1404 3Rd StBend, OR 97701

Property Details for 1404 3Rd St

Year built

1979

Lot size

0.30 AC

Property size (Sq ft)

7,544 SF

Property type

Office buildings

APN

171233 BB 02900

APU

171233BB02900

Description

This 7,544 square foot, Class B retail/office building at 1404 NE Third Street in Bend, Oregon, presents a unique opportunity. Situated on a 0.3-acre lot, this two-story building, constructed in 1979 and renovated in 2022, offers multiple tenancy options with a minimum divisible space of 720 square feet and a maximum contiguous space of 720 square feet. The property boasts 24 total parking spaces, conveniently located both in front and rear of the building for client and tenant use. Access is available from both NE Third Street and Norton Street. The interior features a large reception area, two private rooms suitable for offices or treatment spaces, a smaller treatment or changing room, a wet bar, and an in-suite restroom. New flooring and paint enhance the updated space. The building is zoned CL and benefits from prominent signage opportunities, taking advantage of high traffic counts on Third Street. Note that there is no elevator. Available February 1, 2025.

• CAP approach

  CAP return

  Valuation

  6%

  $1,751,950

  6.5%

  $1,617,180

  7%

  $1,501,670

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,933,000

  Geo Method

  $1,933,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,071,900

  Retail / Commercial

  $1,597,170

  Mixed-Use / Specialty

  $1,608,750

  Hospitality / Lodging

  $1,202,770

  Institutional / Educational

  $1,678,620

  Residential Income

  $1,963,990

  Multifamily

  $2,259,760

  Automotive / Energy

  $1,438,820

  Parking / Income-Based Land

  $479,456

  Restaurant / Food Service

  $873,583

  Healthcare / Senior Housing

  $1,632,030

Location Insight

City

Bend

County

Deschutes

State

Oregon

Latitude

44.0642

Longitude

-121.302

CBSA code

13460

CBSA name

BEND, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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