Retail Space For
For Sale
$725,000
204 NE 4th Street, Bend, OR 97701
Retail space available for purchase.
Property Size1,482 SF
Price / SF$489.20
Days on Market194
Property Features for 204 NE 4th Street
General Information
Standard status
Active
Size
1,482 SF
Property subtype
Commercial
Zoning
RH
Taxes and HOA fees
Annual Taxes
$3,709
Building Details
Building Size
1,482 SF
Year Built
1940
Stories
1
Units
1
Listing Agency:
Compass Commercial Real Estate
(541) 383-2444
Listed By:
Graham Dent · License #5414106519
Source:
Allprofessionalsre
Added: Feb 10
Changed: Aug 23
Last Checked: Aug 22 at 4:35PM
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.
This commercial real estate property, identified as a retail space, is available for sale. The property offers a total size of 1482 square feet.
Key Highlights
- For sale
- Year built: 1940
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
$35,703
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
4.92%
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%
$714,060
$714.1K
Cap Rate 7%
$510,043
$510.0K
Cap Rate 9%
$396,700
$396.7K
Market Conditions
NOI Build-Up for 1,482 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
$53.4K $36.00/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$51.0K $34.42/SF
− OpEx
−$15.3K −$10.32/SF
NOI
$35.7K $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%
$714,060
Cap Rate 7%
$510,043
Cap Rate 9%
$396,700
Alternative Uses
Best Use
Retail
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,428
Businesses Nearby
127k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 30%
Dining 24%
Hotels & Casinos 4%
Safeway
Groceries
37,342 visits/mo
0.3 miles
Five Guys
Dining
13,966 visits/mo
0.3 miles
Bi-Mart
Shops & Services
12,269 visits/mo
0.3 miles
7-Eleven
Shops & Services
11,549 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
7,441 visits/mo
0.3 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase.
Where is this retail space located?
The property is located at 204 NE 4th Street Bend, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: For sale; Year built: 1940
