Multi-Use Property with Secure
For Sale
Contact for pricing
147 SE Evergreen Ave, Redmond, OR 97756
Centrally located multi-use property with fenced yard and Parkway access.
Property Size2,766 SF
Price / SF$215.11
Days on Market177
Property Features for 147 SE Evergreen Ave
General Information
Standard status
Active
Size
2,766 SF
Total Parking Spaces
12
Property subtype
Retail, Industrial, Mixed Use
Zoning
MUN
Building Details
Year Built
1942
Stories
1
Listing Agency:
Obsidian Real Estate Group
(541) 280-6697
Listed By:
Brian Intlekofer · License #OR 200411072
Source:
Crexi
Added: Feb 14
Changed: Aug 8
Last Checked: Aug 9 at 6:00AM
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 Obsidian Real Estate Group
Investment Insights
Based on property information with market context.
This 2766 square foot multi-use property is centrally located with direct access to the Parkway. It features office, industrial, and showroom space, along with a fully fenced secure yard. The zoning allows for unlimited options for potential uses of the property.
Key Highlights
- 2766 sq ft Multi‑use Property
- Centrally Located with Direct Parkway Access
- Office/Industrial/Showroom Space available
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
$39,721
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
6.68%
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%
$794,420
$794.4K
Cap Rate 7%
$567,443
$567.4K
Cap Rate 9%
$441,344
$441.3K
Market Conditions
NOI Build-Up for 2,766 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
$56.4K $20.40/SF
− Vacancy
−$3.5K −$1.25/SF
EGI
$53.0K $19.15/SF
− OpEx
−$13.2K −$4.79/SF
NOI
$39.7K $14.36/SF
Area
Deschutes County, OR
Vacancy
6.14%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$794,420
Cap Rate 7%
$567,443
Cap Rate 9%
$441,344
Alternative Uses
Best Use
Retail
$951.9K
$833.0K – $1.11M
NOI $66,636 @ 7.0% cap · market cap 11.20%
Second Best
Office B
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 6.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Centrally located multi-use property with fenced yard and Parkway access.
Where is this mixed-use property located?
The property is located at 147 SE Evergreen Ave Redmond, OR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2766 sq ft Multi‑use Property; Centrally Located with Direct Parkway Access; Office/Industrial/Showroom Space available
