Downtown Bend Landmark with
For Sale
$5,000,000
1033 NW Bond Street, Bend, OR 97703
Historic building with popular restaurants and future albergo expansion.
Property Size8,766 SF
Days on Market236
Property Features for 1033 NW Bond Street
General Information
Standard status
Active
Size
8,766 SF
Property subtype
Other
Building Details
Building Size
8,766 SF
Year Built
1917
Year Renovated
2025
Units
3
Listing Agency:
NAI Cascade
Listed By:
Walt Ramage · License #20062408
(541) 706-9370
Source:
Commercialcafe
Added: Feb 26
Changed: Oct 13
Last Checked: Oct 20 at 5:21PM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$265,084
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,301,680
$5.3M
Cap Rate 7%
$3,786,914
$3.8M
Cap Rate 9%
$2,945,378
$2.9M
Market Conditions
NOI Build-Up for 8,766 SF
Gross rent
$368.2K $42.00/SF
− Vacancy
−$14.7K −$1.68/SF
EGI
$353.4K $40.32/SF
− OpEx
−$88.4K −$10.08/SF
NOI
$265.1K $30.24/SF
Area
Bend, OR
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,301,680
Cap Rate 7%
$3,786,914
Cap Rate 9%
$2,945,378
Alternative Uses
Best Use
Specialty Retail
$3.79M
$3.31M – $4.42M
NOI $265,084 @ 7.0% cap · market cap 5.30%
Second Best
Hotel Hospitality
$910.1K
$796.3K – $1.06M
NOI $63,707 @ 7.0% cap · market cap 1.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,416
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 67%
Home Improvements & Furnishings 33%
Days Inn Bend
Hotels & Casinos
4,561 visits/mo
0.5 miles
Platt Electric Supply
Home Improvements & Furnishings
1,189 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
1,045 visits/mo
0.5 miles
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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 Street Bend, OR.
What is the asking price?
The asking price for this property is $5,000,000.
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.**
