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    Downtown Bend Landmark with Restaurants Title is generated by Realmo AI

    1033 NW Bond St, Bend, OR 97703

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    For Sale
    $6,500,000

    Historic building with popular restaurants and future albergo expansion.

    Type:Hospitality
    Added:
    Feb 26, 2026
    Days on Market:
    100
    Last Refresh:
    Feb 26 at 10:30 pm

    Property Features for 1033 NW Bond St

    General Information

    Standard status
    Active
    Property subtype
    Hospitality

    Building Details

    Year Built
    1917

    We can help!

    Listing Contact
    Walt Ramage
    Walt Ramage

    Listing agent Walt Ramage License #OR #200602408

    Listing office NAI Cascade Commercial Real Estate Services, Worldwide

    Listing date Feb 26, 2026

    Source Naiglobal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Cascade Commercial Real Estate Services, Worldwide

    HighLights

    • Prime downtown location on NW Bond Street, across from Deschutes Brewery, with high visibility and pedestrian traffic.
    • Anchored by two popular restaurants: Ken's Artisan Pizza (ranked among the top pizza restaurants worldwide) and Americana Burger.
    • Newly renovated, high‑end, European‑styled albergo on the second story with potential for future expansion.
    • Ample parking options including on‑site parking, the Diamond Lot, and city parking lots nearby; no additional parking required by the City of Bend.
    • Complete restoration finalized in 2025 with upgraded HVAC, new plumbing and electrical systems, structural improvements, and commercial kitchens.
    • Confirmed historical lodging and restaurant use entitlements in place; no additional land use approvals required.

    Overview

    This premier historical landmark in downtown Bend, located on NW Bond Street, has been thoughtfully restored and is anchored by two popular dining destinations: Ken’s Artisan Pizza and Americana. Ken’s Artisan Pizza is ranked among the top pizza restaurants worldwide, while Americana Burger is known for its menu featuring an elevated take on fast casual with smash burgers and smothered fries. These restaurants drive consistent local and tourist traffic year-round. The second story will be occupied by a newly renovated, niche, high-end, European-styled albergo. Excess land in the rear allows for future albergo expansion. On-site parking is available, along with the Diamond Lot next door, a city parking garage one block away, and a city lot adjacent to the rear of the building. No additional parking is required by the City of Bend. Confirmed historical lodging and restaurant use entitlements are in place, and no additional land use approvals are required. A Phase I Environmental was completed in September 2022. The complete restoration was finalized in 2025 with upgraded HVAC, new plumbing and electrical systems, structural improvements, and commercial kitchens including a Type I hood and fire suppression. Original 17’ ceilings with 24” crown molding remain intact, preserving the building’s historic charm. The site has high visibility and excellent pedestrian traffic, directly across from Deschutes Brewery.
    Location Intelligence

    Current Use by Public Records

    Bend Comedy Nightclub Paul Hackett Construction Construction Company

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Hair Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.3120763
    Latitude
    44.0596715

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    FAQs

    What type of property is this?
    Hospitality property - Historic building with popular restaurants and future albergo expansion.
    Where is this hospitality property located?
    The property is located at 1033 NW Bond St Bend, OR.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Prime downtown location on NW Bond Street, across from Deschutes Brewery, with high visibility and pedestrian traffic.; Anchored by two popular restaurants: Ken's Artisan Pizza (ranked among the top pizza restaurants worldwide) and Americana Burger.; **Newly renovated, high‑end, European‑styled albergo on the second story with potential for future expansion.**
    (541) 771-8260
    We can help!
    Listing Contact
    Walt Ramage
    Walt Ramage
    Real Estate License ID: OR #200602408
    Learn More
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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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    1033 NW Bond St | Bend, OR 97703
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