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    225 E Schonchin Street Chiloquin, OR 97624

    View on Map
    For Sale
    $295,000

    COMMERCIAL - Chiloquin, OR

    Property size:
    14,500 SF
    Lot size:
    2.88 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 2 at 7:06 am

    Property Features for 225 E Schonchin Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Window features
    Aluminum Frames
    Basement
    Daylight, Full
    Standard status
    Active
    APN
    753973
    Size
    14,500 SF
    Lot size
    2.88 Acres

    Taxes and HOA fees

    TaxYear
    2025

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Propane (Heating)
    Water source
    Public

    Building Details

    Floors in Building
    2
    Number of units
    1
    Flooring type
    Concrete, Carpet, Hardwood
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Andra L Wessel

    Listing agent Andra L Wessel License #201111028

    Listing office Crater Lake Realty,Inc. 33550 N Highway 97, Chiloquin, OR

    Listing date Feb 2, 2026

    MLS# 220216250

    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.

    Overview

    Chiloquin Historic Gym on Large Lot

    This stand-alone gym, with a size of approximately 14,500 square feet, is located in Chiloquin, Oregon. Constructed in the early 1950s, it is situated on a 2.88 acre lot and is the last remaining structure from the former Chiloquin Elementary and High School. The property offers parking, providing flexibility for events, recreation, or future redevelopment. The main level features a gym floor, stage area, concession space, and restrooms. The gym was updated five years ago, and newer bleachers were installed in July 2015. The lower level has a concrete daylight basement with locker rooms, restrooms, storage areas, and mechanical units. The building is heated by propane and supported by two 1,000-gallon propane tanks. Improvements include a composition roof, estimated to have been replaced 12 years ago, Hardie Board siding, and a new water heater. This property presents a unique opportunity for community, institutional, recreational or adaptive reuse purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Big Box & Wholesale Store Dental Office Kitchen & Bath Showroom Grocery & Convenience Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Chiloquin
    County
    Klamath
    State
    Oregon
    Longitude
    -121.860666
    Latitude
    42.575425

    Nearby Similar for Sale

    • $1,000,000
      672 SF

      Williamson River Frontage Farm

      304 acre farm with 3200 feet of river frontage.
      31130 Modoc Point Road, Chiloquin, OR 97624
      View Details
    • $1,200,000

      Irrigated Land Near Highway 97

      466.86 acres of irrigated hay and pasture land for sale.
      No Situs Ave, Chiloquin, OR 97624
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Historical 14,500 SF gym on 2.88 acres for sale.
    Where is this fitness center & gym located?
    The property is located at 225 E Schonchin Street Chiloquin, 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: Large 14,500 sq ft gym on 2.88 acres, suitable for community, institutional, recreational, or adaptive reuse.; Historically significant property: the last remaining structure from the former Chiloquin Elementary and High School.; Updated gym with newer bleachers (installed July 2015).
    (541) 281-2180
    We can help!
    Listing Contact
    Andra L Wessel
    Real Estate License ID: 201111028
    Learn More
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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
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