Bend Industrial Buildings For
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20676 & 20680 Carmen Loop, Bend, OR 97702
Two industrial buildings totaling 25,690 SF on 1.32 acres.
Property Size25,690 SF
Lot Size1.32 Acres
Price / SF$250
Days on Market219
Property Features for 20676 & 20680 Carmen Loop
General Information
Standard status
Active
Size
25,690 SF
Lot size
1.32 Acres
Property subtype
Industrial
Zoning
Light Industrial (IL)
Investment Type
Owner/User
Building Details
Year Built
2005
Buildings
2
Tenancy
Single
Listing Agency:
Compass Commercial Real Estate Services
(541) 410-6519
Listed By:
Jay Lyons · License #OR 5414106519
Source:
Crexi
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 12 at 3:49AM
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 Services
Investment Insights
Based on property information with market context.
The property features two standalone industrial buildings situated on separate tax lots, totaling approximately 1.32 acres within Bend’s American Loop Industrial Park. The combined area of the buildings is 25,690 square feet, offering functional space equipped with upgraded power and multiple grade-level roll-up doors. Secure, fenced yard areas and flexible warehouse configurations are suitable for light industrial, manufacturing, fabrication, or service-oriented businesses. Both buildings are leased through June 30, 2026. The location provides convenient access to SE Reed Market Road, a primary east-west corridor in Bend, offering connectivity to U.S. 97, the Bend Airport, and other eastside industrial areas. The two-building configuration allows for operational separation between office, warehouse, and production functions. A secured perimeter and ample yard space can accommodate equipment, fleet parking, and outside storage. The site is suitable for an owner-user seeking long-term control of a unified industrial campus in a centrally located Bend submarket.
Key Highlights
- Two standalone industrial buildings totaling 25,690 SF on ±1.32 acres.
- Leased through June 30, 2026, providing short‑term income.
- Excellent connectivity to major transportation routes (SE Reed Market Road, U.S. 97, Bend Airport).
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
$349,867
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
5.45%
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%
$6,997,340
$7.0M
Cap Rate 7%
$4,998,100
$5.0M
Cap Rate 9%
$3,887,411
$3.9M
Market Conditions
NOI Build-Up for 25,690 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
$554.9K $21.60/SF
− Vacancy
−$16.6K −$0.65/SF
EGI
$538.3K $20.95/SF
− OpEx
−$188.4K −$7.33/SF
NOI
$349.9K $13.62/SF
Area
Bend, OR
Vacancy
3.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$6,997,340
Cap Rate 7%
$4,998,100
Cap Rate 9%
$3,887,411
Alternative Uses
Best Use
Flex RnD
$5.00M
$4.37M – $5.83M
NOI $349,867 @ 7.0% cap · market cap 5.45%
Second Best
Warehouse
$4.12M
$3.60M – $4.80M
NOI $288,079 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$11.10M
$9.71M – $12.95M
NOI $776,866 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97702, OR
51,161
Population
23,318
Households
2.2
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
103.5 sq mi
ZIP Area
494
Density / Sq Mi
$89,094
Median Household Income
$47,743
Median Earnings
$1,825
Median Rent
$620,600
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 - Two industrial buildings totaling 25,690 SF on 1.32 acres.
Where is this flex space located?
The property is located at 20676 & 20680 Carmen Loop Bend, OR.
What is the asking price?
The asking price for this property is $6,422,500.
What are key features of this property?
This property features: Two standalone industrial buildings totaling 25,690 SF on ±1.32 acres.; Leased through June 30, 2026, providing short‑term income.; Excellent connectivity to major transportation routes (SE Reed Market Road, U.S. 97, Bend Airport).
