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    The Largest CRE Database in the US with Over 1 Million Listings

    66505 Gerking Market Rd Bend, OR 97703

    Sponsored
    For Sale
    $5,545,000

    Northwest,Ranch, Farm - Bend, OR

    Type:Farm
    Property size:
    3,034 SF
    Lot size:
    35.21 Acres
    Days on Market:
    166
    Last Refresh:
    Jan 26 at 11:06 pm

    Property Features for 66505 Gerking Market Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    EFU
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bonus Room, Dining Room, Family Room, Great Room, Kitchen, Laundry, Living Room, Loft, Media Room, Office
    Bedrooms
    5
    Bathrooms
    5
    APN
    131383
    Parking features
    Driveway, Garage, RV
    Interior features
    Breakfast Bar, Built-in Features, Ceiling Fan(s), Double Vanity, Granite Counters, Kitchen Island, Linen Closet, Pantry, Primary Downstairs, Shower/Tub Combo, Soaking Tub, Solid Surface Counters, Stone Counters, Tile Shower, Vaulted Ceiling(s), Walk-In Closet(s), Wet Bar
    Exterior features
    Built-in Barbecue, Outdoor Kitchen, RV Dump, RV Hookup
    Appliances
    Cooktop, Dishwasher, Dryer, Garbage Disposer, Microwave, Oven - Double, Refrigerator, Washer, Water - Instant Hot
    Size
    3,034 SF
    Lot size
    35.21 Acres

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating), Propane (Heating)
    Cooling system
    Central Air, Heat Pump, Zoned
    Water front features
    Pond

    Building Details

    Year built
    1973
    Floors in Building
    2
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Frame
    Roof type
    Composition, Metal
    Architectural style
    Ranch
    Additional Structures
    Outdoor Kitchen

    We can help!

    Listing Contact
    Alexander P Robertson
    Alexander P Robertson

    Fay Ranches (541) 419-0770

    Listing agent Alexander P Robertson (800) 238-8616 License #201218114

    Listing date Aug 14, 2025

    MLS# 220207668 Listing URL

    Copyright © 2026 MLS of Central Oregon. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Oregon Horseman's Dream Estate

    This 35.21+/- acre estate, a horseman's dream in Central Oregon, features 18.6+/- acres of water rights and borders Bureau of Land Management (BLM) land in Tumalo, one of Oregon's most desirable rural areas. The property includes a luxurious 3,000+/- square foot home with 5 bedrooms and 5 bathrooms, including 3 suites, along with luxury finishes, a covered outdoor patio, and a 4-car garage. A recently constructed (2021) 1,862+/- square foot hobby building offers multiple rooms suitable for offices, two bathrooms, and a fully covered and screened outdoor kitchen. Both the home and hobby building have been recently built or remodeled. Equestrian facilities include a recently built (2021) indoor arena with 8 stalls with runs, a washstall, tack room, feed room, multiple hay storage areas, an automatic watering system for the arena, and heated/automatic waterers. Additional features include a trail course, Priefert hot walker, outdoor roping arena, custom pipe fencing, automatic waterers, a round pen, and a small feedlot for cattle. The property is zoned EFU.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Furniture Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.345697
    Latitude
    44.212338

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    FAQs

    What type of property is this?
    Horse & equestrian property - 35.21 acre estate with water rights and equestrian facilities.
    Where is this horse & equestrian property located?
    The property is located at 66505 Gerking Market Rd Bend, OR.
    What is the asking price?
    The asking price for this property is $5,545,000.
    What are key features of this property?
    This property features: - 35.21+/- acre estate with 18.6+/- acres of water rights backing up to BLM land in Tumalo.; - Extensive equestrian facilities: **indoor arena (built 2021) with 8 stalls**, washstall, tack/feed rooms, hot walker, roping arena, trail course, round pen, and automatic watering systems.; - **Luxurious 3,000+/- sq ft home featuring 5 bedrooms and 5 bathrooms (3 suites)** with luxury finishes and a 4-car garage.
    (800) 238-8616
    Request Owner's contact information
    66505 Gerking Market Rd Bend, OR 97703
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    Bend, OR 97703
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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.

    More about this property
    66505 Gerking Market Rd Bend, OR 97703
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    We can help!
    Listing Contact
    Alexander P Robertson
    Alexander P Robertson
    Real Estate License ID: 201218114
    (800) 238-8616
    Learn more
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