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Property profile & analytics
OFF-MARKET
Estimated value
$2,635,000
Office buildings
2796 Clearwater Dr, Bend, OR 97703-7008
Entity Owned
~
Est. High Equity
Property ID
US71-0830492
Property summary
AI-generated overview
This exceptional 8,573 square foot commercial property, situated on a 0.49-acre lot in Bend, Oregon, presents a compelling owner-user or investment opportunity. Built in 2005, the building boasts a desirable Mixed Employment (ME) zoning designation, allowing for diverse uses. The property features a blend of open and private office spaces, ideal for a variety of businesses. A significant advantage is the inclusion of 30 parking spaces, including two handicap-accessible spots. The building's prime location at the corner of Clearwater Drive and Charbonneau Street offers excellent visibility and accessibility. Enjoy breathtaking mountain views from the rooftop deck. The property is conveniently located near a variety of shops and restaurants. Currently, Suite A (1,645 square feet) is leased to NLC Energy until September 30, 2025. Suite B (6,928 square feet) is available for immediate lease, providing additional income potential for investors. The asking price is $3,000,000, translating to $349.94 per square foot. This property offers a unique combination of location, amenities, and income potential, making it an attractive investment in the thriving Bend market. The address is 2796 NW Clearwater Dr, Bend, OR 97703, within Deschutes County.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
8,573 SF
Lot
0.49 ac (21,344 SF)
APN
171136 CA 01000
UPID
US71-0830492
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
-
American Licorice Co Industrial Manufacturer Production Facility
-
Farewell Bend Concrete Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$2.64M
Owner & transaction history
Cold Cuts LLC
Cold Cuts LLC
since 2025
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.5M
+29.5%
Auto repair, garage
$3.3M
+22.6%
Apartment house (5+ units)
$3.3M
+22.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,675,000
Current use
RETAIL STORES
$3,465,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,275,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,270,000
Change: +22% · Conversion: Easy
RESTAURANT
$3,175,000
Change: +19% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,985,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$2,735,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$2.64M
Range $2.37M – $2.90M · ±10% · vs last sale $2.88M (Jun 3 2025)
Last sale anchor
$2.88M
Jun 3 2025
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
$307 / 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
$20,959
Tax year 2023
Assessed value
$1,311,040
Assessed 2023
Previous assessed
$1,235,790
+6.1% YoY
Effective rate
1.60%
On assessed value
Land market value
$654,660
Improvement market value
$2,053,020
Total market value
$2,707,680
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
NONE
Buildings
2
Total area
8,573 SF
Lot
0.49 ac (21,344 SF)
APN
171136 CA 01000
UPID
US71-0830492
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
OFFICE BUILDING Current
Est. value
$2.7M
RETAIL STORES
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
RESTAURANT
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.7M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL 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
2005
Heating
NONE
Buildings
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
Cold Cuts LLC
Entity
Mailing address
1400 NW PUTNAM RD, BEND, OR 97703-5936
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2025
$2,875,000
Cold Cuts LLC
Third Division Properties LLC
Warranty Deed
$3,086,500 · Washington Trust Bank
Oct 21, 2019
—
Third Division Properties LLC
—
Deed
related
$781,107 · Wells Fargo Bk
Jul 18, 2014
$1,650,000
Third Division Properties LLC
American Licorice Company
Warranty Deed
$900,000 · Wells Fargo Bank NA
Jun 8, 2010
$1,859,578
American Licorice Co
Jg Partners LLC
Warranty Deed
—
Mar 1, 2005
$253,965
Jg Partners LLC
American Licorice
Warranty Deed
—
—
—
Third Division Properties LLC
—
Loan Modification
related
$781,107 · Wells Fargo Bk
—
—
Jg Partners LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of America
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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