405 6th St Redmond, OR 97756-2204
Property profile & analytics
405 6th St, Redmond, OR 97756-2204
- Office buildings
- 10,000 SF
- 0.23 lot acres
Property ID
US71-0635943
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.
Location Intelligence
Current Use by Public Records
- Office buildings
Property Details for 405 6th St
- Year built
- 1917
- Lot size
- 0.23 lot acres
- Property type
- Office buildings
- APN
- 151316 AB 11000
- APU
- 151316AB11000
Description
This exceptional Class A retail property, located at 405 SW 6th St in Redmond, Oregon, presents a unique investment opportunity for both owner-users and investors. Boasting 10,000 square feet of net rentable space across a single-story building, this iconic structure, built in phases between 1917 and 1923 and extensively renovated in 2003, offers a prime location in the heart of downtown Redmond's revitalized core. The property features a fully refurbished HVAC system, roof, and fixtures, ensuring modern functionality within its historic charm. Its versatile layout, including high ceilings, multiple access points (two on Sixth Street and two from the alley), centrally located restrooms and kitchen areas, and a finished basement, allows for diverse uses such as office, entertainment, restaurant, retail, or service businesses. The building benefits from a significant advantage: a dedicated 22-stall parking lot directly adjacent, supplemented by a nearby city-owned lot. This prime corner location at the intersection of Deschutes Avenue and Sixth Street places the property within the most vibrant and walkable section of downtown, benefiting from the recent surge in new restaurants, retail establishments, and a renovated boutique hotel. A leaseback option is available, providing a buyer with immediate income while transitioning to a new use. The property sits on a 20,000 square foot lot and is zoned for commercial use. This is a rare opportunity to acquire a landmark property in a thriving Oregon city. The asking price is $2,750,000, translating to $275 per square foot. The current occupancy is 100%, with the lease expiring January 1st, 2025.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,525,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,555,000
- 6.5%
- $2,355,000
- 7%
- $2,190,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,904,000
- AI Estimate
- $1,904,000
Market price range: $1.90M - $3.49MMarket price range: $1.90M - $3.49M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $2,735,000 Current use
- AUTO REPAIR, GARAGE
- $3,820,000 Change: +40% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $3,815,000 Change: +40% Conversion: Easy
- COMMERCIAL (GENERAL)
- $3,740,000 Change: +37% Conversion: Easy
- RESTAURANT
- $3,705,000 Change: +36% Conversion: Moderate
- RETAIL STORES
- $3,265,000 Change: +20% Conversion: Moderate
- MEDICAL BUILDING
- $3,190,000 Change: +17% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Redmond
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.175
- Latitude
- 44.2734
- 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
$0.00
$0.00
$0.00
$347,410
-
$320,000
$1,324,460
$1,644,460
