Restaurant Building with
For Sale
$135,000
Pending
23270 Sprague River Road, Sprague River, OR 97639
Commercial Sale, Sprague River, OR
Property Size960 SF
Lot Size0.12 Acres
Days on Market734
Property Features for 23270 Sprague River Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RUC-C
Parking features
Parking Lot
Patio and Porch features
Patio
Interior features
Granite Counters
Subdivision
Sprague River
Lot features
Level
Directions
Highway 97 N to Chiloquin right on South Chiloquin Road Right on to Chocktoot left on Sprague River Road to the town of Sprague River Running Bear Deli on the Right
Standard status
Pending
APN
332401
Size
960 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
934
Utilities
Sewer type
Septic Tank
Heating system
Oil
Water source
Public
Building Details
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Tile
Building materials
Frame
Roof type
Metal
Listing Agency:
Rookstool Moden Realty Llc
(541) 883-3781
Listed By:
Pixie M Souza · License #200502305
(541) 883-3781
Added: Aug 29, 2024
Changed: Aug 28
Last Checked: Sep 1 at 10:06PM
MLS# 220189062
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.
The property includes a 960-square-foot restaurant building on a 0.12-acre parcel, with equipment included in the sale. Interior features include granite counters, vinyl and tile flooring, and a patio. The frame structure has a metal roof and oil heating.
Located at 23270 Sprague River Road in Sprague River, Oregon, the property is served by public water and a septic tank. A parking lot provides on-site vehicle parking. The building was formerly operated as The Running Bear Deli, and the sale combines the real estate with restaurant equipment.
Located at 23270 Sprague River Road in Sprague River, Oregon, the property is served by public water and a septic tank. A parking lot provides on-site vehicle parking. The building was formerly operated as The Running Bear Deli, and the sale combines the real estate with restaurant equipment.
Key Highlights
- 960‑square‑foot restaurant building on a 0.12‑acre parcel
- Restaurant equipment included with the real estate
- Granite counters with vinyl and tile flooring
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
$9,419
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
6.98%
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%
$188,380
$188.4K
Cap Rate 7%
$134,557
$134.6K
Cap Rate 9%
$104,656
$104.7K
Market Conditions
NOI Build-Up for 960 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
$13.2K $13.80/SF
− Vacancy
−$689 −$0.72/SF
EGI
$12.6K $13.08/SF
− OpEx
−$3.1K −$3.27/SF
NOI
$9.4K $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%
$188,380
Cap Rate 7%
$134,557
Cap Rate 9%
$104,656
Alternative Uses
Best Use
Specialty Retail
$134.6K
$117.7K – $157.0K
NOI $9,419 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.2K
$171.7K – $228.9K
NOI $13,736 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97639, OR
231
Population
109
Households
2.1
Avg Household Size
61
Median Age
100%
High-School Grad
57.1 sq mi
ZIP Area
4
Density / Sq Mi
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes restaurant equipment, a patio, and on-site parking lot.
Where is this conventional restaurant located?
The property is located at 23270 Sprague River Road Sprague River, OR.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 960‑square‑foot restaurant building on a 0.12‑acre parcel; Restaurant equipment included with the real estate; Granite counters with vinyl and tile flooring
