Bend, OR Shop on
For Sale
$299,000
Pending
17037 Downey Road, Bend, OR 97707
Land, Bend, OR
Property Size1,920 SF
Lot Size0.57 Acres
Days on Market326
Property Features for 17037 Downey Road
General Information
Property type
Land
Property subtype
Other
Zoning description
RR10, AS, WA
Subdivision
Deschutes River Recreation Homesites
Lot features
Fenced, Level, Native Plants
View
Territorial
Elementary school
Three Rivers Elem
Middle school
Three Rivers
High school
Caldera High
Standard status
Pending
APN
115626
Size
1,920 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
660
Utilities
Utilities
Cable Available
Water source
Well
Building Details
Additional Structures
Storage
Listing Agency:
Century 21 North Homes Realty · Century 21 Real Estate
(541) 593-8688
Listed By:
Keith Petersen · License #980500151
(541) 815-0906
Added: Oct 9, 2025
Changed: Aug 19
Last Checked: Aug 30 at 6:06AM
MLS# 220210420
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property features a .57 acre lot improved with a 40 x 48 shop, fenced with a wrap-around gravel driveway and double gates for accessibility. The shop includes a 25 x 40 concrete entry pad, one 10 x 14 RV door, and a man door. The interior features a concrete floor, insulation, plywood sheeting painted white, an auto lift, air compressor, and LED lighting. Additional features include a well, heat, a large overhead fan, a mezzanine, and a 40 ft Conex storage container. This property is located in Bend, Oregon, and presents an opportunity for a storage shop and work shop.
Key Highlights
- .57 acre lot with a 40 x 48 shop
- Shop includes auto lift, air compressor, and high‑end LED lights
- Shop is insulated and plywood sheeted with a concrete floor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,620
$354.6K
Cap Rate 7%
$253,300
$253.3K
Cap Rate 9%
$197,011
$197.0K
Market Conditions
NOI Build-Up for 1,920 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.0K $13.56/SF
− Vacancy
−$706 −$0.37/SF
EGI
$25.3K $13.19/SF
− OpEx
−$7.6K −$3.96/SF
NOI
$17.7K $9.23/SF
Area
Bend, OR
Vacancy
2.71%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,620
Cap Rate 7%
$253,300
Cap Rate 9%
$197,011
Alternative Uses
Best Use
Retail
$660.8K
$578.2K – $770.9K
NOI $46,255 @ 7.0% cap · market cap 15.47%
Second Best
Industrial
$253.3K
$221.6K – $295.5K
NOI $17,731 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$829.4K
$725.8K – $967.7K
NOI $58,061 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97707, OR
7,833
Population
8,021
Households
1
Avg Household Size
54
Median Age
50%
College-Educated
98%
High-School Grad
62.7 sq mi
ZIP Area
125
Density / Sq Mi
$83,405
Median Household Income
$52,284
Median Earnings
$2,298
Median Rent
$559,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Deschutes Windshield — 16836 Downey Rd, Bend, OR 97707
Frequently Asked Questions
What type of property is this?
Auto shop - Shop on .57 acre lot with fenced wrap-around driveway.
Where is this auto shop located?
The property is located at 17037 Downey Road Bend, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: .57 acre lot with a 40 x 48 shop; Shop includes auto lift, air compressor, and high‑end LED lights; Shop is insulated and plywood sheeted with a concrete floor
