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    1855 Lotus Dr Bend, OR 97701-6187
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    Property profile & analytics

    1855 Lotus Dr, Bend, OR 97701-6187

    View on Map
    • Apartment buildings
    • 8,492 SF
    • 3.34 lot acres
    Off-Market
    Property ID
    US71-0838996
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,880,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sienna Pointe Apartments / Apartment Rental Agency / Condominium Rental Agency

    Property Details for 1855 Lotus Dr

    Year built
    1990
    Lot size
    3.34 lot acres
    Zone code
    GI
    Property type
    Apartment buildings
    APN
    171234 BA 01300
    APU
    171234BA01300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 28, 2019 — Bend Housing LLC — Grant Deed · related $3.6M · Walker & Dunlop
    Aug 24, 2016 $23,750,000 Bend Housing LLC Saltzman Properties LLC Grant Deed $19M · Walker & Dunlop
    Feb 1, 2013 — Saltzman Properties LLC — Deed Of Trust · related $9M · Sterling Savings Bank
    Nov 15, 2007 $14,250,000 Saltzman Properties Meadows Investors LLC Grant Deed $9.6M · Sterling Savings Bank
    Nov 7, 2007 — Ptla Meadows Investors LLC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,881,000
      Market price range: $691k - $5.88M
      AI Estimate
      $5,881,000
      Market price range: $691k - $5.88M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.277
    Latitude
    44.0628
    CBSA code
    13460
    CBSA name
    BEND, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $61,330
    $0.00
    $0.00
    $3,836,290
    -
    $1,846,700
    $12,673,220
    $14,519,920

    Comparable in this City

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      26,526 SF

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      1407 10th St

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    • Value Estimation
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      9,996 SF

      680 Bellevue Dr

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    • Value Estimation
      $915,000
      6,157 SF

      2444 Conners Ave

      APARTMENT HOUSE (5+ UNITS)
      2444 Conners Ave, Bend, OR 97701-6366
      View Details
    • Value Estimation
      $3,025,000
      26,405 SF

      2248 4th St

      APARTMENT HOUSE (5+ UNITS)
      2248 4th St, Bend, OR 97701-3633
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      37,712 SF

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      12,314 SF

      Bend Multifamily Investment Opportunity

      Fully leased 10-unit multifamily property near St. Charles Medical Center.
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      View Details
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      1,732 SF

      Retail Space Available For Sale

      Retail space with 1,732 SqFt available for purchase.
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      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      63205 Gibson Air Rd, Bend, OR 97701
      View Details
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      3,068 SF

      Bend Medical/Office Building For Sale

      Split-level medical/office building with dedicated parking in Bend, Oregon.
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    • $119,900
      33,976 SF

      Juniper Preserve Corner Lot

      Corner lot in Juniper Preserve with resort amenities.
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    Similar Nearby for Lease

    • $2 SF/Yr

      Bend Office Space For Lease

      Refined office space in walkable downtown Bend location.
      701 Northwest Arizona Ave, Bend, OR 97701
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      2,940 SF

      Bend Office Space For Rent

      Office space available for rent in Bend, Oregon.
      2400 NE Neff Rd, Bend, OR 97701
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    • Contact for pricing
      4,124 SF

      Medical Office Space Available

      Built-out medical office space near St. Charles Hospital.
      1303 NE Cushing Dr, Bend, OR 97701
      View Details
    • Contact for pricing

      Bend Commercial Space For Lease

      Commercial space available for lease in Bend, Oregon.
      1900 NE Division St, Bend, OR 97701
      View Details
    • $30 SF/Yr
      45,205 SF

      Bend Executive Office Space

      Prime Bend location, multiple suites available.
      1230 3Rd St, Bend, OR 97701
      View Details
    • Contact for pricing

      Industrial Flex Space Available

      Industrial flex space available for rent, 1,500 square feet.
      1420 NE 1St St, Bend, OR 97701
      View Details
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    Bend, OR 97701-6187
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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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