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    224 Thurston Ave Bend, OR 97701-3852
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    Property profile & analytics

    224 Thurston Ave, Bend, OR 97701-3852

    View on Map
    • Outlet malls
    • 17,524 SF
    • 1.20 lot acres
    Off-Market
    Property ID
    US71-1029038
    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
    $3,905,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Administrative Offices of Bend-Redmond Habitat For Humanity / Charitable Organization / Social Service Agency
    • Habitat for Humanity ReStore / Discount Store
    • TROOP 90 CHRISTMAS TREE LOT / Home Decor Store / Party Supply Store

    Property Details for 224 Thurston Ave

    Year built
    1964
    Lot size
    1.20 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    171228 CB 03601
    APU
    171228CB03601

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 1, 2021 — James Marshall — Deed · related $126k · Bend Redmond Habitat For Humanity
    Dec 3, 2020 — Bend Area Habitat For Humanity — Deed · related —
    Mar 6, 2019 — Bend Area Habitat For Humanity — Grant Deed · related $2.5M · First Interstate Bk
    Jul 8, 2014 — Area Habitat For Humanity Bend Bend Area Habitat For Humanity Quit Claim Deed · related —
    Oct 28, 2013 $1,050,012 Area Habitat For Humanity Bend Backstrom,susie J Warranty Deed $263k · Ray Shirley V Trust (pt)
    Oct 28, 2013 — Backstrom,carl Trust Swb Ents INC Grant Deed · related —
    Jul 27, 2009 — Susie J Backstrom Backstrom Carl & M Trust Quit Claim Deed · related —
    Jun 1, 2004 — Bonnie J Bond Backstrom Carl & Margaret Grant Deed · related —
    — — Bend Area Habitat Of Humanity INC — Deed Of Trust · related $67k · Robert C Backstrom
    — — Bend Area Habitat Of Humanity INC — Deed Of Trust · related $67k · Judy A Dodds
    — — Bend Area Habitat For Humanity — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,903,000
      Market price range: $3.90M - $10.5M
      AI Estimate
      $3,903,000
      Market price range: $3.90M - $10.5M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $6,490,000
      COMMERCIAL (GENERAL)
      $6,100,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.303
    Latitude
    44.07
    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
    $0.00
    $0.00
    $0.00
    $406,040
    -
    $1,195,280
    $1,159,880
    $2,355,160

    Comparable in this City

    • Value Estimation
      $19,945,000
      33,308 SF

      2717 Hwy 20

      WHOLESALE OUTLET, DISCOUNT STORE
      2717 Hwy 20, Bend, OR 97701-9595
      View Details
    • Value Estimation
      $2,150,000
      5,460 SF

      1500 3rd St

      WHOLESALE OUTLET, DISCOUNT STORE
      1500 3rd St, Bend, OR 97701-4236
      View Details
    • Value Estimation
      $3,910,000
      15,000 SF

      350 Addison Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      350 Addison Ave, Bend, OR 97701-3608
      View Details
    • Value Estimation
      $1,350,000
      5,340 SF

      1830 2nd St

      WHOLESALE OUTLET, DISCOUNT STORE
      1830 2nd St, Bend, OR 97701-4049
      View Details
    • Value Estimation by Request
      8,733 SF

      20520 Robal Ln Ste, Unit 100

      REGIONAL SHOPPING CENTER, MALL
      20520 Robal Ln Ste, Bend, OR 97701-6751
      View Details
    • Value Estimation by Request
      8,539 SF

      20504 Robal Ln Ste, Unit 101

      REGIONAL SHOPPING CENTER, MALL
      20504 Robal Ln Ste, Bend, OR 97701-6702
      View Details

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      Retail space with drive-thru available for sale or lease.
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      Retail Space Available For Sale

      Retail space with 1,732 SqFt available for purchase.
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      Retail Space For Sale

      Retail space available for purchase.
      204 NE 4Th St, Bend, OR 97701
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    • $699,000

      Bend Retail Space For Sale

      Flexible retail space with high visibility and accessibility in Bend.
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      Land For Sale

      Land available for sale.
      63205 Gibson Air Rd, Bend, OR 97701
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    Similar Nearby for Lease

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      1,384 SF

      Retail Space on Highway 20

      Retail suites with high visibility and traffic on Highway 20.
      62080-62090 NE Dean Swift Rd, Bend, OR 97701
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    • $30 SF/Yr
      45,205 SF

      Bend Executive Office Space

      Prime Bend location, multiple suites available.
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      Retail Space with Ample Parking

      Retail space with on-site parking and signage opportunities.
      2570 NE Twin Knolls Dr, Bend, OR 97701
      View Details
    • Contact for pricing

      Retail/Industrial Space For Rent

      Single tenant retail or industrial space available for lease.
      20784 High Desert Ln, 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
    • Contact for pricing

      New Industrial Space For Rent

      7,759 SF industrial space in South Brinson Business Park.
      20723 NE Brinson Blvd, Bend, OR 97701
      View Details
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    224 Thurston Ave
    Bend, OR 97701-3852
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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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    224 Thurston Ave, Bend, OR, 97701
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