Sign Up Successful!
You now have access to more from Realmo!
    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

    8600 Prairie Schooner Rd SE, Unit Schooner Prineville, OR 97754

    Sponsored
    For Sale
    $535,000

    Residential Lots - Prineville, OR

    Lot size:
    58.72 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 7 at 11:06 am

    Property Features for 8600 Prairie Schooner Rd SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Rrm5; Recreational Reside
    APN
    4375
    Lot size
    58.72 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Dawn Lay

    EXP REALTY LLC (888) 814-9613

    Listing agent Jessica Dawn Lay (888) 814-9613 License #201227845

    Listing date Feb 3, 2026

    MLS# 220214386 Listing URL

    Copyright © 2026 MLS of Central Oregon. 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

    Prineville Residential Land Opportunity

    This 58.72-acre property presents an opportunity with usable, buildable land. The property is fenced on three sides and gated. Seven approved parcels are already created. Septic feasibility has been completed on all 7 lots. The zoning is Rrm5; Recreational Residence. Located minutes from Prineville Reservoir, the land offers access to boating, fishing, and outdoor recreation. The property is accessible from a main road. The land offers views of rock outcroppings and the Central Oregon landscape. The property can be used to build multiple homes or as a retreat for a dream home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Prineville
    County
    Crook
    State
    Oregon
    Longitude
    -120.715789
    Latitude
    44.176091

    Nearby Similar for Sale

    • $433,000
      1,560 SF

      Prineville Mixed-Use Corner Property

      Versatile, renovated mixed-use property in downtown Prineville with income potential.
      150 SW Deer St, Prineville, OR 97754
      View Details
    • New
      $724,900
      1,500 SF

      Prineville Triplex Investment Opportunity

      Triplex with three spacious units, great investment potential.
      1000 10Th St, Prineville, OR 97754
      View Details
    • $650,000
      0.16 Acres

      Downtown Corner Commercial Building

      Prime downtown Prineville corner with drive-through advantage.
      103 NW 3Rd St, Prineville, OR 97754
      View Details
    • New
      $599,000
      2,512 SF

      Income-Producing Triplex in Prineville, OR

      Cash-flowing triplex with established tenants and strong income potential.
      646 NE Court St, Prineville, OR 97754
      View Details
    • New
      $1,090,000
      0.21 Acres

      Downtown Prineville Multi-Tenant Office Building

      Multi-tenant office building in downtown Prineville, fully leased.
      267 NE 2Nd St, Prineville, OR 97754
      View Details
    • $424,900
      2,012 SF

      Prineville Duplex: Investment Opportunity

      Newer duplex with open design, garages, and included appliances.
      937 NW Cains Rd, Prineville, OR 97754
      View Details
    • $1,500,000
      Pending

      Prineville Mobile Home Park Investment

      Income-producing mobile home park on 4.89 acres in Prineville, Oregon.
      1900 NW Madras Hwy, Prineville, OR 97754
      View Details
    • $650,000
      0.18 Acres

      Commercial Building on US Hwy 26

      3,000 sqft commercial building in growing Prineville community.
      862 NW 3Rd St, Prineville, OR 97754
      View Details
    • $475,000
      0.29 Acres

      Prineville Commercial Building For Sale

      Commercial building in downtown Prineville with multiple entrances and parking.
      430 NW 4Th St, Prineville, OR 97754
      View Details
    • $420,000
      Pending

      Versatile Office/Residential Property, Prineville

      Office space convertible to residential with ADU potential in Prineville.
      296 S Main St, Prineville, OR 97754
      View Details
    • $385,000
      0.07 Acres

      Downtown Prineville Retail/Office Opportunity

      Versatile 1,740 sq ft building in Prineville's vibrant downtown.
      250 NE 3Rd St, Prineville, OR 97754
      View Details
    • $550,000
      1.17 Acres

      Prineville Shop on 1.17 Acres

      3370 SF shop on 1.17 acres, fully fenced.
      701 SE Combs Flat Rd, Prineville, OR 97754
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 58.72 acres with 7 approved parcels near Prineville Reservoir.
    Where is this residential land & home lot located?
    The property is located at 8600 Prairie Schooner Rd SE, Unit Schooner Prineville, OR.
    What is the asking price?
    The asking price for this property is $535,000.
    What are key features of this property?
    This property features: - 58.72 acres of usable, buildable land with 7 approved parcels.; - Septic feasibility completed on all 7 lots.; - Fenced on 3-sides and gated for privacy and security.
    (888) 814-9613
    Request Owner's contact information
    8600 Prairie Schooner Rd SE, Unit Schooner Prineville, OR 97754
    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.
    8600 Prairie Schooner Rd SE, Unit Schooner
    Prineville, OR 97754
    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
    8600 Prairie Schooner Rd SE, Unit Schooner Prineville, OR 97754
    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
    Jessica Dawn Lay
    Real Estate License ID: 201227845
    (888) 814-9613
    Learn more
    Google sign-in failed. Please try again or use another login method.