Three-Story Mixed-Use
621 SW Evergreen Avenue, Redmond, OR 97756
For Sale
$1,400,000
Commercial Sale, Redmond, OR
Property Size7,500 SF
Lot Size0.06 Acres
Price / SF$186.67
Days on Market283
Property Features for 621 SW Evergreen Avenue
General Information
Property type
Property subtype
Zoning description
Parking features
Interior features
Accessibility
Lot features
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Standard status
APN
Size
Lot size
Site & Location
Corner Location
Mixed-Use Components
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
John L. Scott Medford
(541) 779-3611
Listed By:
Martin Outdoor Property Group · License OR #200706071
(541) 660-5111
Added: Feb 2
Changed: Nov 10
Last Checked: Nov 11 at 12:06AM
MLS# 220214643
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.
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Investment Insights
Based on property information with market context.
The 7,500-square-foot brick property at 621 SW Evergreen Avenue has three stories and dates to 1919. Its current configuration includes two ground-floor retail units, two commercial units on the third floor, and 10 apartments across the second and third floors. A renovation in 1932 added two floors. The building also has an elevator, central air, electric heat, and a membrane roof.
The property sits at the intersection of SW Evergreen Avenue and Sixth Street in downtown Redmond. Public water and sewer serve the site, and parking is on the street.
The property sits at the intersection of SW Evergreen Avenue and Sixth Street in downtown Redmond. Public water and sewer serve the site, and parking is on the street.
Key Highlights
- 7,500‑square‑foot, three‑story mixed‑use building
- Built in 1919; renovated in 1932, when two floors were added
- Two ground‑floor retail units and two third‑floor commercial units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,050
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,000
$1.9M
Cap Rate 7%
$1,372,143
$1.4M
Cap Rate 9%
$1,067,222
$1.1M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$189.0K $25.20/SF
− Vacancy
−$14.4K −$1.92/SF
EGI
$174.6K $23.28/SF
− OpEx
−$78.6K −$10.48/SF
NOI
$96.0K $12.81/SF
Area
Deschutes County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,000
Cap Rate 7%
$1,372,143
Cap Rate 9%
$1,067,222
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,684 @ 7.0% cap · market cap 12.91%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,050 @ 7.0% cap · market cap 6.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A fully leased property combines ground-floor retail with commercial space and apartments on the upper floors.
Where is this mixed-use property located?
The property is located at 621 SW Evergreen Avenue Redmond, OR.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7,500‑square‑foot, three‑story mixed‑use building; Built in 1919; renovated in 1932, when two floors were added; Two ground‑floor retail units and two third‑floor commercial units
