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 Show Phone

Source: Crexi

Added: Feb 11, 2025 Changed: Oct 2 Last Checked: Oct 9 at 5:36PM

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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 / Yr

$559,192

Cap Rate

6.58%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $1,199,288 @ 7.0% cap · market cap 14.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Nosler Inc. Industrial Manufacturer Shooter's Pro Shop Gun Shop

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Fish Market Tanning Salon Electronics & Wireless Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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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.