Mixed-Use Property with
For Sale
$2,550,000
Pending
62910 Ob Riley Rd, Bend, OR 97703
Includes a leased restaurant, adjacent office buildings, and an adjoining vacant lot.
Property Size11,024 SF
Days on Market92
Property Features for 62910 Ob Riley Rd
General Information
Standard status
Pending
Size
11,024 SF
Property subtype
Commercial
Additional Details
Cap Rate
6.75%
Building Details
Year Built
1999
Buildings
3
Tenancy
Multi
Listing Agency:
RE/MAX Key Properties
Listed By:
Dan C Steelhammer
(541) 728-0033
Source:
Portlandoregonhomelistings
Added: Jul 15
Changed: Oct 1
Last Checked: Oct 12 at 7:50PM
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 RE/MAX Key Properties
Investment Insights
Based on property information with market context.
McKay Cottage Plaza comprises the real estate associated with McKay Cottage Restaurant, two neighboring office buildings, and an adjoining vacant lot. The property has received recent HVAC improvements, along with new sealing and striping. A sub-water meter serves the restaurant, which pays its own utilities.
The restaurant is under a long-term lease, while the office tenants are primarily committed to two-year leases. Current rents and historical expenses support a 6.75 CAP on the APOD, with projected tax and insurance increases incorporated into the analysis. The offering is for real estate only, and financials and a rent roll are available upon completion of an NDA. The property is located at 62910 Ob Riley Rd in Bend, Oregon.
The restaurant is under a long-term lease, while the office tenants are primarily committed to two-year leases. Current rents and historical expenses support a 6.75 CAP on the APOD, with projected tax and insurance increases incorporated into the analysis. The offering is for real estate only, and financials and a rent roll are available upon completion of an NDA. The property is located at 62910 Ob Riley Rd in Bend, Oregon.
Key Highlights
- Real estate includes McKay Cottage Restaurant, two adjacent office buildings, and a vacant lot
- 6.75 CAP on APOD using current rents and historical expenses
- Restaurant has a long‑term lease and pays its own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,311
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,166,220
$3.2M
Cap Rate 7%
$2,261,586
$2.3M
Cap Rate 9%
$1,759,011
$1.8M
Market Conditions
NOI Build-Up for 11,024 SF
Gross rent
$224.9K $20.40/SF
− Vacancy
−$13.8K −$1.25/SF
EGI
$211.1K $19.15/SF
− OpEx
−$52.8K −$4.79/SF
NOI
$158.3K $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 Rate 5%
$3,166,220
Cap Rate 7%
$2,261,586
Cap Rate 9%
$1,759,011
Alternative Uses
Best Use
Specialty Retail
$4.76M
$4.17M – $5.56M
NOI $333,366 @ 7.0% cap · market cap 13.07%
Second Best
Office B
$2.26M
$1.98M – $2.64M
NOI $158,311 @ 7.0% cap · market cap 6.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a leased restaurant, adjacent office buildings, and an adjoining vacant lot.
Where is this mixed-use property located?
The property is located at 62910 Ob Riley Rd Bend, OR.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Real estate includes McKay Cottage Restaurant, two adjacent office buildings, and a vacant lot; 6.75 CAP on APOD using current rents and historical expenses; Restaurant has a long‑term lease and pays its own utilities
