Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    28585 Highway 70 Bonanza, OR 97623

    Sponsored
    For Sale
    $295,000

    COMMERCIAL - Bonanza, OR

    Property size:
    3,910 SF
    Lot size:
    0.39 Acres
    Days on Market:
    33
    Last Refresh:
    Feb 28 at 4:06 am

    Property Features for 28585 Highway 70

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    APN
    606525
    Parking features
    On Street
    Interior features
    Laminate Counters, Vaulted Ceiling(s)
    Basement
    Partial
    Size
    3,910 SF
    Lot size
    0.39 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Well

    Building Details

    Year built
    1937
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl, Tile, Concrete
    Building materials
    Concrete
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Dee Leininger

    Fisher Nicholson Realty, LLC (541) 884-1717

    Listing agent Dee Leininger (541) 233-8344

    Listing date Jan 27, 2026

    MLS# 220130477

    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

    Historical Longhorn Saloon and Restaurant

    This property presents an opportunity to own the historical Longhorn Saloon and Restaurant, a commercial landmark on the main street of Bonanza, Oregon, since 1937. The property, with a size of 3910 square feet and a lot size of 0.39 acres, includes a restaurant and a large dining room featuring a natural stone fireplace and sliding doors that open to a spacious bar. The bar area includes a stage, pool table, Oregon Lottery Video Poker, and Keno. A full modern kitchen is located between the restaurant and dining room. The property also features a privately fenced area out back, which is shaded and includes a horseshoe pit and tables for outdoor dining. The Longhorn has been known as a local gathering spot and is located across from Big Springs Park. The property has potential for various business uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Map

    City
    Bonanza
    County
    Klamath
    State
    Oregon
    Longitude
    -121.402042
    Latitude
    42.199226

    Nearby Similar for Sale

    • $295,000
      0.39 Acres

      Historical Bonanza Restaurant and Saloon

      Charming, well-known restaurant and saloon with outdoor dining area.
      28585 Highway 70, Bonanza, OR 97623
      View Details
    • $275,000
      2,820 SF

      Updated Commercial Building in Bonanza

      Spacious, updated commercial building near Big Springs Park and Lost River.
      31990 Highway 70, Bonanza, OR 97623
      View Details
    • $865,000
      1,944 SF

      Irrigated Ranch with River Frontage

      86+ acres with river frontage, remodeled home, and farm infrastructure.
      7122 E Langell Valley Rd, Bonanza, OR 97623
      View Details
    • $449,000
      1,120 SF

      Turnkey Hobby Farm & Homestead

      Ready-to-go homestead on 3.5 acres, perfect for sustainable living.
      26919 Highway 140, Bonanza, OR 97623
      View Details
    • $360,000
      Pending

      Bonanza Ranch and Farm

      68+ acre ranch and farm property in Bonanza, Oregon.
      13196 E Langell Valley Rd, Bonanza, OR 97623
      View Details
    • $275,000
      0.33 Acres

      Bonanza Office Building For Sale

      Updated office building in Bonanza, Oregon, near Big Springs Park.
      31990 Highway 70, Bonanza, OR 97623
      View Details
    • $295,000
      3,910 SF

      Historic Bonanza Saloon & Restaurant

      Charming landmark, established 1937, high potential.
      28585 Highway 70, Bonanza, OR 97623
      View Details
    • $275,000
      2,820 SF

      Historic Bonanza Commercial Building

      Spacious Offices, Updated, Prime Location
      31990 Highway 70, Bonanza, OR 97623
      View Details

    FAQs

    What type of property is this?
    Bar - Charming commercial landmark in Bonanza, Oregon, since 1937.
    Where is this bar located?
    The property is located at 28585 Highway 70 Bonanza, OR.
    What is the asking price?
    The asking price for this property is $295,000.
    (541) 884-1717
    Request Owner's contact information
    28585 Highway 70 Bonanza, OR 97623
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    28585 Highway 70
    Bonanza, OR 97623
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    28585 Highway 70 Bonanza, OR 97623
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dee Leininger
    Real Estate License ID: 200606433
    (541) 884-1717 (541) 233-8344
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!