Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakefront Land in Lakeview, Oregon Title is generated by Realmo AI

    Drews' Reservoir, Lakeview, OR 97630

    View on Map
    Claim this Listing
    For Sale
    $69,900

    LAND - Lakeview, OR

    Lot size:
    2.50 Acres
    Added:
    Jul 6, 2016
    Days on Market:
    3607
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for Drews' Reservoir

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-3
    Standard status
    Active
    APN
    ,18783,
    Lot size
    2.50 Acres

    We can help!

    Listing Contact
    Randy Utley

    Listing agent Randy Utley License #940500106

    Listing office Favell-Utley Corporation 120 E. Street N, Lakeview, OR

    Listing date Jul 6, 2016

    MLS# 3005868 Listing URL

    Copyright © 2026 Lake County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Lakefront property on Drew's Reservoir
    • Large 4.32 +/- acre lot, with 2.24 +/- acres above the high water mark
    • Approved for sand filter septic system
    • Zoning A‑3 Rural Center
    • Beautiful, quiet area for lakefront living
    • Close proximity to power

    Overview

    This is a 4.32 acre lakefront building lot, identified as Lot #18, located near Drew's Reservoir. Approximately 2.24 acres are situated above the high water mark. The property is approved for a sand filter septic system. Power is located fairly close to the lot. The buyer will need to drill their own well. The zoning is A-3 Rural Center. Scotts Cabin Circle is not a maintained road, especially during the winter months. For zoning or building questions, contact the Lake County Planning Department.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Lakeview
    County
    Lake
    State
    Oregon
    Longitude
    -120.605
    Latitude
    42.2283

    Nearby Similar for Sale

    • $85,000
      4,233 SF

      Lakeview Multi-Family Opportunity Zone Building

      4,233 sq ft building with multi-residential zoning.
      207 N L St., Lakeview, OR 97630
      View Details
    • $322,000

      Lakeview Oregon 40-Acre Retreat

      40 acres bordering state park and national forest with utilities.
      89384 Hwy 140, Lakeview, OR 97630
      View Details
    • $215,000
      1,650 SF

      Established Restaurant in Lakeview, Oregon

      Thriving restaurant with recent renovations and high traffic location.
      27 N F Street, Lakeview, OR 97630
      View Details
    • $89,900

      Lakeview Acreage with Mountain Views

      16.98 acre home site with mountain and valley views.
      Hwy 140, Lakeview, OR 97630
      View Details
    • $149,900

      Lakeview, OR Commercial Land

      10.68 acre commercial land with highway frontage and geyser views.
      HWY 395, Lakeview, OR 97630
      View Details
    • $26,000

      Commercial Lots Near Highway 395

      Four commercial lots near State Hwy 395 in Lakeview, Oregon.
      S G St/Hwy 395, Lakeview, OR 97630
      View Details
    • $49,900

      Commercial Land on Highway 395

      Vacant commercial land with highway exposure in Lakeview, Oregon.
      HWY 395, Lakeview, OR 97630
      View Details
    • $2,850,000
      2,501 SF

      Oregon Ranch with Water Rights

      561.39-acre organic ranch with custom home and equestrian facilities.
      17425 Andy Hill Rd, Lakeview, OR 97630
      View Details
    • $20,000

      Lakeview, OR 10-Acre Land

      10 acres near Drews Reservoir and Fish Creek.
      Lakeview HWY 140, Lakeview, OR 97630
      View Details
    • $30,000

      Residential Land in Lakeview, Oregon

      Building site available on a 0.27 acre lot.
      Drake St lot: 24, Lakeview, OR 97630
      View Details
    • $42,000

      Residential Lots in Lakeview, Oregon

      Residential lots available within city limits with city utilities.
      Roberta Ave, Lakeview, OR 97630
      View Details
    • $73,000

      Corner Lot in Lakeview, OR

      Residential corner lot near schools with city services.
      S F St, Lakeview, OR 97630
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Lakefront 4.32 acre building lot near Drew's Reservoir.
    Where is this waterfront land located?
    The property is located at Drews' Reservoir Lakeview, OR.
    What is the asking price?
    The asking price for this property is $69,900.
    What are key features of this property?
    This property features: Lakefront property on Drew's Reservoir; Large 4.32 +/- acre lot, with **2.24 +/- acres above the high water mark**; Approved for sand filter septic system
    (541) 947-2161
    We can help!
    Listing Contact
    Randy Utley
    Real Estate License ID: 940500106
    Learn More
    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
    Drews' Reservoir, Lakeview, OR 97630
    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!