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Building Details

Year built 1995

Floors in Building 1

Number of units 4

Flooring type Carpet

Roof type Composition

Listing Agency: RE/MAX Key Properties · RE/MAX International m***@rmkporegon.com Show Phone

Listed By: Ryan Amerongen · License #OR 201209792 Show Phone

Added: Jul 10, 2025 Changed: Oct 2 Last Checked: Oct 15 at 3:06PM

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MLS# 220205605

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.

Investment Insights

Based on property information with market context.

This office property comprises two buildings with four units and a combined property size reported as 3,836 square feet. Two units are leased, while the remaining two suites are available for occupancy. The buildings were constructed in 1995 and feature carpet flooring, forced-air heating, central air, composition roofing, and a dedicated parking lot.

Located at 909 SE 2nd Street in Bend, Oregon, the property occupies 0.38 acres and is served by public water and public sewer. The four-unit configuration provides a combination of existing tenancy and vacant office suites within a compact commercial property.

Key Highlights

• Four office units across two buildings
• Two leased units and two suites available for occupancy
• Property size reported as 3,836 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,087

Cap Rate

4.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,101,740 $1.1M

Cap Rate 7%

$786,957 $787.0K

Cap Rate 9%

$612,078 $612.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,836 SF

Gross rent

$78.3K $20.40/SF

− Vacancy

−$4.8K −$1.25/SF

EGI

$73.4K $19.15/SF

− OpEx

−$18.4K −$4.79/SF

NOI

$55.1K $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%

$1,101,740

Cap Rate 7%

$786,957

Cap Rate 9%

$612,078

Alternative Uses

Best Use

Office B

$787.0K

$688.6K – $918.1K (±1% cap)

NOI $55,087 @ 7.0% cap · market cap 4.79%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.66M

$1.45M – $1.93M (±1% cap)

NOI $116,001 @ 7.0% cap · market cap 10.09%

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

welcome to premier dental ... Dental Office OSPREY PHYSICAL THERAPY ... Medical Clinic

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Locksmith (Bike/Boat/Book/etc) Store Fish Market Supermarket

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

4

Office units

Location Intelligence

Trade Area within ½ mile

1,442

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 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 units - Two office buildings offer a mix of leased space and suites available for occupancy.

Where is this office units located?

The property is located at 909 SE 2nd Street Bend, OR.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: Four office units across two buildings; Two leased units and two suites available for occupancy; Property size reported as 3,836 square feet