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    Property profile & analytics

    438 Irving Ave Bend, OR 97701-4733

    • Medical offices
    • 1,521 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0819198
    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

    • Will Dennis / Law Firm
    • Oregon Legacy Law LLC / Law Firm

    Property Details for 438 Irving Ave

    Year built
    1954
    Lot size
    0.15 lot acres
    Property size
    1,521 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    171233 BC 08600
    APU
    171233BC08600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $644,000
      Market price range: $331k - $645k
      AI Estimate
      $644,000
      Market price range: $331k - $645k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $485,000
      Current use
      RETAIL STORES
      $615,000
      Change: +27% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $580,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $530,000
      Change: +9% Conversion: Easy
      OFFICE BUILDING
      $480,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.3
    Latitude
    44.0592
    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
    $3,535
    $0.00
    $0.00
    $486,250
    -
    $405,960
    $617,740
    $1,023,700

    Comparable in this City

    • Value Estimation by Request
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      MEDICAL BUILDING • 144,000 SF
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    • Value Estimation
      $2,885,000
      9,392 SF

      2546 Conners Ave Ste, Unit 100

      MEDICAL BUILDING • 9,392 SF
      2546 Conners Ave Ste, Bend, OR 97701-6761
      View Details
    • Value Estimation
      $1,165,000
      2,744 SF

      1102 4th St

      MEDICAL BUILDING • 2,744 SF
      1102 4th St, Bend, OR 97701-4533
      View Details
    • Value Estimation
      $1,355,000
      4,522 SF

      502 4th St

      MEDICAL BUILDING • 4,522 SF
      502 4th St, Bend, OR 97701-4954
      View Details
    • Value Estimation
      $1,275,000
      3,891 SF

      2088 Kim Ln

      MEDICAL BUILDING • 3,891 SF
      2088 Kim Ln, Bend, OR 97701-6588
      View Details
    • Value Estimation
      $31,410,000
      74,094 SF

      1342 Medical Ctr Dr

      MEDICAL BUILDING • 74,094 SF
      1342 Medical Ctr Dr, Bend, OR 97701-5918
      View Details

    Similar Nearby for Sale

    • $2,012,472
      1.32 Acres

      Bend Medical District Land - 1.32 Acres

      Prime Medical Land, Ready to Build
      0 Watt Way, Bend, OR 97701
      View Details
    • $977,100
      3,068 SF

      Bend Medical/Office Building For Sale

      Split-level medical/office building with dedicated parking in Bend, Oregon.
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    • $2,750,000
      8,295 SF

      Bend Office/Retail Space - $2.75M

      Prime Bend location, 8,295 SF, drive-thru available.
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      View Details
    • $475,000
      3,600 SF

      Bend Airport Hangar For Sale

      Well-maintained hangar at Bend Municipal Airport with subleased land.
      63205 Gibson Air Rd, Bend, OR 97701
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    • $2,750,000
      Pending

      Residential Development Land in Bend

      Approved residential development land near upcoming Pahlisch development.
      21620 NE Butler Market Rd, Bend, OR 97701
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    • Contact for pricing
      10.00 Acres

      Acreage Near BLM Land

      10 acres near Bend, Oregon, bordering BLM land.
      Fort Rock Rd, Bend, OR 97701
      View Details

    Similar Nearby for Lease

    • $39 SF/Yr
      6,416 SF

      Bend Medical Office Space for Lease

      Class A Medical Office Suites Available
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      View Details
    • $19 SF/Yr
      968 SF

      Bend Medical Office Space Available

      Prime Bend location, 1,719 SF vacant.
      62968 O B Riley Rd, Bend, OR 97701
      View Details
    • Contact for pricing
      16,694 SF

      Medical Office Space Available

      Built-out medical office space near St. Charles Hospital.
      1303 NE Cushing Dr, Bend, OR 97701
      View Details
    • Contact for pricing
      9,500 SF

      Bend Office and Warehouse Space

      Office and warehouse space with Bio Sensor Level 2 Lab.
      20300 Empire Ave, Bend, OR 97701
      View Details
    • $1.70 SF/Yr
      387 SF

      Downtown Bend Office Space Available

      Unique office suite in downtown Bend with dedicated parking.
      835 NW Bond St, Bend, OR 97701
      View Details
    • Contact for pricing
      13,655 SF

      Bend Executive Office Suites

      Prime Bend Office Space Available
      150 Hawthorne Ave, Bend, OR 97701
      View Details
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    438 Irving Ave
    Bend, OR 97701-4733
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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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