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Property profile & analytics
FOR SALE
Office buildings
650 SW Columbia St, Bend, OR 97702
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US71-0669850
For Sale
1 / 4
$8,225,000
650 SW Columbia St, Bend, OR 97702
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
27,998 SF
Lot
1.28 ac (55,757 SF)
APN
181205 B0 01800
UPID
US71-0669850
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
OSU-Cascades Graduate Research Center University
-
OSU-Cascades Innovation Co-Lab Non-Profit Organization Research And Product Development
-
3 Peaks Nutrition Physician
-
The Gunter Group Business Management Consultant
-
fsboHandshake Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.46M
Blend (final)
Blend
$6.47M
Owner & transaction history
Oregon State University Foun · 14 yrs held
Oregon State University Foun
since 2011
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.7M
+20.9%
Apartment house (5+ units)
$10.7M
+20.7%
Restaurant
$10.4M
+17.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bend submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,850,000
Current use
AUTO REPAIR, GARAGE
$10,700,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,685,000
Change: +21% · Conversion: Easy
RESTAURANT
$10,375,000
Change: +17% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,745,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$8,935,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$6.47M
Range $5.82M – $7.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$231 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$67,710
Assessed 2023
Previous assessed
$63,830
+6.1% YoY
Land market value
$5,583,120
Improvement market value
$6,917,340
Total market value
$12,500,460
Applied tax rate
1,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1997
Heating
NONE
Total area
27,998 SF
Lot
1.28 ac (55,757 SF)
APN
181205 B0 01800
UPID
US71-0669850
Jurisdiction
DESCHUTES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$10.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
RESTAURANT
Est. value
$10.4M
COMMERCIAL (GENERAL)
Est. value
$9.7M
MEDICAL BUILDING
Est. value
$8.9M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
NONE
Lot
1.28 ac
Current owner
From public records · entity-resolved
Oregon State University Foun
Individual
Mailing address
1500 SW CHANDLER AVE, BEND, OR 97702-3237
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2011
$700,000
Oregon State University Foun
Oregon St Univ & Its Cascades
Warranty Deed
—
Oct 28, 2011
$3,876,000
Oregon St Univ & Cascades Camp
Deschutes Properties LLC
Warranty Deed
—
Nov 22, 2010
—
Deschutes Properties LLC
Bonnett Properties LLC
Quit Claim Deed
related
—
Dec 15, 2008
—
Millpoint 6000 LLC
Bonnett Properties LLC
Quit Claim Deed
related
—
Mar 11, 2004
—
Bonnett Properties LLC
—
Deed Of Trust
related
$4,553,810 · Bank Of The Cascades
—
—
Deschutes Properties LLC
—
Deed Of Trust
related
—
—
—
Deschutes Properties LLC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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