Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Grand Ronde Restaurant and Bar Title is generated by Realmo AI

    28405 Salmon River Hwy, Grand Ronde, OR 97347

    View on Map
    Claim this Listing
    New
    For Sale
    $1,350,000

    Business - Grand Ronde, OR

    Type:Business
    Property size:
    5,291 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $255/SF
    Added:
    May 22, 2026
    Days on Market:
    2
    Last Refresh:
    May 23 at 2:06 pm

    Property Features for 28405 Salmon River Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    287427
    Size
    5,291 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4467

    Utilities

    Heating system
    Central, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1947
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    SHAWN RICHARDSON

    Listing agent SHAWN RICHARDSON

    Listing office EXP REALTY, LLC 4800 MEADOWS RD, STE 300, Lake Oswego, OR

    Listing date May 22, 2026

    MLS# 841406 Listing URL

    Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility frontage on Salmon River Highway, a major Oregon travel corridor
    • Proximity to Spirit Mountain Casino
    • Currently operating as a restaurant and bar
    • Strong exposure and steady traffic flow
    • Versatile commercial property suitable for owner‑users, investors, or hospitality operators
    • Central heating and air conditioning

    Overview

    Located at 28405 Salmon River Hwy, Grand Ronde, OR 97347, this commercial property offers a significant opportunity with high-visibility frontage on a major Oregon travel corridor near Spirit Mountain Casino. The property, currently operating as a restaurant and bar, provides strong exposure and steady traffic flow. The building has a size of 5291 square feet and is situated on a lot of 0.45 acres. It is located in Polk County. This versatile commercial property is suitable for owner-users, investors, or hospitality operators seeking a strategic location in the growing Grand Ronde market, with convenient access on Salmon River Highway.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $812.7K
    NOI $73,143 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.04M
    NOI $73,143 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.46M
    NOI $73,143 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $101.6k $19.20
    − Vacancy −$4.1k −$0.77
    EGI $97.5k $18.43
    − OpEx −$24.4k −$4.61
    NOI $73.1k $13.82
    5,291 SF · lease $19.20/SF/yr · vacancy 4.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.04M
    $914.3K – $1.22M (±1% cap)
    NOI $73,143 @ 7.0% cap · market cap 5.42%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.40M
    $1.23M – $1.64M (±1% cap)
    NOI $98,336 @ 7.0% cap · market cap 7.28%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Dental Office Food Market Accounting Firm Grocery & Convenience Store Storage Facility Electrical Service Discount Store (Bike/Boat/Book/etc) Store Wine and Liquor Store Shopping Center & Mall

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Ronde
    County
    Polk
    State
    Oregon
    Longitude
    -123.609786
    Latitude
    45.059368

    FAQs

    What type of property is this?
    Bar & Pub - Commercial restaurant and bar with high visibility in Grand Ronde.
    Where is this bar & pub located?
    The property is located at 28405 Salmon River Hwy Grand Ronde, OR.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: High‑visibility frontage on Salmon River Highway, a major Oregon travel corridor; Proximity to Spirit Mountain Casino; Currently operating as a restaurant and bar
    (208) 912-5591
    We can help!
    Listing Contact
    SHAWN RICHARDSON
    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

    Thank You for Inquiry
    28405 Salmon River Hwy, Grand Ronde, OR 97347
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!