Flex Space Building with Three
For Sale
$3,250,000
Pending
19885 7th Street, Bend, OR 97703
Commercial Sale, Bend, OR
Property Size9,383 SF
Lot Size0.46 Acres
Days on Market869
Property Features for 19885 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
TUC, LM, SMIA
Parking features
Parking Lot, Driveway, On Street, Carport
Security features
Security System
Window features
Skylight(s), Double Pane Windows, Aluminum Frames
Patio and Porch features
Deck, Patio
Interior features
Built-in Features, Granite Counters, Smart Lighting, Solid Surface Counters, Vaulted Ceiling(s), Wired for Data
Exterior features
Courtyard, Fire Pit
Subdivision
Townsite Of Laidlaw
Lot features
Corner Lot, Drip System, Fenced, Landscaped, Level, Smart Irrigation, Sprinkler Timer(s), Sprinklers In Front
Directions
Located off Cook Ave downtown Tumalo
Standard status
Pending
APN
133534
Size
9,383 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
21438
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating), Forced Air, Propane (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2022
Floors in Building
2
Number of units
3
Flooring type
Concrete, Hardwood
Building materials
Frame
Roof type
Composition
Listing Agency:
RE/MAX Key Properties · RE/MAX International
(541) 728-0033
Listed By:
A'Leah Dee Knight · License #201224343
(541) 728-0033
Added: Apr 4, 2024
Changed: Aug 19
Last Checked: Aug 20 at 7:06AM
MLS# 220179846
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
19885 7th Street, Bend, OR is a 2022-built flex space building on a 0.46-acre lot with a 9,383-square-foot interior. The property has been approved and currently used for retail, office, and manufacturing-related uses, and it is set up to be divided into three suites, each with separate HVAC and electrical.
Externally, the building features a rock exterior with copper roof accents and gutters, presidential shingles, and raw metal siding. The exterior design is supported by interior finishes including smart lighting, wired-for-data, granite and solid surface counters, hardwood and concrete flooring, and vaulted ceilings. There are 70+ commercial storefront doors, windows, and skylights, along with a courtyard, fire pit, patio, and deck. A tunnel connects the spaces and includes a 1,300-square-foot reception area, plus a parking lot.
Suite 100 includes 1,190 square feet of retail, a 160-square-foot back stock area, and two bathrooms, with a custom bar and fireplace. Suite 200 provides a large common area with two bathrooms, four offices, and a 1,100-square-foot conference room. Suite 300 includes a kitchen, bathroom, and office. The property is served by public water and currently uses a septic tank, with a sewer system in the works referenced in the remarks.
Externally, the building features a rock exterior with copper roof accents and gutters, presidential shingles, and raw metal siding. The exterior design is supported by interior finishes including smart lighting, wired-for-data, granite and solid surface counters, hardwood and concrete flooring, and vaulted ceilings. There are 70+ commercial storefront doors, windows, and skylights, along with a courtyard, fire pit, patio, and deck. A tunnel connects the spaces and includes a 1,300-square-foot reception area, plus a parking lot.
Suite 100 includes 1,190 square feet of retail, a 160-square-foot back stock area, and two bathrooms, with a custom bar and fireplace. Suite 200 provides a large common area with two bathrooms, four offices, and a 1,100-square-foot conference room. Suite 300 includes a kitchen, bathroom, and office. The property is served by public water and currently uses a septic tank, with a sewer system in the works referenced in the remarks.
Key Highlights
- 0.46‑acre flex space building with 9,383 SF built in 2022
- Set up as three suites with separate HVAC and electrical
- 70+ commercial storefront doors, windows, and skylights
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
$226,048
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
6.96%
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%
$4,520,960
$4.5M
Cap Rate 7%
$3,229,257
$3.2M
Cap Rate 9%
$2,511,644
$2.5M
Market Conditions
NOI Build-Up for 9,383 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
$337.8K $36.00/SF
− Vacancy
−$14.9K −$1.58/SF
EGI
$322.9K $34.42/SF
− OpEx
−$96.9K −$10.32/SF
NOI
$226.0K $24.09/SF
Area
Bend, OR
Vacancy
4.40%
Lease Rate
$36.00 /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%
$4,520,960
Cap Rate 7%
$3,229,257
Cap Rate 9%
$2,511,644
Alternative Uses
Best Use
Retail
$3.23M
$2.83M – $3.77M
NOI $226,048 @ 7.0% cap · market cap 6.96%
Second Best
Flex RnD
$1.83M
$1.60M – $2.13M
NOI $127,785 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$4.05M
$3.55M – $4.73M
NOI $283,742 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Well-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - 2022 flex space building approved for multiple uses and set up as three suites with separate HVAC and electrical.
Where is this flex space located?
The property is located at 19885 7th Street Bend, OR.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 0.46‑acre flex space building with 9,383 SF built in 2022; Set up as three suites with separate HVAC and electrical; 70+ commercial storefront doors, windows, and skylights
