Single-Story Office
23 NW Greenwood Avenue Bend, OR 97703
For Sale
$1,555,000
Single-story office building with reception, waiting area, 12 private offices, and rear parking.
Property Size4,100 SF
Price / SF$379.27
Days on Market52
Property Features for 23 NW Greenwood Avenue
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Commercial
Building Details
Year Built
1941
Listing Agency:
Berkshire Hathaway HomeService
(248) 935-4592
Listed By:
Raechelle A Boddy · License #201219703
(248) 935-4592
Source:
Allprofessionalsre
Added: Jun 9
Changed: Jul 26
Last Checked: Jul 29 at 12:39PM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
This single-story office building offers flexible interior configuration for professional or medical-related use, with 12 private offices, a reception area, a waiting area, and three bathrooms including one full bath. The layout includes four separate entrances, supported by ongoing maintenance and renovations completed in 2005, along with newer HVAC.
Set on one of Bend’s busiest corridors, the property benefits from high daily traffic on the Bend Parkway, with more than 53,000 vehicles passing daily, making it well suited for client-facing businesses. Rear parking and convenient accessibility support day-to-day operations for both clients and employees.
With approximately 4,100 SF, the building provides a practical combination of multiple entry points and room for continued use or multi-tenant flexibility, whether for an owner-user or a tenant-ready investment plan.
Set on one of Bend’s busiest corridors, the property benefits from high daily traffic on the Bend Parkway, with more than 53,000 vehicles passing daily, making it well suited for client-facing businesses. Rear parking and convenient accessibility support day-to-day operations for both clients and employees.
With approximately 4,100 SF, the building provides a practical combination of multiple entry points and room for continued use or multi-tenant flexibility, whether for an owner-user or a tenant-ready investment plan.
Key Highlights
- Single‑story office building built in 1941 with approx. 4,100 SF of space
- Interior layout includes reception, waiting area, and 12 private offices plus 3 bathrooms (including 1 full bath)
- Four separate entrances support multi‑tenant occupancy and possible medical conversion
Financial Insights For Healthcare Medical
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 | $108.2k | $26.40 |
| − Vacancy | −$5.4k | −$1.32 |
| EGI | $102.8k | $25.08 |
| − OpEx | −$41.1k | −$10.03 |
| NOI | $61.7k | $15.05 |
4,100 SF · lease $26.40/SF/yr · vacancy 5.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$881.4K
$771.2K – $1.03M
NOI $61,697 @ 7.0% cap · market cap 3.97%
Second Best
Office B
$841.1K
$736.0K – $981.3K
NOI $58,878 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $123,984 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Single-story office building with reception, waiting area, 12 private offices, and rear parking.
Where is this office building located?
The property is located at 23 NW Greenwood Avenue Bend, OR.
What is the asking price?
The asking price for this property is $1,555,000.
What are key features of this property?
This property features: Single‑story office building built in 1941 with approx. 4,100 SF of space; Interior layout includes reception, waiting area, and 12 private offices plus 3 bathrooms (including 1 full bath); Four separate entrances support multi‑tenant occupancy and possible medical conversion
