Restaurant Property with Highway
For Sale
$140,000
109661 Highway 97, Chemult, OR 97731
Private well, natural gas, and two septic tanks serve the property.
Property Size1,410 SF
Price / SF$99.29
Days on Market30
Property Features for 109661 Highway 97
General Information
Standard status
Active
Size
1,410 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1965
Listing Agency:
Crescent Lake Realty, Inc
(541) 433-5368
Listed By:
Donna Werner · License #780203954
Source:
Evokepropertypartners
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 30 at 8:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crescent Lake Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1965, this 1,410-square-foot restaurant property is offered in its existing condition and includes frontage along Highway 97. The site is supported by a private well, natural gas service, and 2 septic tanks.
Two residential lots accompany the commercial property, with the potential for use by a business owner or caretaker as described. The property is located at 109661 Highway 97 in Chemult, Oregon.
Two residential lots accompany the commercial property, with the potential for use by a business owner or caretaker as described. The property is located at 109661 Highway 97 in Chemult, Oregon.
Key Highlights
- 1,410‑square‑foot restaurant property built in 1965
- Highway 97 frontage at 109661 Highway 97
- Two residential lots included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,221
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,420
$244.4K
Cap Rate 7%
$174,586
$174.6K
Cap Rate 9%
$135,789
$135.8K
Market Conditions
NOI Build-Up for 1,410 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.6K $13.20/SF
− Vacancy
−$1.2K −$0.82/SF
EGI
$17.5K $12.38/SF
− OpEx
−$5.2K −$3.71/SF
NOI
$12.2K $8.67/SF
Area
Klamath County, OR
Vacancy
6.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,420
Cap Rate 7%
$174,586
Cap Rate 9%
$135,789
Alternative Uses
Best Use
Specialty Retail
$197.6K
$172.9K – $230.6K
NOI $13,835 @ 7.0% cap · market cap 9.88%
Second Best
Retail
$174.6K
$152.8K – $203.7K
NOI $12,221 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$288.2K
$252.2K – $336.2K
NOI $20,174 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 97731, OR
257
Population
112
Households
2.3
Avg Household Size
48
Median Age
10%
College-Educated
100%
High-School Grad
67.3 sq mi
ZIP Area
4
Density / Sq Mi
$61,739
Median Household Income
$21,339
Median Earnings
$312,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Private well, natural gas, and two septic tanks serve the property.
Where is this conventional restaurant located?
The property is located at 109661 Highway 97 Chemult, OR.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 1,410‑square‑foot restaurant property built in 1965; Highway 97 frontage at 109661 Highway 97; Two residential lots included with the property
