720 SE 9th St, Bend, OR 97702

Building Details

Year Built 1977 More

Listing Agency: SkyView Advisors

Listed By: Sam Olson · License OR #201238094

Source: Crexi

Added: Sep 23 Changed: Nov 10 Last Checked: Nov 12 at 5:20AM

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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 SkyView Advisors

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Investment Insights

Based on property information with market context.

This self-storage property contains 21,214 SF of net rentable area, arranged across 151 total units: 147 storage units and 4 uncovered parking spots. Constructed in 1977, it is 96% physically occupied by square feet, with 95% unit physical occupancy and 95% economic occupancy. Operations are automated, and customers can lease online. The property also has potential for multistory expansion up to 50 feet high.

At 720 SE 9th St in Bend, the facility is about 19 miles south of Redmond Municipal Airport. Nearby traffic corridors include Bend Parkway, with 43,502 VPD, and SE 3rd Street, with 24,800 VPD. Within a 5-mile radius, the population is 120,711 and median household income is $109,154; reported population growth is 1.38% within 5 miles and 2.36% within 1 mile.

Key Highlights

• 21,214 SF of net rentable area across 151 total units
• 147 storage units and 4 uncovered parking spots
• 96% physical occupancy by square feet; 95% unit physical occupancy and 95% economic occupancy

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$237,886

Cap Rate

5.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,757,720 $4.8M

Cap Rate 7%

$3,398,371 $3.4M

Cap Rate 9%

$2,643,178 $2.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,214 SF

Gross rent

$287.7K $13.56/SF

− Vacancy

−$7.8K −$0.37/SF

EGI

$279.9K $13.19/SF

− OpEx

−$42.0K −$1.98/SF

NOI

$237.9K $11.21/SF

Area

Bend, OR

Vacancy

2.71%

Lease Rate

$13.56 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,757,720

Cap Rate 7%

$3,398,371

Cap Rate 9%

$2,643,178

Alternative Uses

Best Use

Warehouse

$3.40M

$2.97M – $3.96M (±1% cap)

NOI $237,886 @ 7.0% cap · market cap 5.29%

Second Best

Self Storage

$2.81M

$2.46M – $3.28M (±1% cap)

NOI $196,730 @ 7.0% cap · market cap 4.37%

Theoretical Best

Specialty Retail

$9.16M

$8.02M – $10.69M (±1% cap)

NOI $641,511 @ 7.0% cap · market cap 14.26%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Summit Self Storage Storage Facility

Suggested Use

Top Pick Law Firm Barber Shop Grocery & Convenience Store (Bike/Boat/Book/etc) Store Catering Service Pet Grooming Service

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

Lease Details

96%

Occupancy

Location Intelligence

Trade Area within ½ mile

1,162

Businesses Nearby

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 Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Self storage facility - The facility uses automated operations and offers online leasing.

Where is this self storage facility located?

The property is located at 720 SE 9th St Bend, OR.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: 21,214 SF of net rentable area across 151 total units; 147 storage units and 4 uncovered parking spots; 96% physical occupancy by square feet; 95% unit physical occupancy and 95% economic occupancy