30771 Highway 97Chiloquin, OR 97624

Property Details for 30771 Highway 97

Lot size

1.12 AC

Property size (Sq ft)

2,610 SF

Zone code

CT

Property type

Retail properties

Property subtype

Turn key restaurants

APN

R-3507-028D0-01200-000

APU

R3507028D001200000

Description

This exceptional 8.74-acre commercial property in Chiloquin, Oregon, is strategically located on Highway 97, boasting excellent visibility and accessibility. The property offers significant commercial frontage, including a convenient turn lane directly in front, ensuring high traffic exposure. Priced at $480,000, this versatile land presents a unique investment opportunity. Previously home to a towing company and restaurant, the site offers established infrastructure and potential for diverse uses. The property includes two existing wells, adding significant value and utility. The expansive lot size allows for various development possibilities, including the potential for residential construction or even an RV park. With 15 parking spaces and a metal roof on existing structures, this property is ready for your vision. The property features electric heating and window unit air conditioning in existing structures. Its proximity to the Kla-Mo-Ya Casino & Hotel (just three minutes away) further enhances its appeal and potential for increased foot traffic and business opportunities. This prime location in Klamath County, Oregon (zip code 97624) offers a rare chance to acquire a substantial commercial parcel with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $786,175

  6.5%

  $725,700

  7%

  $673,864

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,685,276

  Geo Method

  $1,685,276

• Alternative Use

  Use

  Valuation

  Residential

  $612,155

  Hospitality

  $560,731

  Educational

  $466,522

  Medical

  $482,566

  Retail

  $725,700

Location Insight

City

Chiloquin

County

Klamath

State

Oregon

Latitude

42.5032

Longitude

-121.879

CBSA code

28900

CBSA name

KLAMATH FALLS, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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