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    3113 Highway 97 S Redmond, OR 97756

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    3113 Highway 97 S Redmond, OR 97756

    View on Map
    • Super regional malls
    • 11,076 SF
    • 0.86 lot acres
    For Lease
    $1.60 SF/Yr
    View Listing →
    Redmond Retail Space Available For Lease
    $1.60 SF/Yr
    4,700 SF

    Redmond Retail Space Available

    4,700 SF retail space for lease in Redmond, Oregon.

    3113 S Hwy 97, Redmond, OR
    View Listing
    Property ID
    US71-0453267
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 3113 Highway 97 S

    Year built
    2006
    Lot size
    0.86 lot acres
    Property size
    11,076 SF
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    151321 C0 02102
    APU
    151321C002102

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.188
    Latitude
    44.248
    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
    $22,004
    $0.00
    $0.00
    $1,108,700
    -
    $982,650
    $1,741,880
    $2,724,530

    Comparable in this City

    • Value Estimation
      $2,735,000
      3,536 SF

      845 17th St

      REGIONAL SHOPPING CENTER, MALL • 3,536 SF
      845 17th St, Redmond, OR 97756-2575
      View Details
    • Value Estimation
      $1,400,000
      6,336 SF

      655 Greenwood Ave

      REGIONAL SHOPPING CENTER, MALL • 6,336 SF
      655 Greenwood Ave, Redmond, OR 97756-1672
      View Details
    • Value Estimation by Request
      38,061 SF

      355 Oak Tree Ln

      REGIONAL SHOPPING CENTER, MALL • 38,061 SF
      355 Oak Tree Ln, Redmond, OR 97756-1867
      View Details
    • Value Estimation by Request
      11,244 SF

      1000 Indian Ave

      REGIONAL SHOPPING CENTER, MALL • 11,244 SF
      1000 Indian Ave, Redmond, OR 97756-3024
      View Details
    • Value Estimation by Request
      963 SF

      1033 Highland Ave

      REGIONAL SHOPPING CENTER, MALL • 963 SF
      1033 Highland Ave, Redmond, OR 97756-3127
      View Details
    • Value Estimation
      $4,100,000
      12,054 SF

      3039 Hwy 97

      WHOLESALE OUTLET, DISCOUNT STORE • 12,054 SF
      3039 Hwy 97, Redmond, OR 97756-8877
      View Details

    Similar Nearby for Sale

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      Redmond Commercial Asset For Sale

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      Tractor Supply Investment Property

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      Iconic Mixed-Use Building in Redmond

      Historic Redmond building with retail, office, and apartment units.
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    • $225,000

      Established Flower Shop in Redmond

      Profitable flower shop with loyal clientele and delivery routes.
      251 SW 6Th St, Redmond, OR 97756
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      3,328 SF

      Former Bank Branch with Drive-Thru

      Redmond retail property with drive-thru, ideal for owner-user.
      948 SW Veterans Way, Redmond, OR 97756
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    • Contact for pricing
      2,916 SF

      Redmond Retail Property for Sale

      Retail property available in Redmond, Oregon with 2916 square feet.
      614 NW Cedar Ave, Redmond, OR 97756
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    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Redmond Retail Space For Rent

      Retail space available in high-traffic Redmond trade area.
      2067 NW 6Th St, Redmond, OR 97756
      View Details
    • $1.25 SF/Yr

      Retail Space in Anchored Center

      Retail space in high-traffic center with national and regional tenants.
      1595 NE 3Rd St, Prineville, OR 97756
      View Details
    • Contact for pricing
      4,700 SF

      Redmond Retail Space Available

      4,700 SF retail space for lease in Redmond, Oregon.
      3113 Highway 97 S, Redmond, OR 97756
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space with Drive-Thru

      Retail space available for lease with drive-thru.
      1995 NW 6Th St, Redmond, OR 97756
      View Details
    • Contact for pricing

      Redmond Office/Retail Sublease Opportunity

      77,260 SF building in Redmond, OR, for sublease.
      2999 SW 6Th St, Redmond, OR 97756
      View Details
    • Contact for pricing
      17,000 SF

      Redmond Retail Space For Lease

      Retail space available for lease in high-traffic Redmond corridor.
      1921 NW 6Th St, Redmond, OR 97756
      View Details
    View Listing
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    3113 Highway 97 S
    Redmond, OR 97756
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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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