Perfect For An Owner/User

For Sale:

HERE IS A GREAT OPPORTUNITY FOR AN OWNER/USER! Two buildings (11,524 sf total building space) sit on 40,000 sf of land on the west side of Division Street.  NNN lease. Front retail building vacant (6,092sf). Current tenant could be willing to negotiate sublease for party interested in moving in prior to April. Additional 1,470sf of warehouse space to become available for lease April 2008 (also currently leased by front retail tenant). Fitness facility in back building has five years remaining on lease with an option to renew.

Zoning allows for a maximum building height of 55' which would provide fantastic visibility from both directions of the Parkway in a recently rediscovered commercial neighborhood located just north of downtown Bend.

A multitude of uses exist with this property.

Asking price is based on a 6% Cap Rate for the two existing leases. A 5% vacancy & credit loss along with an additional 3% hold-back for reserves & replacement have also been incorporated into the asking price.

The following four CL zoned tax lots are involved with this sale (171229 DD 02200, 171229 DD 02300, 171229 DD 02400, 171229 DD 02700).

Property is located near the intersection of Revere and Division, and just north of the entrance to the Bend Parkway.

Property Type: Income & Investment
Sale Price: $1,985,383
CAP Rate: 6.0%
Building SQ FT: 11,524 SF (two buildings)
Lot Size: 0.92
Zoning: CL - Commercial Limited
Available: Jan 23, 2008

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Contact:

Ryan Oliver |  email me  | 541-312-6882

Dustin McCord |  email me  | 541-312-6886