Listing Agency: Strategic Realty LLC Show Phone

Listed By: Kerry O'Neal · License #981000098 Show Phone

Source: Evimerorealty

Added: Aug 30 Changed: Oct 16 Last Checked: Oct 19 at 6:49AM

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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 Strategic Realty LLC

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Investment Insights

Based on property information with market context.

This 2,180-square-foot office unit at 671 NE Greenwood Avenue includes a large central workspace, Greenwood-facing windows, updated HVAC with a digital thermostat, and an ADA-compliant restroom. A breakroom with kitchenette adds practical support space, while the existing vault provides a specialized feature for legal, financial, medical, or security-focused operations.

The suite sits along Greenwood Avenue, an east-west corridor with exposure to more than 20,000 vehicles per day. Monument signage, drive-by traffic, 10 dedicated off-street parking spaces, and additional street parking support business access and visibility. Mixed-Use Neighborhood (MN) zoning allows a variety of office and clinic uses.

Key Highlights

• 2,180 SF office unit at 671 NE Greenwood Avenue, 1, Bend, OR 97701
• Exposure to 20,000+ vehicles per day along Greenwood Avenue
• Existing vault suited to legal, financial, medical, or security‑focused users

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,306

Suggested Prices Based on Cap Rates

Cap Rate 5%

$626,120 $626.1K

Cap Rate 7%

$447,229 $447.2K

Cap Rate 9%

$347,844 $347.8K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,180 SF

Gross rent

$44.5K $20.40/SF

− Vacancy

−$2.7K −$1.25/SF

EGI

$41.7K $19.15/SF

− OpEx

−$10.4K −$4.79/SF

NOI

$31.3K $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%

$626,120

Cap Rate 7%

$447,229

Cap Rate 9%

$347,844

Alternative Uses

Best Use

Office B

$447.2K

$391.3K – $521.8K (±1% cap)

NOI $31,306 @ 7.0% cap · market cap 3,130,600.00%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$941.8K

$824.0K – $1.10M (±1% cap)

NOI $65,923 @ 7.0% cap · market cap 6,592,300.00%

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

Einstein Pros General Contractor Myers Neurofeedback and Counseling, ... Crisis Center

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Fish Market Grocery & Convenience Store Tanning Salon Buffet

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

1,724

Businesses Nearby

Explore this area Business Placement

Demographics for 97701, OR

42,159

Population

19,020

Households

2.2

Avg Household Size

38

Median Age

42%

College-Educated

94%

High-School Grad

311.8 sq mi

ZIP Area

135

Density / Sq Mi

$77,969

Median Household Income

$47,431

Median Earnings

$1,700

Median Rent

$567,800

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?

Office unit - Greenwood-facing windows, updated HVAC, and mixed-use zoning support office and clinic operations.

Where is this office unit located?

The property is located at 671 NE Greenwood Avenue 1 Bend, OR.

What are key features of this property?

This property features: 2,180 SF office unit at 671 NE Greenwood Avenue, 1, Bend, OR 97701; Exposure to 20,000+ vehicles per day along Greenwood Avenue; Existing vault suited to legal, financial, medical, or security‑focused users