Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Foley Dr Burns, OR 97720

    • Land
    • 2.80 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Foley Dr

    Lot size
    2.80 lot acres
    Property type
    Land

    Description

    This exceptional 2.8-acre commercial lot in Burns, Oregon, presents a unique investment opportunity. Located on N Foley Dr in Harney County, this property boasts a prime location just north of Main Street, offering convenient access to downtown Burns and various nearby stores. Currently zoned for residential use, the land provides flexibility for future development. The property's current use involves a single annual alfalfa hay cutting, and it offers potential for livestock storage. While not currently connected to city services, water, sewer, and power lines run along the western property boundary on Foley Drive, providing readily available utility access. This versatile land parcel offers the potential for continued agricultural use or development into a future homesite, accommodating both residential needs and the possibility of keeping livestock. The asking price for this 2.8-acre lot is $60,000, making it an attractive proposition for investors seeking a strategically located property in Eastern Oregon with multiple potential uses. The zip code is 97720.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Burns
    County
    Harney
    State
    Oregon
    Longitude
    -119.059
    Latitude
    43.598

    Comparable in this City

    • Value Estimation by Request
      161.67 Acres

      30492 Stancliff Rd

      Land • 161.67 Acres
      30492 Stancliff Rd, Burns, OR 97720
      View Details
    • Value Estimation by Request
      0.48 Acres

      Jefferson St

      Land • 0.48 Acres
      0 Jefferson St, Burns, OR 97720
      View Details
    • Value Estimation by Request
      20.00 Acres

      T23S T/L 700

      Land • 20.00 Acres
      T23S T/L 700, Harney, OR 97720
      View Details
    • Value Estimation by Request
      453.85 Acres

      29975 Sunset Valley Ln

      Land • 453.85 Acres
      29975 Sunset Valley Ln, Burns, OR 97720
      View Details
    • Value Estimation by Request
      8.14 Acres

      Rock Ave

      Land • 8.14 Acres
      0 Rock Ave, Burns, OR 97720
      View Details
    • Value Estimation by Request
      320.00 Acres

      61545 Highway 205

      Land • 320.00 Acres
      61545 Highway 205, Burns, OR 97720
      View Details

    Similar Nearby for Sale

    • $125,000
      160.00 Acres

      Eastern Oregon Commercial Land

      160 Acres, $125,000
      T24S Tl 4800, Harney, OR 97720
      View Details
    • $3,400,000
      1,473.23 Acres

      Eastern Oregon Ranch - $3.4M

      1,473 Acres, Irrigated Farm, Outbuildings
      0 Weaver Springs Rd, Burns, OR 97720
      View Details
    • $170,000
      205.00 Acres

      Eastern Oregon Ranch Land

      205-Acre Commercial Land Parcel
      T24S Tl 3100, Harney, OR 97720
      View Details
    • $60,000
      0.48 Acres

      Burns, OR Commercial Land - $60K

      0.48-acre commercial lot, fenced, utilities nearby.
      0 Jefferson St, Burns, OR 97720
      View Details
    • $1,700,000
      760.00 Acres

      T24S 1300

      Farms • 760.00 Acres
      T24S 1300, Harney, OR 97720
      View Details
    • $35,000
      0.23 Acres

      Hines Commercial Lot - Hwy 20 Frontage

      Prime .23-acre commercial lot, Hwy 20 access.
      0 Highway 20, Burns, OR 97720
      View Details
    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.
    Foley Dr
    Burns, OR 97720
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.