Flex and Light Industrial
For Sale
Contact for pricing
1177 Southeast 9th Street, Bend, OR 97702
Flex and industrial building with heavy electrical capacity and existing brewery/food production approved use.
Property Size10,500 SF
Price / SF$280.95
Days on Market98
Property Features for 1177 Southeast 9th Street
General Information
Standard status
Active
Size
10,500 SF
Property subtype
Retail, Office, Industrial
Zoning
IL
Additional Details
Highway Access
Yes
Heavy Power
Yes
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Fratzke Commercial Real Estate
Listed By:
Brian Fratzke · License #OR 200402169
(541) 306-4948
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Sep 8 at 4:34AM
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 Fratzke Commercial Real Estate
Investment Insights
Based on property information with market context.
This owner-user flex and light industrial building is suited for industrial, warehouse, manufacturing, or flex operations. The property supports a flexible single- or multi-tenant configuration and includes LED lighting and modern telecommunications infrastructure. A key improvement is 800-amp 3-phase power, designed to accommodate a range of industrial equipment needs.
Convenient access to Highway 97 supports day-to-day logistics and customer access. The property is positioned to support business activity requiring straightforward regional connectivity.
The building also includes an existing brewery/food production approved use, along with infrastructure for water and sewer. For tenants, buyers, or operators looking for a facility that can support light production and warehousing in a configurable layout, the combination of available power, communications infrastructure, and approved food production framework provides a practical foundation to operate from day one.
Convenient access to Highway 97 supports day-to-day logistics and customer access. The property is positioned to support business activity requiring straightforward regional connectivity.
The building also includes an existing brewery/food production approved use, along with infrastructure for water and sewer. For tenants, buyers, or operators looking for a facility that can support light production and warehousing in a configurable layout, the combination of available power, communications infrastructure, and approved food production framework provides a practical foundation to operate from day one.
Key Highlights
- Flex/industrial building built in 2005 at 1177 SE 9th Street, Bend, OR
- 800‑amp 3‑phase power for industrial, warehouse, manufacturing, or flex use
- Flexible single or multi‑tenant configuration
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
$142,997
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
4.85%
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%
$2,859,940
$2.9M
Cap Rate 7%
$2,042,814
$2.0M
Cap Rate 9%
$1,588,856
$1.6M
Market Conditions
NOI Build-Up for 10,500 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
$226.8K $21.60/SF
− Vacancy
−$6.8K −$0.65/SF
EGI
$220.0K $20.95/SF
− OpEx
−$77.0K −$7.33/SF
NOI
$143.0K $13.62/SF
Area
Bend, OR
Vacancy
3.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,859,940
Cap Rate 7%
$2,042,814
Cap Rate 9%
$1,588,856
Alternative Uses
Best Use
Flex RnD
$2.04M
$1.79M – $2.38M
NOI $142,997 @ 7.0% cap · market cap 4.85%
Second Best
Warehouse
$1.68M
$1.47M – $1.96M
NOI $117,743 @ 7.0% cap · market cap 3.99%
Theoretical Best
Specialty Retail
$4.54M
$3.97M – $5.29M
NOI $317,520 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Korean Food by All Elements — 1177 SE 9th St, Bend, OR 97702
Frequently Asked Questions
What type of property is this?
Flex space - Flex and industrial building with heavy electrical capacity and existing brewery/food production approved use.
Where is this flex space located?
The property is located at 1177 Southeast 9th Street Bend, OR.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Flex/industrial building built in 2005 at 1177 SE 9th Street, Bend, OR; 800‑amp 3‑phase power for industrial, warehouse, manufacturing, or flex use; Flexible single or multi‑tenant configuration
