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

    61400 Hwy 97 Bend, OR 97702-2113

    • Office buildings
    • 5,760 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2020
    $1,000,000
    Value Estimations
    $1,210,000
    Show details
    Cap Rate Potential
    8.1%
    Office buildings
    Location Intelligence
    Property ID
    US71-0995428
    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

    • Just Joe's Music / Musical Instrument Store / Musical Instrument Rental Service
    • Jazz at Joe's Mood Indigo / Jazz Club
    • Just Joe's Sax Gel Strap / Novelty Store
    • Bend Spa & Hearth / Hot Tub Store

    Property Details for 61400 Hwy 97

    Year built
    1977
    Lot size
    0.73 lot acres
    Property size
    5,760 SF
    Property type
    Office buildings
    APN
    181208 AC 00901
    APU
    181208AC00901

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,470,000
      6.5%
      $1,355,000
      7%
      $1,260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,329,000
      Market price range: $1.33M - $2.42M
      AI Estimate
      $1,329,000
      Market price range: $1.33M - $2.42M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bend
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.311
    Latitude
    44.03
    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
    $7,806
    $0.00
    $0.00
    $488,300
    -
    $1,116,360
    $196,670
    $1,313,030

    Comparable in this City

    • Value Estimation by Request
      5,909 SF

      595 Blf Dr

      OFFICE BUILDING • 5,909 SF
      595 Blf Dr, Bend, OR 97702-1282
      View Details
    • Value Estimation by Request
      20,110 SF

      705 Bonnett Way

      OFFICE BUILDING • 20,110 SF
      705 Bonnett Way, Bend, OR 97702-1046
      View Details
    • Value Estimation by Request
      21,150 SF

      600 Columbia St

      OFFICE BUILDING • 21,150 SF
      600 Columbia St, Bend, OR 97702-1099
      View Details
    • Value Estimation by Request
      23,100 SF

      775 Bonnett Way Ste, Unit 100

      OFFICE BUILDING • 23,100 SF
      775 Bonnett Way Ste, Bend, OR 97702-2080
      View Details
    • Value Estimation by Request
      12,830 SF

      336 Cyber Dr

      OFFICE BUILDING • 12,830 SF
      336 Cyber Dr, Bend, OR 97702-1683
      View Details
    • Value Estimation by Request
      945 SF

      235 Davis Ave

      OFFICE BUILDING • 945 SF
      235 Davis Ave, Bend, OR 97702-1333
      View Details

    Similar Nearby for Sale

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      27,998 SF

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    • $3,900,000
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      Bend Office Building For Sale

      Office building with high visibility and established tenants for sale.
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    • $9,518,160
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      Westside Property: Development Opportunity

      Westside property ideal for owner/user, investment, or future development.
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    • $6,000,000
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      Westside Property: Development Opportunity

      Westside property ideal for owner/user, investment, or future development.
      95 SW Columbia St, Bend, OR 97702
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    • $5,950,000
      17,000 SF

      Bend Office Building Investment

      Prime Bend location, 100% occupied, strong cash flow.
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    • $2,250,000
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      Bend Executive Office Building

      Prime Bend location, 8,561 SF office space.
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    Similar Nearby for Lease

    • $21 SF/Yr
      17,000 SF

      Bend Office Suite - Prime Location

      4,133 SF Office Space Available in Bend, OR
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    • $2 SF/Yr
      5,894 SF

      Westside Bend Medical Office Space

      Sublease medical office space near OSU Cascades through 2027.
      1715 SW Chandler Ave, Bend, OR 97702
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    • $11 SF/Yr
      1,800 SF

      Bend Office Space: 1,800 SF Available

      Prime Bend location, 1,800 sq ft office space for lease.
      235 Yew Ln, Bend, OR 97702
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    • $27 SF/Yr
      3,255 SF

      Vision Plaza Office Suites in Bend, OR

      Class A Office Space, Bend, Oregon
      404 Columbia St, Bend, OR 97702
      View Details
    • $22 SF/Yr
      2,651 SF

      Bend Executive Office Space for Lease

      Prime Bend Office, Riverfront Views, 2651 SF
      233 Wilson Ave, Bend, OR 97702
      View Details
    • $21 SF/Yr
      88,229 SF

      Bond Street Creative Office Space

      Class A Office, Bend, OR - Multiple Suites Available
      360 Bond St, Bend, OR 97702
      View Details
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    61400 Hwy 97
    Bend, OR 97702-2113
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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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