Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Redmond Land: Live/Work Homes Opportunity Title is generated by Realmo AI

    3291 NW 7th Street, Redmond, OR 97756

    View on Map
    Claim this Listing
    For Sale
    $675,000

    LAND - Redmond, OR

    Lot size:
    0.06 Acres
    Added:
    Jan 12, 2026
    Days on Market:
    129
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 3291 NW 7th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    292508
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Gary Everett

    Listing agent Gary Everett License #850200089

    Listing office RE/MAX Key Properties 42 NW Greenwood Ave., Bend, OR

    Listing date Jan 12, 2026

    MLS# 220213630 Listing URL

    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.

    HighLights

    • Shovel‑ready, level building sites for 5 live/work homes.
    • Each lot allows for a 3‑bedroom residence, 1‑bedroom ADU, and office space.
    • Located in a brand new neighborhood with a park in North Redmond.
    • Rear alley access and extra parking available.
    • All utilities are stubbed to each parcel.
    • Close to good schools.

    Overview

    This property presents a shovel-ready opportunity to construct five live/work homes on adjoining lots within a new neighborhood in North Redmond. The location benefits from rear alley access and proximity to a park. Each potential home design incorporates a three-bedroom residence with a great room, two bathrooms, and a garage, along with a one-bedroom apartment (ADU) with a garage, and a small office with a half bath. This allows for the option to work from home or rent all three units. The buyer can utilize the existing floor plans and elevations or develop their own designs. Extra parking is available across the alley. All utilities are stubbed to each parcel. The property is subject to CC&Rs and a minor HOA. It is located near good schools. The lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.1753682
    Latitude
    44.3014453

    Nearby Similar for Sale

    • $360,000
      816 SF

      Redmond Office in Prime Location

      Charming 816 SF office space in the heart of Redmond.
      654 NW 4th Street, Redmond, OR 97756
      View Details
    • $830,000
      1,606 SF

      Modern Redmond Office Building For Sale

      Turnkey 2019 office building with functional layout and professional setting.
      544 SW 4th Street, Redmond, OR 97756
      View Details
    • $589,000
      1,080 SF

      Redmond Commercial Asset For Sale

      Commercial property in downtown Redmond with strong visibility and easy access.
      725 SW 8th Street, Redmond, OR 97756
      View Details
    • $425,000

      Redmond Mixed-Use Development Opportunity

      0.50 acre lot zoned for mixed-use in NW Redmond.
      NW Elm Avenue, Redmond, OR 97756
      View Details
    • $425,000

      Redmond Mixed-Use Development Opportunity

      Half-acre lot zoned for mixed-use development in Redmond, Oregon.
      30 NW Elm Avenue, Redmond, OR 97756
      View Details
    • $575,000
      1,638 SF

      Redmond Duplex with Upgrade Potential

      Upgraded duplex on oversized lot with development potential in Redmond.
      2412 SW WICKIUP Ave, Redmond, OR 97756
      View Details
    • $1,199,000
      4,848 SF

      Well-Maintained Redmond Fourplex Opportunity

      Fourplex in quiet neighborhood, close to amenities and well-maintained.
      2531 NW CEDAR Ave, Redmond, OR 97756
      View Details
    • $225,000

      Established Flower Shop in Redmond

      Profitable flower shop with loyal clientele and delivery routes.
      251 SW 6th Street, Redmond, OR 97756
      View Details
    • $215,000

      Eagle Crest Resort Homesite

      Level homesite in Eagle Crest Resort, ready for building.
      830 Willet Lane, Redmond, OR 97756
      View Details
    • $395,000

      Eagle Crest Resort Homesite

      Premier homesite with Cascade Range views in Eagle Crest Resort.
      1261 Trail Creek Drive, Redmond, OR 97756
      View Details
    • $1,449,000
      7,500 SF

      Iconic Mixed-Use Building in Redmond

      Historic Redmond building with retail, office, and apartment units.
      615 SW Evergreen Avenue, Redmond, OR 97756
      View Details
    • $900,000
      3,168 SF

      Redmond Live-Work Unit on Highway

      Live-work property with highway frontage in Redmond, Oregon.
      3625 N Hwy 97, Redmond, OR 97756
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Shovel-ready land for five live/work homes in Redmond, Oregon.
    Where is this residential land & home lot located?
    The property is located at 3291 NW 7th Street Redmond, OR.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Shovel‑ready, level building sites for 5 live/work homes.; Each lot allows for a **3‑bedroom residence, 1‑bedroom ADU, and office space.**; Located in a brand new neighborhood with a park in North Redmond.
    (541) 480-6130
    We can help!
    Listing Contact
    Gary Everett
    Real Estate License ID: 850200089
    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
    3291 NW 7th Street, Redmond, OR 97756
    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!