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

    460 Hemlock Ave Redmond, OR 97756-1465

    • Warehouses
    • 12,375 SF
    • 0.91 lot acres
    OFF-MARKET
    Last Sale
    Mar 15, 2024
    $1,150,000
    Value Estimations
    $1,155,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1763639
    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 460 Hemlock Ave

    Year built
    2000
    Lot size
    0.91 lot acres
    Property size
    12,375 SF
    Property type
    Warehouses
    APN
    151310 CB 00100
    APU
    151310CB00100

    Description

    This exceptional 1,375-square-foot industrial suite is available for lease in Redmond, Oregon, at a monthly rate of $2,250, plus utilities. Located at 460 NE Hemlock Ave, 97756, this single-tenant space is part of a larger 12,375-square-foot building situated on a 0.9-acre lot. The property boasts a convenient location near Highway 97, offering excellent access for distribution and service businesses. The suite features a 15-foot ceiling height, a 14-foot roll-up door, and three-phase power, making it ideal for various light industrial, warehousing, and manufacturing uses. Additional benefits include a small office area and some outdoor storage space. The building is fully sprinklered and zoned for light and heavy industrial use. The property's APN is 129798. This space is part of a well-established building with diverse and complementary tenants, including an HVAC company, a restoration business, and a food production service company. This creates a synergistic environment for businesses seeking a productive and collaborative workspace. The property offers a rare opportunity to secure a well-appointed industrial space in a prime Redmond location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,150,000
      ML approach
      $1,150,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,163,000
      Market price range: $893k - $2.98M
      AI Estimate
      $1,163,000
      Market price range: $893k - $2.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.164
    Latitude
    44.2833
    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
    $9,417
    $0.00
    $0.00
    $474,490
    -
    $133,910
    $672,410
    $806,320

    Comparable in this City

    • Value Estimation by Request
      16,440 SF

      334 Timber Ave

      WAREHOUSE, STORAGE • 16,440 SF
      334 Timber Ave, Redmond, OR 97756-7293
      View Details
    • Value Estimation by Request
      13,230 SF

      2305 Yew Ct

      MINI-WAREHOUSE, STORAGE • 13,230 SF
      2305 Yew Ct, Redmond, OR 97756-7264
      View Details
    • Value Estimation by Request
      27,300 SF

      630 1st St

      WAREHOUSE, STORAGE • 27,300 SF
      630 1st St, Redmond, OR 97756
      View Details
    • Value Estimation by Request
      5,400 SF

      2100 Badger Ave

      MINI-WAREHOUSE, STORAGE • 5,400 SF
      2100 Badger Ave, Redmond, OR 97756-6989
      View Details
    • Value Estimation by Request
      24,229 SF

      394 Hemlock Ave

      WAREHOUSE, STORAGE • 24,229 SF
      394 Hemlock Ave, Redmond, OR 97756-1429
      View Details
    • Value Estimation by Request
      11,800 SF

      300 Kilnwood Pl

      MINI-WAREHOUSE, STORAGE • 11,800 SF
      300 Kilnwood Pl, Redmond, OR 97756-7791
      View Details

    Similar Nearby for Sale

    • $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
      View Details
    • $825,000
      0.19 Acres

      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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    • Contact for pricing
      19.80 Acres

      Redmond Industrial Land For Sale

      19.8 Acres, Prime Location, Light Industrial
      1050 Antler Ave, Redmond, OR 97756
      View Details
    • $525,000
      1,490 SF

      Downtown Redmond Commercial Building

      Prime Location, 1490 sq ft, High Visibility
      336 7Th St, Redmond, OR 97756
      View Details
    • $2,750,000
      3,328 SF

      Redmond Creative Office - $2.75M

      Prime Redmond location, vacant creative office space.
      948 Veterans Way, Redmond, OR 97756
      View Details
    • $900,000
      0.75 Acres

      Redmond Commercial Land - Hwy 97

      High-traffic retail land, 0.75 acres.
      3231 Highway 97, 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
    • New
      $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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    460 Hemlock Ave
    Redmond, OR 97756-1465
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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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