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

    2940 Hwy 97 Bend, OR 97703-7510

    • Turn key restaurants
    • 5,106 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Feb 21, 2024
    Value Estimations
    $1,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0820388
    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

    • Deschutes Junction Pizza Grill Taphouse / Pizza Restaurant / Pizza Delivery

    Property Details for 2940 Hwy 97

    Year built
    1981
    Lot size
    0.31 lot acres
    Property size
    5,106 SF
    Property type
    Turn key restaurants
    APN
    171221 C0 04000
    APU
    171221C004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,749,000
      Market price range: $1.41M - $2.76M
      AI Estimate
      $1,749,000
      Market price range: $1.41M - $2.76M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,890,000
      Current use
      RETAIL STORES
      $2,060,000
      Change: +9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,950,000
      Change: +3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,950,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,780,000
      Change: -6% Conversion: Easy
      MEDICAL BUILDING
      $1,630,000
      Change: -14% Conversion: Difficult
      OFFICE BUILDING
      $1,590,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.304
    Latitude
    44.0796
    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
    $14,496
    $0.00
    $0.00
    $906,720
    -
    $427,120
    $1,260,220
    $1,687,340

    Comparable in this City

    • Value Estimation
      $2,460,000
      8,895 SF

      967 Brks St

      RESTAURANT • 8,895 SF
      967 Brks St, Bend, OR 97703-2029
      View Details
    • Value Estimation
      $1,800,000
      6,500 SF

      744 Bond St

      RESTAURANT • 6,500 SF
      744 Bond St, Bend, OR 97703-2749
      View Details
    • Value Estimation
      $840,000
      2,133 SF

      1404 Galveston Ave

      RESTAURANT • 2,133 SF
      1404 Galveston Ave, Bend, OR 97703-2438
      View Details
    • Value Estimation
      $1,065,000
      3,850 SF

      118 Greenwood Ave

      RESTAURANT • 3,850 SF
      118 Greenwood Ave, Bend, OR 97703-2005
      View Details
    • Value Estimation
      $7,585,000
      14,023 SF

      3105 O B Riley Rd

      RESTAURANT • 14,023 SF
      3105 O B Riley Rd, Bend, OR 97703-7523
      View Details
    • Value Estimation
      $1,435,000
      2,862 SF

      2755 Xing Dr

      RESTAURANT • 2,862 SF
      2755 Xing Dr, Bend, OR 97703-7050
      View Details

    Similar Nearby for Sale

    • $250,000
      Pending

      Thriving Bend Restaurant with Courtyard

      Turn-key restaurant with secret garden courtyard in downtown Bend.
      750 NW Lava Rd, Bend, OR 97703
      View Details
    • New
      $180,000

      Bend Bar/Restaurant Opportunity

      Established bar/restaurant with loyal clientele, indoor and outdoor seating.
      42 NW Greenwood Ave, Bend, OR 97703
      View Details
    • $2,500,000
      5,132 SF

      Bend IHOP: Redevelopment Opportunity

      Prime Bend location, 5,132 SF QSR, high traffic.
      30 Bend River Mall Dr, Bend, OR 97703
      View Details
    • $1,775,000
      Pending

      Prime Retail Site, Bend, Oregon

      1.2 acre retail site with highway exposure and access.
      3650 Highway 97 N, Bend, OR 97703
      View Details
    • $3,250,000
      0.46 Acres

      Mixed-Use Building in Downtown Tumalo

      New mixed-use building suitable for retail, office, and manufacturing.
      19885 7Th St, Bend, OR 97703
      View Details
    • New
      $699,000
      0.16 Acres

      Bend Mixed-Use Property For Sale

      Two-unit property near Downtown Bend, a blank canvas for reimagination.
      15 NW Franklin Ave, Bend, OR 97703
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      367,856 SF

      Cascade Village Shopping Center

      Bend, OR Retail Opportunity
      63455 Highway 97, Bend, OR 97703
      View Details
    • $30 SF/Yr
      4,896 SF

      Bend River Promenade Retail Spaces

      Prime Bend, OR retail space; multiple units available.
      3148 Highway 97, Bend, OR 97703
      View Details
    • $40 SF/Yr
      6,000 SF

      Pioneer Plaza Retail Space

      Bend, OR retail space: 1,500-6,000 sq ft.
      1474 Wall St, Bend, OR 97703
      View Details
    • $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
      View Details
    • Contact for pricing
      22,930 SF

      Gateway North Retail Center

      Bend, OR: Prime Retail Opportunity
      20319 Cooley Rd, Bend, OR 97703
      View Details
    • $17 SF/Yr
      7,000 SF

      Bend Retail Space - 7,000 SF

      High-visibility retail space available in Bend, Oregon.
      63011 Highway 97, Bend, OR 97703
      View Details
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    Bend, OR 97703-7510
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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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