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DescriptionThis is an excellent opportunity to acquire a high-quality retail building in the heart of Bend. The location cannot be beat with great visibility and access from business highway 97/third street. The property is located in the middle of one of the major shopping areas of Bend.
The property brings in a high volume of shoppers and is anchored by the Boot Barn and Absolute Horse.
This is an opportunity to buy a very high-quality building below replacement costs. Value at the listing price is $124.12 per square foot. The building has many upgrades with extensive wood accents inside and out, cinder block construction, rock trim and a metal roof. It also has substantial parking with 162 spots on-site and additional street parking available.
The building value is based on current rental rates and net income. With rents for the entire building averaging well below market rates this gives a buyer tremendous upside potential in value by bringing rents closer to market rates over time.