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Property profile & analytics
FOR LEASE
Office buildings

2999 SW 6Th St Redmond, OR 97756

78,071 SF 13.13 ac lot Built 2003
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US71-0569276
Property summary
AI-generated overview

This exceptional 77,260-square-foot executive office building, situated at 2999 SW 6th Street in Redmond, Oregon, presents a remarkable opportunity. The single-tenant property, built in 2003, sits on a spacious 13.13-acre lot and is zoned M1. Currently vacant, the building offers significant flexibility for a variety of commercial uses, previously configured as a call center. The property boasts approximately 150 parking spaces, providing ample convenience for employees and clients. Its strategic location offers easy access to Highway 97 and Redmond Airport, capitalizing on the area's robust growth and thriving community. Redmond's diverse economy and proximity to Bend make this an ideal location for businesses seeking to establish or expand their presence in the Pacific Northwest. The property's location in Deschutes County, Oregon, zip code 97756, provides access to a strong workforce and a desirable lifestyle. This presents a long-term opportunity, with a sublease term expiring July 31, 2029. The building's size and location make it an attractive option for businesses seeking a significant footprint in a dynamic market. This is a rare opportunity to secure a substantial, well-located commercial property in a rapidly growing area.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2003
Total area 78,071 SF
Lot 13.13 ac (571,943 SF)
APN 151321 D0 00332
UPID US71-0569276
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$25.96M
Blend (final) Blend
$25.96M
Owner & transaction history
Madrona Redmond LLC · 6 yrs held
Madrona Redmond LLC
since 2019
6 recorded transactions
2019
Price N/A
2019
Price N/A
2019
$12.1M
2004
$16.4M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $29.8M +39.8%
Apartment house (5+ units) $29.8M +39.6%
Commercial (general) $29.2M +36.9%
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