Two-Building Industrial
2185 NE 2nd Street Bend, OR 97701
2185 NE 2nd Street, Bend, OR, 97701
Contact for pricing
For Sale
Contact for pricing
Stabilized industrial property with two fully leased buildings and multiple roll-up doors for flexible warehouse and fitness use.
Property Size11,168 SF
Lot Size0.66 Acres
Price / SF$237.29
Days on Market91
Property Features for 2185 NE 2nd Street
General Information
- Standard status
- Active
- Size
- 11,168 SF
- Lot size
- 0.66 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 2000
Listing agency
Compass Commercial Real Estate Services
(541) 410-6519
Listed by
Peter May · License #OR 200606373
Source
Crexi
Added: Apr 24 Updated: Jul 23 at 3:52AM Checked: Jul 23 at 3:52AM
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.
2185 NE 2nd Street is a stabilized, two-building industrial investment totaling 11,168 square feet on 0.66 acres in Bend’s Mixed Employment (ME) zone. The property is fully leased to two tenants, with Building 1 devoted to a fitness facility and Building 2 primarily configured as warehouse space.
Building 1 consists of 5,000 square feet across Suites A/B and is occupied by Gym X. It includes a basketball court and open training areas, along with two 12' roll-up doors, one dock-high loading platform, 3-phase 200-amp power, two Reznor heaters, two offices, and two restrooms. Building 2 includes 6,168 square feet in Suite C and is occupied by German Transaxle, featuring a 14' grade-level roll-up door and 3-phase 200-amp power. The layout includes two upstairs offices, one downstairs office, and two restrooms.
The leases expire in October 2027 and April 2030, respectively, and each tenant has one five-year renewal option, supporting a staggered income schedule.
Building 1 consists of 5,000 square feet across Suites A/B and is occupied by Gym X. It includes a basketball court and open training areas, along with two 12' roll-up doors, one dock-high loading platform, 3-phase 200-amp power, two Reznor heaters, two offices, and two restrooms. Building 2 includes 6,168 square feet in Suite C and is occupied by German Transaxle, featuring a 14' grade-level roll-up door and 3-phase 200-amp power. The layout includes two upstairs offices, one downstairs office, and two restrooms.
The leases expire in October 2027 and April 2030, respectively, and each tenant has one five-year renewal option, supporting a staggered income schedule.
Key Highlights
- Stabilized two‑building industrial investment totaling 11,168 SF on 0.66 acres in Bend’s Mixed Employment (ME) zone.
- Fully leased to two tenants (Gym X and German Transaxle) with in‑place annual NOI of $151,871 and a 5.73% cap rate.
- Building 1: 5,000 SF fitness facility with basketball court and open training areas; includes two 12' roll‑up doors and 3‑phase 200‑amp power.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.4k | $13.56 |
| − Vacancy | −$4.1k | −$0.37 |
| EGI | $147.3k | $13.19 |
| − OpEx | −$22.1k | −$1.98 |
| NOI | $125.2k | $11.21 |
11,168 SF · lease $13.56/SF/yr · vacancy 2.71% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,234 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.82M
$4.22M – $5.63M
NOI $337,720 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Point Blank Distributing
Warehouse & Storage
German Transaxle of America
Auto Repair Shop
Sproul & Sproul Inc
Insurance Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Bootcamp Bend — 1279 NE 2nd St, Bend, OR 97701
- Bend Hoops — 1307 NE 1st St, Bend, OR 97701
- NPJ Sports Zone — 1307 NE 1st St, Bend, OR 97701
- Bend Life Acupuncture and Integrated Medicine — 1291 NW Wall St, Bend, OR 97701
- Outside Movement Physical Therapy — 345 SW Cyber Dr Suite 104, Bend, OR 97702
FAQs
What type of property is this?
Fitness center & gym - Stabilized industrial property with two fully leased buildings and multiple roll-up doors for flexible warehouse and fitness use.
Where is this fitness center & gym located?
The property is located at 2185 NE 2nd Street Bend, OR.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Stabilized two‑building industrial investment totaling 11,168 SF on 0.66 acres in Bend’s Mixed Employment (ME) zone.; Fully leased to two tenants (Gym X and German Transaxle) with in‑place annual NOI of $151,871 and a 5.73% cap rate.; Building 1: 5,000 SF fitness facility with basketball court and open training areas; includes two 12' roll‑up doors and 3‑phase 200‑amp power.
