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    Redmond Live-Work Unit on Highway Title is generated by Realmo AI

    3625 N Hwy 97, Redmond, OR 97756

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    For Sale
    $900,000

    COMMERCIAL - Redmond, OR

    Property size:
    3,168 SF
    Lot size:
    1.68 Acres
    Price / SF:
    $284/SF
    Added:
    Oct 14, 2025
    Days on Market:
    214
    Last Refresh:
    May 15 at 3:06 am

    Property Features for 3625 N Hwy 97

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage, Driveway, Parking Lot
    Window features
    Vinyl Frames
    Interior features
    Laminate Counters
    Standard status
    Active
    APN
    128646
    Size
    3,168 SF
    Lot size
    1.68 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2233

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Evaporative Cooling, Heat Pump
    Water source
    Well, Private

    Building Details

    Year built
    2004
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Laminate, Carpet, Concrete
    Building materials
    Block, Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Jeffrey Casserly

    Listing agent Jeffrey Casserly License #200606059

    Listing office Desert Sky Real Estate LLC 1655 SW Highland Ave., Ste 1, Redmond, OR

    Listing date Oct 14, 2025

    MLS# 220210649

    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.

    HighLights

    • Prime location at 'Ground ZERO' for Redmond's Northwest expansion, abutting new residential community and city limits.
    • High‑traffic Hwy 97 frontage offers significant commercial potential.
    • Existing block warehouse configured as a live‑work unit provides immediate use and income potential.
    • Includes an additional vacant 768 sq. ft., 2‑bedroom, 1‑bathroom residence.
    • Private well and recently inspected septic system in good condition.
    • Proximity to new Redmond wastewater treatment expansion lines.

    Overview

    This commercial property in Redmond, Oregon, features highway frontage directly south of Pershall/Oneil Highway. The property includes an existing block warehouse currently configured as a live-work unit. In addition to the warehouse, there is a vacant 768 square foot residence with 2 bedrooms and 1 bathroom, as well as a 600 square foot private well pump house. The site is located at what is considered ground zero for Redmond's northwest expansion, with a new Hayden residential community and Redmond city limits abutting the south property line. The property spans 1.68 acres. The septic system was pumped and inspected on July 25th and reported to be in good condition. New Redmond waste water treatment expansion lines to the Wetlands Project are in process now and directly west of the site. The existing block warehouse has 3,168 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Department Store Kitchen & Bath Showroom Food Market Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.17361
    Latitude
    44.309296

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    FAQs

    What type of property is this?
    Live-work space - Live-work property with highway frontage in Redmond, Oregon.
    Where is this live-work space located?
    The property is located at 3625 N Hwy 97 Redmond, OR.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Prime location at 'Ground ZERO' for Redmond's Northwest expansion, abutting new residential community and city limits.; High‑traffic Hwy 97 frontage offers significant commercial potential.; Existing block warehouse configured as a live‑work unit provides immediate use and income potential.
    (541) 550-6656
    We can help!
    Listing Contact
    Jeffrey Casserly
    Real Estate License ID: 200606059
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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