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Property profile & analytics
FOR SALE
Motels
2359 NE Division St, Bend, OR 97703
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-1794491
For Sale
1 / 22
$3,500,000
2359 NE Division St, Bend, OR 97703
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1955
Total area
5,128 SF
Lot
0.33 ac (14,375 SF)
APN
171229 AD 03900
UPID
US71-1794491
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mt Bachelor Motel Hotel & Motel
-
The Central Block Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.41M
Owner & transaction history
Reitan Re Holdings LLC · 3 yrs held
Reitan Re Holdings LLC
since 2022
Last sale
$2.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bend submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,330,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,070,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,960,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,955,000
Change: 0% · Conversion: Difficult
RESTAURANT
$1,900,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,785,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,635,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,600,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.41M
Range $2.17M – $2.65M · ±10% · vs last sale $2.45M (Dec 1 2022)
Last sale anchor
$2.45M
Dec 1 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$470 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,311
Tax year 2023
Assessed value
$644,960
Assessed 2023
Previous assessed
$607,950
+6.1% YoY
Effective rate
1.60%
On assessed value
Land market value
$469,750
Improvement market value
$687,080
Total market value
$1,156,830
Applied tax rate
1,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
For Sale
Year built
1955
Heating
NONE
Total area
5,128 SF
Lot
0.33 ac (14,375 SF)
APN
171229 AD 03900
UPID
US71-1794491
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RESTAURANT
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1955
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Reitan Re Holdings LLC
Entity
Mailing address
249 LIBERTY ST NESTE100, SALEM, OR 97301-3503
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2023
—
Reitan Re Holding LLC
—
Deed
related
$275,000 · Aa Apex Buildings LLC
Dec 1, 2022
$2,450,000
Reitan Re Holdings LLC
William H Noel
Warranty Deed
$3,060,000 · Pacwest Funding INC
Oct 17, 2018
$595,000
Noel,william H 2011 Trust
Portland Hospitality Invs LLC
Warranty Deed
—
Apr 18, 2018
—
Portland Hospitality Investments Ll
—
Deed
related
$300,000 · Evergreen Fsla
Apr 8, 2008
$460,000
Portland Hospitality Invs LLC
Kissane,joyce N
Warranty Deed
$310,000 · Patel Loan
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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