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    20540 Empire Ave Bend, OR 97701
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    Property profile & analytics

    20540 Empire Ave Bend, OR 97701

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    • Residential income homes
    • 0.57 lot acres
    Off-Market
    Property ID
    US71-1371774
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 20540 Empire Ave

    Year built
    2022
    Lot size
    0.57 lot acres
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents 12 luxury townhomes for sale in Bend, Oregon's desirable northeast area. Part of a larger 76-unit master-planned community, these 12 units are available for purchase individually or as a portfolio. Currently under construction, with completion expected in early 2024, these units boast condo-quality finishes including two-car garages, open floor plans, high ceilings, gourmet kitchens with stainless steel appliances and quartz countertops. Three distinct floor plans (Metolius, Tumalo & Summit) offer 2-3 bedrooms and 2-3 bathrooms, ranging from 1,464 to 1,692 square feet. Each unit features private balconies, individually metered utilities (gas, water, electricity), high-efficiency HVAC and water heaters, and attractive exterior finishes including HardiePlank siding and Milgard windows. The property sits on a 0.57-acre lot and comprises two six-unit buildings. The total net rentable square footage is 19,096, with a current NOI of $334,174 and a 5.34% cap rate. The asking price for the entire portfolio is $6,254,000, or $521,166.67 per unit. This presents a compelling opportunity to capitalize on Bend's robust rental market and potentially benefit from individual unit sales in the future. The property offers Cascade Mountain views and is situated at 20540 NE Empire Ave, Bend, OR 97701. Construction began in 2021, and 36 units have already been completed and sold. Note: An additional fully finished and rent-ready 6-plex building is also available for purchase.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.2970564
    Latitude
    44.0905469

    Comparable in this City

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      Land For Sale

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      Bend, Oregon Land For Sale

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      Highway Frontage Retail Land

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    Similar Nearby for Sale

    • $969,000
      0.28 Acres

      Bend, OR Developed Lots

      Three mixed residential 'live-work' zoned developed lots for sale.
      62062 Dean Swift Rd, Bend, OR 97701
      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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      21,376 SF

      Bend Mixed-Use Retail/Warehouse Opportunity

      21,376 SF retail, showroom, warehouse, and office space for sale.
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      Land Available in Bend, Oregon

      Land for sale in Bend, Oregon.
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    • $5,400,002

      Prime Redevelopment Land in Bend

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      Bend Land in Medical District

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    Similar Nearby for Lease

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      New Industrial Space For Rent

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      Commercial Space For Lease

      Commercial property available for lease.
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      Retail Space in Bend, Oregon

      Retail space available for lease in Bend, Oregon.
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      Bend Commercial Space For Lease

      Commercial space available for lease in Bend, Oregon.
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      Retail Space For Lease

      Retail property available for lease in Bend, Oregon.
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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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    Bend, OR 97701
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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.

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