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Listing Agency: Fratzke Commercial Real Estate Show Phone

Listed By: Brian Fratzke · License #200402169 Show Phone

Source: Moodyscre

Added: Jul 17 Changed: Oct 3 Last Checked: Oct 14 at 11:58PM

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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.

Located at 635 SE Business Way in Bend, Oregon, this flex property includes approximately 11,100 RSF across two buildings. The primary 9,000 RSF structure provides an open showroom, offices, and restrooms on both levels, along with a lower level containing additional office space and a 7-foot roll-up door. A separate 2,100 RSF shop and warehouse adds another functional work area with its own 7-foot roll-up door.

The property occupies a 0.60-acre IL-zoned parcel within the Wilson Avenue Business & Industrial Park. Seven front parking spaces are supplemented by paved parking at the lower level, and an existing pole sign serves the site. Building infrastructure includes three 200-amp/240V electrical panels, fiber-optic availability, and a gas heat pump.

Key Highlights

• Approximately 11,100 RSF across a 9,000 RSF main building and 2,100 RSF auxiliary shop
• 0.60‑acre IL‑zoned lot in Wilson Avenue Business & Industrial Park
• Open showroom plus offices and restrooms on both levels of the main building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$159,402

Cap Rate

6.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,188,040 $3.2M

Cap Rate 7%

$2,277,171 $2.3M

Cap Rate 9%

$1,771,133 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,100 SF

Gross rent

$226.4K $20.40/SF

− Vacancy

−$13.9K −$1.25/SF

EGI

$212.5K $19.15/SF

− OpEx

−$53.1K −$4.79/SF

NOI

$159.4K $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%

$3,188,040

Cap Rate 7%

$2,277,171

Cap Rate 9%

$1,771,133

Alternative Uses

Best Use

Retail

$3.82M

$3.34M – $4.46M (±1% cap)

NOI $267,412 @ 7.0% cap · market cap 10.29%

Second Best

Office B

$2.28M

$1.99M – $2.66M (±1% cap)

NOI $159,402 @ 7.0% cap · market cap 6.13%

Theoretical Best

Specialty Retail

$4.80M

$4.20M – $5.59M (±1% cap)

NOI $335,664 @ 7.0% cap · market cap 12.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

MicroSphere Computers Electronics & Wireless Store Bill's Electric Electrical Service

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Grocery & Convenience Store (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

796

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 97702, OR

51,161

Population

23,318

Households

2.2

Avg Household Size

42

Median Age

46%

College-Educated

96%

High-School Grad

103.5 sq mi

ZIP Area

494

Density / Sq Mi

$89,094

Median Household Income

$47,743

Median Earnings

$1,825

Median Rent

$620,600

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial flex property combining showroom, office, and warehouse areas across multiple levels and a separate shop building.

Where is this flex space located?

The property is located at 635 SE Business Way Bend, OR.

What is the asking price?

The asking price for this property is $2,599,000.

What are key features of this property?

This property features: Approximately 11,100 RSF across a 9,000 RSF main building and 2,100 RSF auxiliary shop; 0.60‑acre IL‑zoned lot in Wilson Avenue Business & Industrial Park; Open showroom plus offices and restrooms on both levels of the main building