Multi-Tenant Industrial Warehouse
For Sale
$2,550,000
1560 Ne 1st St, Bend, OR 97701
Fully leased industrial property with 14 small-bay suites totaling about 17,640 sq ft.
Property Size17,640 SF
Price / SF$144.56
Days on Market37
Property Features for 1560 Ne 1st St
General Information
Standard status
Active
Size
17,640 SF
Occupancy
100%
Additional Details
Cap Rate
6.56%
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,497
Building Details
Tenancy
Multi
Listing Agency:
Compass Commercial Real Estate
(541) 848-4053
Listed By:
Robert A Raimondi · License #200904013
(541) 848-4053
Source:
Exprealty
Added: Jul 19
Changed: Aug 24
Last Checked: Aug 21 at 11:19AM
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 Compass Commercial Real Estate
Investment Insights
Based on property information with market context.
1560 NE 1st Street is a multi-tenant industrial warehouse offering 14 industrial suites totaling approximately 17,640 square feet. The building’s small-bay configuration includes eight 1,200-square-foot units and six 1,340-square-foot units, supporting a diverse tenant roster. The property is fully leased and currently generates $18,373 in gross monthly rental income, with a stated history of very low vacancy.
Located in Bend’s established Midtown commercial district, the property is positioned just east of the Bend Parkway and west of Business Highway 97. It also provides convenient north–south access through the city and is positioned near key east–west routes, including NE Greenwood Avenue/Highway 20.
For buyers seeking an in-place, leased industrial asset, this property’s suite mix and operational configuration are designed to serve multiple occupancies while maintaining stable occupancy performance.
Located in Bend’s established Midtown commercial district, the property is positioned just east of the Bend Parkway and west of Business Highway 97. It also provides convenient north–south access through the city and is positioned near key east–west routes, including NE Greenwood Avenue/Highway 20.
For buyers seeking an in-place, leased industrial asset, this property’s suite mix and operational configuration are designed to serve multiple occupancies while maintaining stable occupancy performance.
Key Highlights
- Fully leased industrial property with 14 industrial suites totaling about 17,640 sq ft (built 1974)
- Small‑bay unit mix: eight 1,200‑sq‑ft units and six 1,340‑sq‑ft units
- Generates $18,373 in gross monthly rental income
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
$197,809
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
7.76%
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%
$3,956,180
$4.0M
Cap Rate 7%
$2,825,843
$2.8M
Cap Rate 9%
$2,197,878
$2.2M
Market Conditions
NOI Build-Up for 17,640 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
$239.2K $13.56/SF
− Vacancy
−$6.5K −$0.37/SF
EGI
$232.7K $13.19/SF
− OpEx
−$34.9K −$1.98/SF
NOI
$197.8K $11.21/SF
Area
Bend, OR
Vacancy
2.71%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$3,956,180
Cap Rate 7%
$2,825,843
Cap Rate 9%
$2,197,878
Alternative Uses
Best Use
Warehouse
$2.83M
$2.47M – $3.30M
NOI $197,809 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.62M
$6.67M – $8.89M
NOI $533,434 @ 7.0% cap · market cap 20.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,886
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
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
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- Stor-It At the Hut — 1145 NE 1st St, Bend, OR 97701
- Aeries Mini-Storage — 1258 NE 2nd St, Bend, OR 97701
Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased industrial property with 14 small-bay suites totaling about 17,640 sq ft.
Where is this warehouse located?
The property is located at 1560 Ne 1st St Bend, OR.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Fully leased industrial property with 14 industrial suites totaling about 17,640 sq ft (built 1974); Small‑bay unit mix: eight 1,200‑sq‑ft units and six 1,340‑sq‑ft units; Generates $18,373 in gross monthly rental income
