Central Oregon Craft Beverage
For Sale
Contact for pricing
19330 Pinehurst Rd, Bend, OR 97703
Turnkey distillery estate on 23+ acres near Bend, Oregon.
Property Size32,882 SF
Lot Size23.00 Acres
Price / SF$121.34
Days on Market477
Property Features for 19330 Pinehurst Rd
General Information
Standard status
Active
Size
32,882 SF
Lot size
23.00 Acres
Property subtype
Industrial, Mixed Use, Retail, Special Purpose
Zoning
EFUTRB, MUA10
Lease Type
NNN
Building Details
Year Built
1996
Buildings
6
Stories
2
Units
6
Tenancy
Single
Listing Agency:
NAI Cascade Commercial Real Estate Services, Worldwide
(541) 706-9370
Listed By:
Paul Evers · License #OR 201253613
Source:
Crexi
Added: Apr 23, 2025
Changed: Aug 8
Last Checked: Aug 11 at 9:00AM
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 NAI Cascade Commercial Real Estate Services, Worldwide
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a craft beverage production facility, the birthplace of Crater Lake Spirits and Ablis CBD beverages. Located approximately 10 minutes from Bend along Highway 20, the property includes six structures totaling nearly 33,000 square feet on over 23 acres, with 18 acres holding water rights. The property supports a farm-to-bottle ecosystem, including on-site cultivation, ingredient processing, bottling, aging, packaging, and a tasting room. The grounds also feature a community dog park. The property offers views of the Cascade Mountains. The facility is a turnkey operation. The total property size is 32,882 square feet.
Key Highlights
- Turnkey craft beverage operation with six purpose‑built structures totaling nearly 33,000 SF on 23+ acres.
- Includes 18 acres of valuable water rights, supporting a complete farm‑to‑bottle ecosystem.
- Birthplace of acclaimed Crater Lake Spirits and Ablis CBD beverages, offering an established legacy.
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
$303,658
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
7.61%
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%
$6,073,160
$6.1M
Cap Rate 7%
$4,337,971
$4.3M
Cap Rate 9%
$3,373,978
$3.4M
Market Conditions
NOI Build-Up for 32,882 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
$445.9K $13.56/SF
− Vacancy
−$12.1K −$0.37/SF
EGI
$433.8K $13.19/SF
− OpEx
−$130.1K −$3.96/SF
NOI
$303.7K $9.23/SF
Area
Bend, OR
Vacancy
2.71%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$6,073,160
Cap Rate 7%
$4,337,971
Cap Rate 9%
$3,373,978
Alternative Uses
Best Use
Industrial
$4.34M
$3.80M – $5.06M
NOI $303,658 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.21M
$12.43M – $16.57M
NOI $994,352 @ 7.0% cap · market cap 24.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
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.
Frequently Asked Questions
What type of property is this?
Specialty property - Turnkey distillery estate on 23+ acres near Bend, Oregon.
Where is this specialty property located?
The property is located at 19330 Pinehurst Rd Bend, OR.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Turnkey craft beverage operation with six purpose‑built structures totaling nearly 33,000 SF on 23+ acres.; Includes **18 acres of valuable water rights**, supporting a complete farm‑to‑bottle ecosystem.; Birthplace of acclaimed Crater Lake Spirits and Ablis CBD beverages, offering an established legacy.
