Westside Property with Development
For Sale
Contact for pricing
107 SW Columbia St, Bend, OR 97702
Westside property suitable for owner/user, investment, or development.
Property Size39,659 SF
Price / SF$214.20
Days on Market571
Property Features for 107 SW Columbia St
General Information
Standard status
Active
Size
39,659 SF
Property subtype
Industrial, Land, Mixed Use
Zoning
MU
Investment Type
Owner/User
Building Details
Year Built
1981
Year Renovated
1992
Buildings
1
Listing Agency:
NAI Cascade Commercial Real Estate Services, Worldwide
Listed By:
Walt Ramage · License #OR 20062408
(541) 706-9370
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 31
Last Checked: Sep 4 at 8:28PM
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
Investment Insights
Based on property information with market context.
This westside property presents multiple opportunities, making it ideal for an owner/user, a leased investment, or future development, with income in place during the planning and permitting process. The mixed-use zoning allows for maximum density with minimal to no setbacks and height allowances, offering panoramic mountain and city views. The property is well-located just off the Simpson Avenue and Columbia Street roundabout on Bend’s desirable westside, near Bend Whitewater Park, Century Drive, Old Mill, and Galveston Avenue. Excellent demographics enhance this property's exceptional appeal and development opportunity. The property to the south of the portfolio may be available for purchase. The property has a size of 39659 square feet.
Key Highlights
- Prime westside location near Bend Whitewater Park, Century Drive, Old Mill, and Galveston Ave.
- Mixed Use zoning allows for maximum density with minimal to no setbacks.
- Development opportunity with income in place during planning/permitting.
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
$559,192
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
6.58%
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%
$11,183,840
$11.2M
Cap Rate 7%
$7,988,457
$8.0M
Cap Rate 9%
$6,213,244
$6.2M
Market Conditions
NOI Build-Up for 39,659 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
$951.8K $24.00/SF
− Vacancy
−$57.1K −$1.44/SF
EGI
$894.7K $22.56/SF
− OpEx
−$335.5K −$8.46/SF
NOI
$559.2K $14.10/SF
Area
Bend, OR
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$11,183,840
Cap Rate 7%
$7,988,457
Cap Rate 9%
$6,213,244
Alternative Uses
Best Use
Mixed Use
$7.99M
$6.99M – $9.32M
NOI $559,192 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$17.13M
$14.99M – $19.99M
NOI $1,199,288 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,501
Businesses Nearby
Explore this area
Business Placement
Demographics for 97702, OR
51,161
Population
23,318
Households
2.2
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
103.5 sq mi
ZIP Area
494
Density / Sq Mi
$89,094
Median Household Income
$47,743
Median Earnings
$1,825
Median Rent
$620,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Westside property suitable for owner/user, investment, or development.
Where is this commercial land located?
The property is located at 107 SW Columbia St Bend, OR.
What is the asking price?
The asking price for this property is $8,495,000.
What are key features of this property?
This property features: Prime westside location near Bend Whitewater Park, Century Drive, Old Mill, and Galveston Ave.; Mixed Use zoning allows for maximum density with minimal to no setbacks.; Development opportunity with income in place during planning/permitting.
