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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2359 NE Division St Bend, OR 97703

    • Motels
    • 5,128 SF
    • 0.33 lot acres
    For Sale
    View listing
    $3,500,000
    Last Sale
    Dec 01, 2022
    $2,450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1794491
    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.

    Current Use by Public Records

    • Mt Bachelor Motel / Motel / Hotel
    • The Central Block Motel / Motel

    Property Details for 2359 NE Division St

    Year built
    1955
    Lot size
    0.33 lot acres
    Property size
    5,128 SF
    Property type
    Motels
    APN
    171229 AD 03900
    APU
    171229AD03900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,330,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,070,000
      AUTO REPAIR, GARAGE
      $1,960,000
      APARTMENT HOUSE (5+ UNITS)
      $1,955,000
      RESTAURANT
      $1,900,000
      COMMERCIAL (GENERAL)
      $1,785,000
      MEDICAL BUILDING
      $1,635,000
      OFFICE BUILDING
      $1,600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.306
    Latitude
    44.0733
    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
    $10,311
    $0.00
    $0.00
    $644,960
    -
    $469,750
    $687,080
    $1,156,830

    Comparable in this City

    • Value Estimation by Request
      10,324 SF

      1430 Wall St

      MOTEL • 10,324 SF
      1430 Wall St, Bend, OR 97703-1979
      View Details
    • Value Estimation by Request
      40,957 SF

      1626 Wall St

      MOTEL • 40,957 SF
      1626 Wall St, Bend, OR 97703-1981
      View Details
    • Value Estimation by Request
      39,324 SF

      62980 Hwy 97

      MOTEL • 39,324 SF
      62980 Hwy 97, Bend, OR 97703-5734
      View Details
    • Value Estimation by Request
      59,934 SF

      10 Minnesota Ave

      MOTEL • 59,934 SF
      10 Minnesota Ave, Bend, OR 97703-2796
      View Details
    • Value Estimation by Request
      78,189 SF

      1526 Wall St

      MOTEL • 78,189 SF
      1526 Wall St, Bend, OR 97703-1978
      View Details
    • Value Estimation
      $2,600,000
      8,895 SF

      2346 Division St

      MOTEL • 8,895 SF
      2346 Division St, Bend, OR 97703-3512
      View Details

    Similar Nearby for Sale

    • $3,500,000
      5,128 SF

      Renovated Motel in Bend, Oregon

      19-room motel in Bend, Oregon, renovated in 2024.
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      View Details
    • $12,900,000
      31,947 SF

      Bend Multifamily Reposition Project

      Recently renovated, high-demand studio apartments near downtown Bend.
      2320 NW Lakeside Pl, Bend, OR 97703
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    • $399,900

      Land with Mountain Views

      Land with territorial views, suitable for a dream home.
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    • $1,275,000
      2.52 Acres

      Skyline Ranch Residential Lot

      2.5-acre lot in Skyline Ranch with Cascade Mountain views.
      62947 Levins Ln, Bend, OR 97703
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    • $1,975,000
      0.32 Acres

      Downtown Bend Mixed-Use Land

      Prime .32-acre redevelopment site
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    • $16,800,000
      731,808 SF

      Bend Commercial Land - Huge Potential

      16.8 Acres, High-Visibility Location, Development Ready
      63672 O B Riley Rd, Bend, OR 97703
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    Similar Nearby for Lease

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      367,856 SF

      Cascade Village Shopping Center

      Bend, OR Retail Opportunity
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      4,896 SF

      Bend River Promenade Retail Spaces

      Prime Bend, OR retail space; multiple units available.
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    • $2 SF/Yr
      6,160 SF

      Adaptable Retail Space For Rent

      1,800 SF adaptable space ideal for various business types.
      1458 NW College Way, Bend, OR 97703
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    • $13 SF/Yr
      1,680 SF

      Bend Industrial Condo - 1680 SF

      Prime Bend location, 1680 sq ft warehouse condo.
      63075 Crusher Ave, Bend, OR 97703
      View Details
    • $14 SF/Yr
      26,400 SF

      Bend Warehouse - 26,400 SF

      Large Bend warehouse, flexible space available.
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      View Details
    • $36 SF/Yr
      5,937 SF

      Bend Executive Suites - Grove Location

      Modern Office Space, 3 Suites Available
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      View Details

    Property Visit Statistics

    • Visits by month
      613
    • Visitors by month
      831
    • Avg Time on site
      19 min
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    2359 NE Division St
    Bend, OR 97703
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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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