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    15072 Cottonwood Creek Rd Fields, OR 97710

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    For Sale
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    1,027 Acres, Two Homes, Abundant Water Rights

    Property Features for 15072 Cottonwood Creek Rd

    General Information

    Property type
    Farms
    Lot Size
    44,777,066 SF

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    Listing Contact
    Curt Blackburn

    Listing Agency: Jett Blackburn Real Estate Inc. Listing Agent: Curt Blackburn

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 1,027+/- acre Eastern Oregon ranch, situated in Harney County near Fields (zip code 97710), presents a unique investment opportunity. The property boasts 658+/- acres of deeded water rights, supplemented by two BLM permits with self-sufficient water sources (springs and windmill/solar wells). Irrigation is provided by creeks and a well, supporting two pivots (one with a variable frequency drive). The land features beautiful rolling hills with native high desert vegetation, ideal for grazing. The ranch is capable of supporting 300 head of cattle and producing sufficient hay. Improvements include two homes—a charming 3-bedroom, 1-bathroom sod house and a remodeled 4-bedroom, 2-bathroom manufactured home—along with a shop, working corrals, a livestock shed, and additional storage buildings. All improvements are conveniently located near Cottonwood Creek. Recreational opportunities abound in the surrounding area, including hunting, horseback riding, and stargazing, with nearby attractions such as the Pueblo Mountains and Steens Mountain. The ranch offers a blend of historical charm (the original sod house) and modern functionality, making it a truly balanced and self-sufficient operation. Asking price is $3,450,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Fields
    County
    Harney
    State
    Oregon
    Longitude
    -118.4838301
    Latitude
    42.0598208

    FAQs

    What type of property is this?
    Farm - 1,027 Acres, Two Homes, Abundant Water Rights
    Where is this farm located?
    The property is located at 15072 Cottonwood Creek Rd Fields, OR.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: Exceptional Eastern Oregon Ranch opportunity.; Harney County land offering significant acreage.; Prime land available in Fields, Oregon.
    (541) 413-5777 Call to check price and availability
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    15072 Cottonwood Creek Rd Fields, OR 97710
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    Fields, OR 97710
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    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
    15072 Cottonwood Creek Rd Fields, OR 97710
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    Contact for Pricing
    Please call us for current price
    and status of this listing
    Curt Blackburn
    (541) 413-5777 (541) 413-5660 (541) 573-7206
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