Corner Lot Office
For Sale
$799,000
Pending
2514 Ne Division St, Bend, OR 97701
Well-maintained office building with updated finishes, a lobby, and multiple private offices on a corner lot.
Property Size1,676 SF
Days on Market102
Property Features for 2514 Ne Division St
General Information
Standard status
Pending
Size
1,676 SF
Zoning
CL Commercial Limited
Taxes and HOA fees
Annual Taxes
$4,761
Amenities
conference room
kitchen area
lobby
Listing Agency:
Duke Warner Realty ERA Powered
(541) 382-8262
Listed By:
Carolyn K. Emick
(541) 419-0717
Source:
Exprealty
Added: May 27
Changed: Aug 20
Last Checked: Sep 5 at 12:14PM
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 Duke Warner Realty ERA Powered
Investment Insights
Based on property information with market context.
Well-maintained professional office building on a corner lot with fresh paint and recent upgrades throughout. The space totals 1,676 square feet of usable office area and includes a welcoming lobby, a kitchen area, two cubicles, four private offices, and a conference room that can serve as an additional office. Standard office finishes are in place, and the building is presented as an affordable option for an owner-occupant or investor.
The property is located on NE Division with high drive-by visibility, easy access, and abundant parking. Zoned Deschutes CL Commercial Limited, it offers long-term continuity with a tenant currently in place; the long-term tenant is retiring at the end of October 2026 after approximately 26 years.
This is the first time the property has been listed for sale, and it is described as priced to sell.
The property is located on NE Division with high drive-by visibility, easy access, and abundant parking. Zoned Deschutes CL Commercial Limited, it offers long-term continuity with a tenant currently in place; the long-term tenant is retiring at the end of October 2026 after approximately 26 years.
This is the first time the property has been listed for sale, and it is described as priced to sell.
Key Highlights
- 1,676 SF office building on a corner lot with a lobby and standard office finishes
- Layout includes two cubicles, four private offices, a conference room (could be used as an office), and a kitchen area
- Recently upgraded and freshly painted throughout
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
$24,068
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
3.01%
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%
$481,360
$481.4K
Cap Rate 7%
$343,829
$343.8K
Cap Rate 9%
$267,422
$267.4K
Market Conditions
NOI Build-Up for 1,676 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
$34.2K $20.40/SF
− Vacancy
−$2.1K −$1.25/SF
EGI
$32.1K $19.15/SF
− OpEx
−$8.0K −$4.79/SF
NOI
$24.1K $14.36/SF
Area
Bend, OR
Vacancy
6.14%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$481,360
Cap Rate 7%
$343,829
Cap Rate 9%
$267,422
Alternative Uses
Best Use
Office B
$343.8K
$300.9K – $401.1K
NOI $24,068 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$724.0K
$633.5K – $844.7K
NOI $50,682 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with updated finishes, a lobby, and multiple private offices on a corner lot.
Where is this office building located?
The property is located at 2514 Ne Division St Bend, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1,676 SF office building on a corner lot with a lobby and standard office finishes; Layout includes two cubicles, four private offices, a conference room (could be used as an office), and a kitchen area; Recently upgraded and freshly painted throughout
