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

    NW Lee Street Madras, OR 97741

    View on Map
    Claim this Listing
    Pending
    $1,000,000

    LAND - Madras, OR

    Lot size:
    19.54 Acres
    Added:
    Sep 1, 2023
    Days on Market:
    961
    Last Refresh:
    Apr 18 at 1:06 pm

    Property Features for NW Lee Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    1089
    Lot size
    19.54 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2528

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Mackenzie Anne Licea

    Listing agent Mackenzie Anne Licea License #201249022

    Listing office Coldwell Banker Sun Country 715 NW 3rd St, Prineville, OR

    Listing date Sep 1, 2023

    MLS# 220170662

    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

    Land For Sale in Madras

    This 19.54-acre land parcel presents a development opportunity in Madras, Oregon. The property offers views of the Cascade Mountains and overlooks the city. Its location provides convenient access to shopping and outdoor recreational activities, including boating, hiking, camping, and skiing.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Madras
    County
    Jefferson
    State
    Oregon
    Longitude
    -121.129896
    Latitude
    44.646857

    Nearby Similar for Sale

    • $2,100,000
      3,000 SF

      Modern Industrial/Ag Building in Madras

      Versatile commercial property in Airport Development zone, Madras, Oregon.
      500 NW Cherry Lane, Madras, OR 97741
      View Details
    • $499,000
      2,760 SF

      Commercial Property on Highway 97

      Fenced commercial property with building on Hwy 97.
      780 SW 4th Street, Madras, OR 97741
      View Details
    • $1,100,000
      20,900 SF

      Industrial Agriculture Opportunity in Madras

      20,900 SF industrial property with office and warehouse space.
      3390 SW Hwy 97, Madras, OR 97741
      View Details
    • $750,000

      6-Acre Development Opportunity in Madras

      Prime land parcel with potential for residential development in Madras.
      NE A Street, Madras, OR 97741
      View Details
    • $650,000

      407 Acres with Cascade Views

      Large parcel with approved farm dwelling and mountain views.
      SE Grizzly Road, Madras, OR 97741
      View Details
    • $225,000

      Prime Commercial Land in Madras

      1.40 acre commercial parcel with development potential in Madras, Oregon.
      Hwy 97, Madras, OR 97741
      View Details
    • $299,900

      Commercial Lots in Madras, Oregon

      Three commercially zoned lots on a busy main street.
      660 SW 4th Street, Madras, OR 97741
      View Details
    • $79,995

      Residential Land with Mountain Views

      Premium homesite in Madras with Cascade Mountain views.
      SE Larkspur Drive, Madras, OR 97741
      View Details
    • $74,900

      Residential Lot with Cascade Views

      Build-ready lot in Madras with mountain views and utilities.
      1092 SE BLUEGRASS Ln, Madras, OR 97741
      View Details
    • $545,900
      2,038 SF

      New Duplexes with Mountain Views

      New construction duplexes in Madras, Oregon with Cascade Mountain views.
      925 SE Starview Avenue, Madras, OR 97741
      View Details
    • $65,000

      Residential Land in Yarrow Subdivision

      Corner lot with mountain views in vibrant Madras community.
      SE Greenleaf Ln, Madras, OR 97741
      View Details
    • $85,000

      Residential Lot in Yarrow Subdivision

      0.18 acre lot in Madras, Oregon with mountain views.
      1053 SE Greenleaf Lane, Madras, OR 97741
      View Details

    FAQs

    What type of property is this?
    Commercial land - 19.54 acre land parcel, Cascade Mountain views, close to town.
    Where is this commercial land located?
    The property is located at NW Lee Street Madras, OR.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Development opportunity for a multi‑use community.; Cascade Mountain views.; Overlooking the city of Madras.
    (541) 999-5353
    We can help!
    Listing Contact
    Mackenzie Anne Licea
    Real Estate License ID: 201249022
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!