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    Property profile & analytics

    391 Cascade Ave Sisters, OR 97759-1020

    This corner-lot building is located on the west end of Main Street in Sisters. The downtown commercial zoned property sits on two tax lots totaling approximately 7,000 square feet. The Cascade Avenue frontage benefits from significant daily traffic. The building features updates including smart locks, automated LED lighting, air conditioning, and an ADA-compliant bathroom. The open-span layout provides flexibility, along with private office space and ample storage. The property features a one-level design and is zoned for multiple uses.
    • Storefront properties
    • 1,408 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2022
    $635,000
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    5%
    Storefront properties
    Location Intelligence
    Property ID
    US71-0693166
    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

    • Storefront properties

    Property Details for 391 Cascade Ave

    Year built
    1950
    Lot size
    0.16 lot acres
    Property size
    1,408 SF
    Property type
    Storefront properties
    APN
    151009 BB 02100
    APU
    151009BB02100

    Property Overview

    This corner-lot building is located on the west end of Main Street in Sisters. The downtown commercial zoned property sits on two tax lots totaling approximately 7,000 square feet. The Cascade Avenue frontage benefits from significant daily traffic. The building features updates including smart locks, automated LED lighting, air conditioning, and an ADA-compliant bathroom. The open-span layout provides flexibility, along with private office space and ample storage. The property features a one-level design and is zoned for multiple uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $675,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $565,000
      6.5%
      $520,000
      7%
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $713,000
      Market price range: $297k - $713k
      AI Estimate
      $713,000
      Market price range: $297k - $713k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $485,000
      Current use
      AUTO REPAIR, GARAGE
      $540,000
      Change: +11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $525,000
      Change: +9% Conversion: Easy
      MEDICAL BUILDING
      $450,000
      Change: -7% Conversion: Difficult
      OFFICE BUILDING
      $415,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sisters
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.554
    Latitude
    44.2911
    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
    $4,333
    $0.00
    $0.00
    $261,500
    -
    $146,360
    $236,600
    $382,960

    Comparable in this City

    • Value Estimation by Request
      7,058 SF

      190 Cascade Ave

      STORE, RETAIL OUTLET • 7,058 SF
      190 Cascade Ave, Sisters, OR 97759-1069
      View Details
    • Value Estimation by Request
      2,736 SF

      150 Cascade Ave

      STORE, RETAIL OUTLET • 2,736 SF
      150 Cascade Ave, Sisters, OR 97759-1100
      View Details
    • Value Estimation by Request
      7,770 SF

      171 Elm St

      STORE, RETAIL OUTLET • 7,770 SF
      171 Elm St, Sisters, OR 97759-1070
      View Details
    • Value Estimation by Request
      2,104 SF

      182 Hood Ave

      STORE, RETAIL OUTLET • 2,104 SF
      182 Hood Ave, Sisters, OR 97759-1068
      View Details
    • Value Estimation by Request
      4,000 SF

      183 Hood Ave, Unit 1

      STORE, RETAIL OUTLET • 4,000 SF
      183 Hood Ave, Sisters, OR 97759-1550
      View Details
    • Value Estimation
      $415,000
      1,036 SF

      411 Hood Ave

      STORE, RETAIL OUTLET • 1,036 SF
      411 Hood Ave, Sisters, OR 97759-1130
      View Details

    Similar Nearby for Sale

    • $1,199,000
      0.30 Acres

      Commercial Building in Sisters, Oregon

      4,000 sq.ft. commercial building near downtown Sisters, Oregon.
      367 W Sisters Park Dr, Sisters, OR 97759
      View Details
    • $2,695,000
      3,384 SF

      Boutique Lodge in Sisters, Oregon

      Boutique lodge with 11 updated units in Sisters, Oregon.
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    • $399,990

      Profitable Pizzeria in Downtown Sisters

      Turnkey pizzeria with unmatched reputation and highway frontage in Sisters.
      220 W Cascade Ave, Sisters, OR 97759
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    • $295,000
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      Residential Lot in Buck Run

      Desirable creek front lot with mature pines near town.
      557 S Locust St, Sisters, OR 97759
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    • $925,000

      Commercial Land in Sisters, Oregon

      Flat, developable commercial land with road frontage on three sides.
      N Spruce St, Sisters, OR 97759
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    • $329,500
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      Downtown Sisters Commercial Corner Lot

      Prime commercial lot in downtown Sisters with high visibility.
      180 S Spruce St, Sisters, OR 97759
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      626 SF

      Office Space in Sisters, Oregon

      Office space available for lease in Sisters, Oregon.
      178 S Elm St, Sisters, OR 97759
      View Details
    • $14 SF/Yr
      6,000 SF

      Sisters Executive Office Space

      Prime Sisters location, 6,000 sq ft office.
      703 Larch St, Sisters, OR 97759
      View Details
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    Sisters, OR 97759-1020
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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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