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    550 Industrial Way Bend, OR 97702
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    550 Industrial Way, Bend, OR 97702

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Gear Fix / Discount Store / (Bike/Boat/Book/etc) Store
    • Box Factory / Shopping Center & Mall
    • Misty Dawn designs / (Bike/Boat/Book/etc) Store
    • Focus Physical Therapy / Medical Clinic
    • The Barrel Room at Immersion Brewing / Hotel & Motel / Resort

    Property Details for 550 Industrial Way

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    The Box Factory, located at 550 SW Industrial Way, Bend, OR 97702, offers a unique opportunity to lease creative office space in a historically significant building. This Deschutes County property features multiple suites available, ranging from 1,466 to 3,938 square feet, with a minimum divisible space of 2,126 square feet and a maximum contiguous space of 2,126 square feet. The building's past life as a mill box factory adds character and charm to these versatile spaces, suitable for a variety of uses including restaurant, retail, and office tenants. Strategically positioned between the Old Mill District and downtown Bend, this location provides exceptional visibility and accessibility. The property benefits from high traffic counts and convenient access to Highway 97, bridging two thriving shopping districts. Net operating expenses are estimated at $0.49 per square foot per month. This is an excellent opportunity for businesses seeking a unique and well-located space in the heart of Bend, Oregon. The property is classified as a Creative Office, Storefront, Bar, and Tasting Room, offering flexibility for various business types.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.315
    Latitude
    44.0509

    Comparable in this City

    • Value Estimation
      $1,945,000
      6,768 SF

      1141 Centennial Ct

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    • Value Estimation
      $1,070,000
      3,864 SF

      64 Century Dr

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      64 Century Dr, Bend, OR 97702-3563
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    • Value Estimation by Request
      0.82 Acres

      665 Columbia St

      STORE, RETAIL OUTLET
      665 Columbia St, Bend, OR 97702-1044
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    • Value Estimation
      $1,245,000
      4,000 SF

      449 3rd St

      STORE, RETAIL OUTLET
      449 3rd St, Bend, OR 97702-1663
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    • Value Estimation
      $565,000
      1,792 SF

      185 3rd St

      STORE, RETAIL OUTLET
      185 3rd St, Bend, OR 97702-1364
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    • Value Estimation
      $1,705,000
      2,950 SF

      822 3rd St

      STORE, RETAIL OUTLET
      822 3rd St, Bend, OR 97702-2055
      View Details

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      Westside Property with Redevelopment Potential

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      Retail Property in Bend, Oregon

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      Bend Office Building Investment

      Prime Bend location, 100% occupied, strong cash flow.
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    Similar Nearby for Lease

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      Bend Factory Stores Retail Space

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      Bend Commercial Space For Lease

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      Single Tenant Office Space

      Office space available for single tenant occupancy.
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      Turn-Key Office Condo in Bend

      Two-story office condo in the Old Mill District.
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      Retail Space in Bend, Oregon

      Retail space available for lease in Bend, Oregon.
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    Bend, OR 97702
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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