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    724 Knight Dr Hines, OR 97738

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    724 Knight Dr Hines, OR 97738

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    • Commercial real estate
    • 0.81 lot acres
    Off-Market
    Property ID
    US71-1094796
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 724 Knight Dr

    Lot size
    0.81 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.81-acre commercial lot in Hines, Oregon, presents a unique opportunity for development. Located in the desirable Garland Acres neighborhood, this property boasts breathtaking views of Harney County and is situated amongst well-maintained custom homes. The lot is zoned R-1 Residential, allowing for the construction of a single-family residence. With its prime location and picturesque setting, this is an ideal site for building a dream home. The legal description is T23S R30E WM Sec 140B TL 1200x2100. The asking price is $65,000, with financing options including cash or terms acceptable to the seller. Property taxes for 2022-2023 were $236.95. Water access is provided through a private water system. This is one of the few remaining lots in this sought-after area, making it a truly rare find. The address is 724 Knight Drive, Hines, OR 97738. Don't miss this chance to own a piece of Eastern Oregon's beauty and build your ideal home in a tranquil, established community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hines
    County
    Harney
    State
    Oregon
    Longitude
    -119.087182
    Latitude
    43.576189

    Comparable in this City

    • $265,000
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      Hines Vacant Land with Utilities

      18.57 acres with power, well, and valley views.
      71132 Hines Logging Rd, Hines, OR 97738
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    • $69,000
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      Industrial Land with Concrete Structure

      9.7 acre industrial lot with existing concrete structure.
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      Hines Oregon Industrial Corner Lot

      Corner lot in Hines, Oregon, zoned for industrial use.
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    • $1,200,000
      480.00 Acres

      Eastern Oregon Recreational Grazing Land

      480 acres with irrigated meadows, timber, and hunting opportunities.
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    • $89,000
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      Industrial Land in Hines, Oregon

      10.77 acres of industrial land with concrete pad.
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    • $350,000
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      Residential Land in Wapiti Meadows

      16-acre residential land with utilities in Hines, Oregon.
      Tbd Tbd, Hines, OR 97738
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    Similar Nearby for Sale

    • $265,000
      18.57 Acres

      Hines Vacant Land with Utilities

      18.57 acres with power, well, and valley views.
      71132 Hines Logging Rd, Hines, OR 97738
      View Details
    • $69,000
      9.70 Acres

      Industrial Land with Concrete Structure

      9.7 acre industrial lot with existing concrete structure.
      TL800 Snow Mountain Ave, Hines, OR 97738
      View Details
    • Contact for pricing

      Hines Oregon Industrial Corner Lot

      Corner lot in Hines, Oregon, zoned for industrial use.
      Lottery Ln & Snow Mtn, Hines, OR 97738
      View Details
    • $1,200,000
      480.00 Acres

      Eastern Oregon Recreational Grazing Land

      480 acres with irrigated meadows, timber, and hunting opportunities.
      600 Hines Logging Rd, Hines, OR 97738
      View Details
    • $89,000
      10.77 Acres

      Industrial Land in Hines, Oregon

      10.77 acres of industrial land with concrete pad.
      TL800 Lottery Ln, Hines, OR 97738
      View Details
    • Contact for pricing
      0.32 Acres

      Large Vacant Lot in Hines

      0.32 acre lot ready for building in Hines, OR.
      137 S Saginaw Ave, Hines, OR 97738
      View Details
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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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