Single-Story Office Building with Four
23 NW Greenwood Avenue Bend, OR 97703
For Sale
$1,555,000
COMMERCIAL - Bend, OR
Property Size4,100 SF
Lot Size0.16 Acres
Price / SF$379.27
Days on Market49
Property Features for 23 NW Greenwood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Standard status
Active
APN
103412
Size
4,100 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3827
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Concrete
Roof type
Membrane
Listing Agency:
Berkshire Hathaway HomeService
(541) 322-8880
Listed By:
Raechelle A Boddy · License #201219703
(248) 935-4592
Added: Jun 9
Changed: Jul 22
Last Checked: Jul 27 at 3:06PM
MLS# 220223191
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.
This single-story office building is designed for professional flexibility and everyday functionality. The interior includes 12 private offices, a reception area, a waiting area, and three bathrooms, including one full bath. Four separate entrances support multiple-tenant use and may also accommodate a medical conversion. Rear parking and convenient accessibility are included to serve both clients and staff.
Located on one of Bend’s busiest corridors, the property provides significant visibility along the Bend Parkway, with more than 53,000 vehicles passing daily.
Renovations were completed in 2005, and the building has newer HVAC along with consistent ongoing maintenance, supporting an owner-user or tenant-ready setup.
Located on one of Bend’s busiest corridors, the property provides significant visibility along the Bend Parkway, with more than 53,000 vehicles passing daily.
Renovations were completed in 2005, and the building has newer HVAC along with consistent ongoing maintenance, supporting an owner-user or tenant-ready setup.
Key Highlights
- Single‑story office building with approx. 4,100 SF, built in 1941
- 12 private offices plus reception, waiting area, and three bathrooms (including one full bath)
- Four separate entrances for multi‑tenant occupancy or a 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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Single-story office building with four separate entrances, reception and 12 private offices, plus 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 with approx. 4,100 SF, built in 1941; 12 private offices plus reception, waiting area, and three bathrooms (including one full bath); Four separate entrances for multi‑tenant occupancy or a medical conversion
