Bend Medical/Office Building For
477 NE Greenwood Ave Bend, OR
For Sale
Contact for pricing
Split-level medical/office building with dedicated parking in Bend, Oregon.
Property Size3,068 SF
Lot Size0.16 Acres
Price / SF$318.48
Days on Market376
Property Features for 477 NE Greenwood Ave
General Information
Standard status
Active
Size
3,068 SF
Lot size
0.16 Acres
Property subtype
OFFICE
Listing Agency:
Fratzke Commercial Real Estate
(541) 480-2526
Listed By:
Brian Fratzke · License #200402169
(541) 480-2526
Source:
Moodyscre
Added: Jul 17, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:23AM
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 Fratzke Commercial Real Estate
Investment Insights
Based on property information with market context.
This split-level light-medical/office building features wood frame and concrete block construction. The roof was replaced in 2023 with a membrane roofing system. The property includes separate HVAC units for the upper and lower levels, with individual thermostats in the upper-level suites. The upper-level suites have dedicated private points of entry and one common area unisex restroom. There is also one unisex restroom on the lower level. CAT 5 data is available. The building has 220 amp/240v electrical service. It is located on a highly visible corner at Greenwood Avenue and NE 5th Street. The property includes eleven dedicated parking stalls, four of which are covered, and parking lot lighting. UIC has completed Rule Authorized and Registration with the State of Oregon DEQ. Water, sewer, electrical, gas, and telecommunications are all connected to the building. The property size is 3068 square feet.
Key Highlights
- Fully compliant with Oregon DEQ regulations (Water, Sewer, Electrical, Gas, Teleco).
- New roof installed in 2023 with membrane roofing system.
- Separate HVAC units for upper and lower levels, with individual thermostats in upper‑level suites.
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 | $81.0k | $26.40 |
| − Vacancy | −$4.0k | −$1.32 |
| EGI | $76.9k | $25.08 |
| − OpEx | −$30.8k | −$10.03 |
| NOI | $46.2k | $15.05 |
3,068 SF · lease $26.40/SF/yr · vacancy 5.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$659.5K
$577.1K – $769.5K
NOI $46,167 @ 7.0% cap · market cap 4.72%
Second Best
Office B
$629.4K
$550.7K – $734.3K
NOI $44,058 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,776 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Alpine Veterinary Clinic — 354 NE Dekalb Ave #200, Bend, OR 97701
- Bush Animal Clinic — 530 SW Mill View Way #1, Bend, OR 97702
- J&K Veterinary — 838 NW Bond St, Bend, OR 97703
- Quinn Meg DVM — 530 SW Mill View Way # 1, Bend, OR 97702
- Gyorgyfalvy Joy DVM — 530 SW Mill View Way # 1, Bend, OR 97702, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Split-level medical/office building with dedicated parking in Bend, Oregon.
Where is this medical office space located?
The property is located at 477 NE Greenwood Ave Bend, OR.
What is the asking price?
The asking price for this property is $977,100.
What are key features of this property?
This property features: Fully compliant with Oregon DEQ regulations (Water, Sewer, Electrical, Gas, Teleco).; New roof installed in 2023 with membrane roofing system.; Separate HVAC units for upper and lower levels, with individual thermostats in upper‑level suites.
