Upgraded Retail
For Sale
$650,000
734 NE Greenwood Avenue, Bend, OR 97701
Commercial Sale, Bend, OR
Property Size1,201 SF
Lot Size0.18 Acres
Price / SF$541.22
Days on Market157
Property Features for 734 NE Greenwood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Interior features
Laminate Counters
Lot features
Level
Standard status
Active
APN
105426
Size
1,201 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4687
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Concrete
Roof type
Membrane
Listing Agency:
Keller Williams Realty Central Oregon
(541) 585-3760
Listed By:
Wendolyn Cooper · License #200508361
(541) 350-9020
Added: Apr 3
Changed: Aug 19
Last Checked: Sep 6 at 6:06AM
MLS# 220218564
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 1,201-square-foot retail building occupies a 0.18-acre parcel and has operated as a laundromat for decades. The property includes concrete construction and flooring, laminate counters, ductless heating and cooling, a membrane roof, and upgraded building and equipment components. A parking lot serves the site, while public water and public sewer are available.
Located at 734 NE Greenwood Avenue in Bend, the property is positioned on a main street with frontage and accessibility identified as notable site characteristics. The asset is within an Opportunity Zone and is offered as part of a portfolio sale. The laundromat business may be acquired separately, allowing the real estate and operating business to be considered independently.
Located at 734 NE Greenwood Avenue in Bend, the property is positioned on a main street with frontage and accessibility identified as notable site characteristics. The asset is within an Opportunity Zone and is offered as part of a portfolio sale. The laundromat business may be acquired separately, allowing the real estate and operating business to be considered independently.
Key Highlights
- 1,201‑square‑foot retail building on a 0.18‑acre parcel
- Established laundromat operation serving the community for decades
- Building and equipment have been upgraded
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
$28,934
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
4.45%
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%
$578,680
$578.7K
Cap Rate 7%
$413,343
$413.3K
Cap Rate 9%
$321,489
$321.5K
Market Conditions
NOI Build-Up for 1,201 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
$43.2K $36.00/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$41.3K $34.42/SF
− OpEx
−$12.4K −$10.32/SF
NOI
$28.9K $24.09/SF
Area
Bend, OR
Vacancy
4.40%
Lease Rate
$36.00 /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%
$578,680
Cap Rate 7%
$413,343
Cap Rate 9%
$321,489
Alternative Uses
Best Use
Retail
$413.3K
$361.7K – $482.2K
NOI $28,934 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$518.8K
$454.0K – $605.3K
NOI $36,318 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
156k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 31%
Groceries 24%
Hotels & Casinos 3%
Safeway
Groceries
37,342 visits/mo
0.4 miles
Taco Bell
Dining
21,365 visits/mo
0.5 miles
ARCO
Shops & Services
20,630 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
12,194 visits/mo
0.5 miles
7-Eleven
Shops & Services
10,066 visits/mo
0.0 miles
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Established laundromat property with upgraded improvements, public utilities, parking, and flexible repositioning potential.
Where is this retail space located?
The property is located at 734 NE Greenwood Avenue Bend, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,201‑square‑foot retail building on a 0.18‑acre parcel; Established laundromat operation serving the community for decades; Building and equipment have been upgraded
