Two-Property NNN Commercial
For Sale
Contact for pricing
526 NW Greenwood Ave, Redmond, OR 97756
Includes a single-tenant auto parts building and a multi-tenant property occupied by salon, spa, and grappling academy businesses.
Property Size8,752 SF
Price / SF$205.67
Days on Market10
Property Features for 526 NW Greenwood Ave
General Information
Standard status
Active
Size
8,752 SF
Total Parking Spaces
29
Property subtype
Retail
Zoning
C2 (Central Business District)
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1988
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
NAI Cascade Commercial Real Estate Services, Worldwide
Listed By:
Jenn Limoges, CCIM · License #OR 201207479
Source:
Crexi
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 3:27AM
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 NAI Cascade Commercial Real Estate Services, Worldwide
Investment Insights
Based on property information with market context.
This offering combines two commercial properties in downtown Redmond. One is a single-tenant building occupied by Baxter Auto Parts at the corner of NW 6th Street and NW Greenwood Avenue. The second is a multi-tenant commercial building with WilderLuxe Salon & Spa and Redmond Grappling Academy as occupants. Both properties are subject to NNN leases, and professional management is already in place.
The assets are located at 526 NW Greenwood Ave and 636 NW 6th St in Redmond, Oregon. The properties are within the C2 Central Business District and benefit from downtown positioning near retail, restaurants, services, and residential development. Combined property size is 8752, with the improvements dating to 1988. The tenant mix spans automotive parts, personal services, and fitness-oriented operations across the two buildings.
The assets are located at 526 NW Greenwood Ave and 636 NW 6th St in Redmond, Oregon. The properties are within the C2 Central Business District and benefit from downtown positioning near retail, restaurants, services, and residential development. Combined property size is 8752, with the improvements dating to 1988. The tenant mix spans automotive parts, personal services, and fitness-oriented operations across the two buildings.
Key Highlights
- Two‑property commercial offering at 526 NW Greenwood Ave and 636 NW 6th St
- Single‑tenant Baxter Auto Parts building at the NW 6th Street and NW Greenwood Avenue corner
- Multi‑tenant building occupied by WilderLuxe Salon & Spa and Redmond Grappling Academy
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
$80,823
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
4.49%
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%
$1,616,460
$1.6M
Cap Rate 7%
$1,154,614
$1.2M
Cap Rate 9%
$898,033
$898.0K
Market Conditions
NOI Build-Up for 8,752 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
$118.7K $13.56/SF
− Vacancy
−$3.2K −$0.37/SF
EGI
$115.5K $13.19/SF
− OpEx
−$34.6K −$3.96/SF
NOI
$80.8K $9.23/SF
Area
Deschutes County, OR
Vacancy
2.71%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,616,460
Cap Rate 7%
$1,154,614
Cap Rate 9%
$898,033
Alternative Uses
Best Use
Retail
$3.01M
$2.64M – $3.51M
NOI $210,846 @ 7.0% cap · market cap 11.71%
Second Best
Industrial
$1.15M
$1.01M – $1.35M
NOI $80,823 @ 7.0% cap · market cap 4.49%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Includes a single-tenant auto parts building and a multi-tenant property occupied by salon, spa, and grappling academy businesses.
Where is this nnn property located?
The property is located at 526 NW Greenwood Ave Redmond, OR.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two‑property commercial offering at 526 NW Greenwood Ave and 636 NW 6th St; Single‑tenant Baxter Auto Parts building at the NW 6th Street and NW Greenwood Avenue corner; Multi‑tenant building occupied by WilderLuxe Salon & Spa and Redmond Grappling Academy
