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

    646 Rimrock Way Redmond, OR 97756-1937

    • Medical offices
    • 2,030 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1361821
    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

    • Medical offices

    Property Details for 646 Rimrock Way

    Year built
    1980
    Lot size
    0.36 lot acres
    Property size
    2,030 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    151317 AD 00600
    APU
    151317AD00600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $656,000
      Market price range: $442k - $861k
      AI Estimate
      $656,000
      Market price range: $442k - $861k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $650,000
      Current use
      AUTO REPAIR, GARAGE
      $775,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $760,000
      Change: +17% Conversion: Easy
      RETAIL STORES
      $665,000
      Change: +2% Conversion: Difficult
      OFFICE BUILDING
      $555,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    Deschutes
    State
    Oregon
    Longitude
    -121.19
    Latitude
    44.2709
    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
    $6,258
    $0.00
    $0.00
    $315,300
    -
    $244,550
    $442,130
    $686,680

    Comparable in this City

    • Value Estimation
      $3,345,000
      11,419 SF

      1765 Pkwy Dr

      MEDICAL BUILDING • 11,419 SF
      1765 Pkwy Dr, Redmond, OR 97756-2550
      View Details
    • Value Estimation
      $2,545,000
      8,295 SF

      1315 4th St

      MEDICAL BUILDING • 8,295 SF
      1315 4th St, Redmond, OR 97756-1328
      View Details
    • Value Estimation
      $1,570,000
      6,000 SF

      1531 Canal Blvd

      MEDICAL BUILDING • 6,000 SF
      1531 Canal Blvd, Redmond, OR 97756-1341
      View Details
    • Value Estimation
      $2,630,000
      6,202 SF

      655 Jackpine Ave

      MEDICAL BUILDING • 6,202 SF
      655 Jackpine Ave, Redmond, OR 97756-1994
      View Details
    • Value Estimation by Request
      1,628 SF

      725 Kingwood Ave

      MEDICAL BUILDING • 1,628 SF
      725 Kingwood Ave, Redmond, OR 97756-1349
      View Details
    • Value Estimation by Request
      1.07 Acres

      1775 Umatilla Ave

      MEDICAL BUILDING • 1.07 Acres
      1775 Umatilla Ave, Redmond, OR 97756-7197
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,934 SF

      Summit ONP Medical Building

      Medical office building with clinical treatment rooms and ample parking.
      111 NW Larch Ave, 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
    • $850,000
      1.01 Acres

      Redmond Mixed-Use Development

      Shovel-ready, 12-unit potential.
      404 25Th St, Redmond, OR 97756
      View Details
    • $1,200,000
      4,040 SF

      Redmond Retail/Office Building For Sale

      Retail or office building with additional lot and rental income.
      1037 NW 6Th St, Redmond, OR 97756
      View Details
    • 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
    • $1,750,000
      2.38 Acres

      Redmond Commercial Property on Highway

      2.38 acre commercial property on Highway 97 in Redmond, Oregon.
      2285 Highway 97 S, Redmond, OR 97756
      View Details

    Similar Nearby for Lease

    • $2.00 SF/Yr
      28,565 SF

      Redmond Medical Office Space Available

      Class A medical office space in the heart of Redmond.
      865 SW Veterans Way, Redmond, OR 97756
      View Details
    • $12 SF/Yr
      77,260 SF

      Redmond Executive Office Space

      77,260 SF Office Building, Prime Location
      2999 6Th St, Redmond, OR 97756
      View Details
    • $1.80 SF/Yr
      81,022 SF

      Redmond Retail/Office Space Available

      Retail or office space for lease in Redmond, Oregon.
      1604 Highway 97 S, Redmond, OR 97756
      View Details
    • $1,100 /Mo
      10,454 SF

      Redmond Office Space For Rent

      Stand-alone office building with ample parking in a great location.
      1427 SW Highland Ave, Redmond, OR 97756
      View Details
    • $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
    • $1.15 SF/Yr
      20,393 SF

      Professional Office Building Near Airport

      Office building with elevator, parking, and keyless entry near airport.
      525 SW Umatilla Ave, Redmond, OR 97756
      View Details
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    646 Rimrock Way
    Redmond, OR 97756-1937
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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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