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

    3625 Highway 97 N Redmond, OR 97756

    • Warehouses
    • 1,800 SF
    • 1.68 lot acres
    For Sale
    View listing
    $900,000
    Last Sale
    Jun 29, 2022
    $140,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1880615
    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

    • Warehouses

    Property Details for 3625 Highway 97 N

    Year built
    2004
    Lot size
    1.68 lot acres
    Property size
    1,800 SF
    Property type
    Warehouses
    APN
    141333 00 02001
    APU
    1413330002001

    Description

    This exceptional 1.68-acre commercial property at 3625 N Highway 97 in Redmond, Oregon, presents a unique investment opportunity. The property boasts a prime location at the city's Urban Growth Boundary, offering significant development potential. Currently, the site includes a 1,800 square foot cinder block warehouse, a 768 square foot two-bedroom, one-bathroom residence, and a 600 square foot well house equipped with a new well pump. The level lot provides ample space for expansion or redevelopment. Its strategic position benefits from high visibility and convenient access to Highway 97, with existing curb cuts ensuring easy ingress and egress. The property's proximity to the intersection of O'Neil Highway further enhances its accessibility and desirability. Noteworthy is the surrounding development, including new residential construction to the west and south, and the planned construction of a new Redmond Police Department complex directly southeast across Highway 97 in 2024. This location offers excellent exposure and potential for significant future appreciation. The total building square footage is 3,168 square feet. This versatile property is priced at $1,250,000 and is ideal for a variety of commercial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.174
    Latitude
    44.3093
    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
    $2,129
    $0.00
    $0.00
    $130,220
    -
    $188,740
    $176,570
    $365,310

    Comparable in this City

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      $4,375,000
      28,814 SF

      3635 Airport Way

      WAREHOUSE, STORAGE • 28,814 SF
      3635 Airport Way, Redmond, OR 97756-8623
      View Details
    • Value Estimation
      $1,345,000
      5,600 SF

      1675 Pershall Way

      WAREHOUSE, STORAGE • 5,600 SF
      1675 Pershall Way, Redmond, OR 97756
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    • Value Estimation
      $4,405,000
      25,000 SF

      205 Timber Ave

      WAREHOUSE, STORAGE • 25,000 SF
      205 Timber Ave, Redmond, OR 97756-8405
      View Details
    • Value Estimation
      $4,675,000
      19,440 SF

      3001 Canal Blvd

      MINI-WAREHOUSE, STORAGE • 19,440 SF
      3001 Canal Blvd, Redmond, OR 97756-9706
      View Details
    • Value Estimation
      $1,805,000
      7,500 SF

      1532 Hwy 97

      WAREHOUSE, STORAGE • 7,500 SF
      1532 Hwy 97, Redmond, OR 97756-8865
      View Details
    • Value Estimation
      $820,000
      4,129 SF

      3199 Hwy 97

      WAREHOUSE, STORAGE • 4,129 SF
      3199 Hwy 97, Redmond, OR 97756-1232
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19.80 Acres

      Redmond Industrial Land For Sale

      19.8 Acres, Prime Location, Light Industrial
      1050 Antler Ave, Redmond, OR 97756
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    • $1,400,000
      4.07 Acres

      Redmond Industrial Land For Sale

      Vacant lot with heavy industrial zoning in Redmond, Oregon.
      1005 NE Hemlock Ave, Redmond, OR 97756
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    • $825,000
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      Redmond Industrial Mixed-Use Building

      Industrial building with mixed-use zoning, ideal for owner/user.
      407 SE Warsaw St, Redmond, OR 97756
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    • $1,750,000
      2.38 Acres

      Redmond Commercial Property on Highway

      2.38 acre commercial property on Highway 97 in Redmond, Oregon.
      2285 Highway 97 S, Redmond, OR 97756
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    • $1,500,000
      70.09 Acres

      70 Acres Irrigated Land, Redmond

      70 acres of flood-irrigated land ideal for agriculture/ranching.
      0000 NE 33Rd St, Redmond, OR 97756
      View Details
    • $695,000
      18.73 Acres

      Redmond, Oregon Residential Lots

      Two 20-acre parcels in West Redmond with irrigation water rights.
      510 SW 67Th St, Redmond, OR 97756
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      33,725 SF

      Redmond Warehouse: Sublease Opportunity

      Prime 33,725 SF Warehouse Sublease
      1266 Lake Rd, Redmond, OR 97756
      View Details
    • New
      $1.00 SF/Yr
      56,628 SF

      Redmond Light Industrial Flex Space

      New industrial building with office and warehouse space for lease.
      2450 SW 6Th St, Redmond, OR 97756
      View Details
    • $13 SF/Yr
      39,982 SF

      Redmond Industrial Flex Space

      Modern Flex Space, Ideal Location
      2121 Deerhound Ave, Redmond, OR 97756
      View Details
    • $12 SF/Yr
      2,280 SF

      Redmond Industrial Space Available

      Modern 2,280 SF Industrial Suite
      611 Jackpine Ct, Redmond, OR 97756
      View Details
    • $0.75 SF/Yr
      152,460 SF

      Redmond Industrial Site with Warehouses

      3.5-acre industrial site with warehouses, repair shop, and offices.
      330 SE Evergreen Ave, Redmond, OR 97756
      View Details
    • $1.75 SF/Yr
      62,726 SF

      Redmond Flex Commercial Spaces

      Two flex spaces in rapidly expanding NW Redmond. Completion mid-2026.
      2450 NW 7Th St, Redmond, OR 97756
      View Details
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    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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