cooling system
    Evaporative Cooling
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    3
    Flooring type
    Hardwood
    Building materials
    Frame
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Stacy Ellingson

    Fisher Nicholson Realty, LLC (541) 884-1717

    Listing agent Stacy Ellingson (541) 591-4322

    Listing date Jan 22, 2026

    MLS# 220183986

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Tavern with Expansion Potential

    This commercial property in Keno, Oregon, presents an opportunity to acquire a location equipped for immediate operation. The historic Whoa Tavern includes all equipment and furnishings. The tavern features a fully stocked bar and space for activities such as lottery, pool, live music, and BBQs. The back space includes a wood-burning stove, two restrooms, and a back door leading to an outdoor patio with a horseshoe pit and corn hole boards. The property also includes three additional tax lots: a three-bedroom, two-bath home; a corner building suitable for a coffee shop or retail space; and a large barn/metal building. A food truck is also included, offering expansion possibilities. The tax lots are identified as 501184 - 15430 Hwy 66/1117 Park (0.33 acres, zoned commercial, taxes $842.67/2024), 621786 - 15380 Ferry St (1.83 acres, zoned R2, taxes $817.16/2024), and 621795 - Lot (0.37 acres, zoned commercial, taxes $842.67/2024). The property size is approximately 2000 square feet, situated on a lot of 0.5 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Big Box & Wholesale Store Department Store Storage Facility Bar & Pub Discount Store Grocery & Convenience Store Clothing & Fashion Store Computer & Electronic Repair Wine and Liquor Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Watering Hole Of America - W.H.O.A. Tavern

    Location Insight

    • Map
    • Local Demand
    City
    Keno
    County
    Klamath
    State
    Oregon
    Longitude
    -121.930194
    Latitude
    42.125748

    Nearby Similar for Sale

    • $485,000
      Pending

      Historic Tavern with Expansion Potential

      Turnkey tavern with equipment, home, and additional commercial lots.
      15468 Highway 66, Keno, OR 97627
      View Details

    FAQs

    What type of property is this?
    Bar - Commercial property with tavern, home, and additional lots for sale.
    Where is this bar located?
    The property is located at 15468 Highway 66 Keno, OR.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: - Established tavern with all equipment and furnishings included for immediate operation.; - Includes three additional tax lots with commercial and residential zoning, offering diverse development potential.; - Comes with a separate 3-bed, 2-bath home.
    (541) 884-1717
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    15468 Highway 66 Keno, OR 97627
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    Keno, OR 97627
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15468 Highway 66 Keno, OR 97627
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    We can help!
    Listing Contact
    Stacy Ellingson
    Real Estate License ID: 200502384
    (541) 884-1717 (541) 591-0133 (541) 591-4322
    Learn more
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