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    33468 Sodhouse Ln Princeton, OR 97721

    Sponsored
    For Sale
    $715,000

    COMMERCIAL - Princeton, OR

    Property size:
    2,930 SF
    Lot size:
    15.96 Acres
    Days on Market:
    19
    Last Refresh:
    Feb 28 at 4:06 am

    Property Features for 33468 Sodhouse Ln

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Window features
    Double Pane Windows
    APN
    92669
    Parking features
    RV
    Interior features
    Laminate Counters
    Exterior features
    Fire Pit, RV Dump, RV Hookup
    Size
    2,930 SF
    Lot size
    15.96 Acres

    Utilities

    Sewer type
    Septic Tank, Holding Tank
    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s), Heat Pump
    Water source
    Private, Well

    Building Details

    Year built
    2001
    Floors in Building
    1
    Number of units
    42
    Flooring type
    Laminate, Tile
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Alexander P Robertson
    Alexander P Robertson

    Fay Ranches (541) 419-0770

    Listing agent Alexander P Robertson (541) 420-2394

    Listing date Feb 10, 2026

    MLS# 220208972

    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

    RV Park, Bar & Grill

    The Narrows RV and Jackalope Bar & Grill, situated near the Malheur National Wildlife Refuge and approximately 25 minutes from Burns, Oregon, serves as a gateway to the Steens Mountains Wilderness. This commercial property includes a 41-space RV park, a small store, a cafe, a bar, and a gas station, providing multiple income streams for tourists and local ranchers. The property spans 15.96 acres and includes a 2,930 square foot building. The RV park features a backdrop of southeast Oregon's scenic areas with a concentration of wildlife. While most RV spots are rented to short-term tenants, a handful of full-time residents enjoy the park throughout the year. The park also has one small cabin, which is a consistent earner. The clean and well-designed amenities of the park offer on-site services such as gas, food, essentials, and recreation, allowing it to compete with parks in Burns for more full-time residents. The property is located in Princeton, Oregon.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Narrows RV Park Campground & RV Park Jackalope Bar & Grill Bar & Pub

    Suggested Use

    Bed & Breakfast Hotel & Motel Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Harney
    State
    Oregon
    Longitude
    -118.957518
    Latitude
    43.25647

    Nearby Similar for Sale

    • $715,000
      15.96 Acres

      Princeton, OR RV Park

      41-space RV park with bar, grill, and gas station.
      33468 Sodhouse Ln, Princeton, OR 97721
      View Details
    • $975,000
      2,008 SF

      Princeton, Oregon Farm and Estate

      280-acre farm with modern home and agricultural infrastructure.
      60646 Anderson Valley Rd, Princeton, OR 97721
      View Details

    FAQs

    What type of property is this?
    Campground - Destination RV park, bar & grill near Malheur Wildlife Refuge.
    Where is this campground located?
    The property is located at 33468 Sodhouse Ln Princeton, OR.
    What is the asking price?
    The asking price for this property is $715,000.
    What are key features of this property?
    This property features: - Prime location near Malheur National Wildlife Refuge and Steens Mountains Wilderness, attracting tourists and locals.; - Multiple income streams from RV park (41 spaces), store, cafe, bar, and gas station.; - On-site amenities include gas, food, essentials, and recreation.
    (800) 238-8616
    Request Owner's contact information
    33468 Sodhouse Ln Princeton, OR 97721
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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
    33468 Sodhouse Ln Princeton, OR 97721
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    We can help!
    Listing Contact
    Alexander P Robertson
    Alexander P Robertson
    Real Estate License ID: 201218114
    (800) 238-8616 (541) 420-2394
    Learn more
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