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    320 Acres Recreational Land Opportunity Title is generated by Realmo AI

    Merrill Road Unit TL 1800, Prineville, OR 97754

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    For Sale
    $288,000

    320-acre recreational property near Bend, Oregon, with hunting and grazing potential.

    Type:Land / Agriculture
    Property size:
    13,939,200 SF
    Lot size:
    320.00 Acres
    Price / SF:
    $0.02/SF
    Added:
    Jan 14, 2026
    Days on Market:
    133
    Last Refresh:
    May 21 at 11:20 am

    Property Features for Merrill Road Unit TL 1800

    General Information

    Standard status
    Active
    Size
    13,939,200 SF
    Lot size
    320.00 Acres
    Property subtype
    Land / Agriculture

    We can help!

    Listing Contact
    Kristy Marie Stewart
    Kristy Marie Stewart

    Listing agent Kristy Marie Stewart License #201220261

    Listing office Bend Premier Real Estate LLC

    Listing date Jan 14, 2026

    Source Compass

    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 Bend Premier Real Estate LLC

    HighLights

    • 320‑acre property offering privacy and recreational opportunities.
    • Bordered by BLM land on two sides.
    • Eligible for 2 Land Owner Preference (LOP) deer and elk tags in Maury GMU 36.
    • Suitable for RV property and family retreat (May‑October).
    • Located approximately 60 minutes from Bend, Oregon.
    • Fenced perimeter.

    Overview

    This 320-acre property, located approximately 60 minutes from Bend, offers recreational opportunities and privacy. Bordered by BLM land on two sides, the property is situated in the Maury GMU (Game Management Unit 36) and is eligible for 2 LOP (Land Owner Preference) deer and elk tags. Potential uses include star gazing, motocross and ATV recreation, hunting game fowl, cattle and livestock grazing, or use as a feedlot. This unimproved land parcel is suitable as an RV property and family retreat from May to October. Located between Hwy 20 and Hwy 380 (Post-Paulina Hwy), the property is near Antelope Flat Reservoir, Ochoco National Forest, Crooked River Grasslands, and the Maury Mountains, as well as Pine Creek Campground.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Prineville
    County
    Crook
    State
    Oregon
    Longitude
    -120.65
    Latitude
    44.3258

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 320-acre recreational property near Bend, Oregon, with hunting and grazing potential.
    Where is this agricultural land / farmland located?
    The property is located at Merrill Road Unit TL 1800 Prineville, OR.
    What is the asking price?
    The asking price for this property is $288,000.
    What are key features of this property?
    This property features: 320‑acre property offering privacy and recreational opportunities.; Bordered by BLM land on two sides.; Eligible for 2 Land Owner Preference (LOP) deer and elk tags in Maury GMU 36.
    (541) 306-8585
    We can help!
    Listing Contact
    Kristy Marie Stewart
    Kristy Marie Stewart
    Real Estate License ID: 201220261
    Learn More
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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.

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