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    28585 Highway 70 Bonanza, OR 97623

    Sponsored
    For Sale
    $295,000

    Charming landmark, established 1937, high potential.

    Property size:
    3,910 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional commercial property, located at 28585 Hwy 70 in Bonanza, Oregon, presents a unique investment opportunity. The well-known Longhorn Saloon and Restaurant, a local landmark since 1937, occupies a 3,910 square foot building situated on a 0.39-acre lot. The property boasts a large dining room featuring a natural stone fireplace and sliding doors leading to a spacious bar area. The bar includes a stage, a pool table, and Oregon Lottery Video Poker and Keno machines. A fully equipped modern kitchen, renowned for its quality food, is conveniently located between the restaurant and dining room. The property also includes a privately fenced outdoor area, perfect for al fresco dining, complete with a horseshoe pit and shaded tables. Its prime location across from Big Springs Park makes it an ideal gathering spot and ensures high visibility. Priced at $295,000, this property offers significant potential for continued success and growth within the Bonanza community. The established reputation and existing infrastructure provide a solid foundation for a new owner to build upon.

    Property Features for 28585 Highway 70

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,910 SF
    Lot Size
    16,988 SF

    Building Details

    Year Built
    1937
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Bonanza
    County
    Klamath
    State
    Oregon
    Longitude
    -121.4389
    Latitude
    42.21879

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    FAQs

    What type of property is this?
    Commercial real estate - Charming landmark, established 1937, high potential.
    Where is this commercial real estate 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
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    Bonanza, OR 97623
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    Realmo Value Estimation

    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.

    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.

    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
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