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Spectrum Bldg 354 NE Greenwood Ave 14,900 SF 98% Leased Office Building Bend, OR 97701 $3,125,000 ($209.73/SF) 6.07% Cap Rate
Investment Highlights
- 31-Suite Multi-Tenant Professional Office Building with approximately 14,900 SF and 34 on-site parking spaces in the heart of Bend.
- Excellent Midtown Bend location on Greenwood Avenue with one remaining suite available for lease, offering immediate income growth potential.
- Established investment property featuring a diverse mix of professional, medical, wellness, counseling, and service-oriented tenants.
Executive Summary
The Spectrum Professional Building is a well-maintained, 31-suite, multi-tenant office investment located in one of Bend's most established commercial corridors. Offering approximately 14,900 square feet on 0.48 acres, the property serves a diverse mix of professional office, wellness, counseling, medical, and service-oriented tenants.
The building features 34 on-site parking spaces, updated common areas, a shared conference room, and flexible suite sizes that appeal to a broad range of businesses. Its central location along Greenwood Avenue provides excellent visibility and convenient access to Downtown Bend, Highway 97, St. Charles Medical Center, restaurants, shopping, and surrounding commercial services.
With one suite currently available for lease and future opportunities through strategic lease renewals, The Spectrum Professional Building offers investors a quality office asset with immediate income and long-term upside.
The building features 34 on-site parking spaces, updated common areas, a shared conference room, and flexible suite sizes that appeal to a broad range of businesses. Its central location along Greenwood Avenue provides excellent visibility and convenient access to Downtown Bend, Highway 97, St. Charles Medical Center, restaurants, shopping, and surrounding commercial services.
With one suite currently available for lease and future opportunities through strategic lease renewals, The Spectrum Professional Building offers investors a quality office asset with immediate income and long-term upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
14,900 SF
Building Class
B
Year Built/Renovated
1978/2020
Price
$3,125,000
Price Per SF
$209.73
Cap Rate
6.07%
NOI
$189,797
Percent Leased
98%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,450 SF
Building FAR
0.71
Lot Size
0.48 AC
Opportunity Zone
Yes
Zoning
CL
Parking
34 Spaces (2.28 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Conferencing Facility
- Signage
- Skylights
- Central Heating
- Fully Carpeted
- Wi-Fi
- Hardwood Floors
- Monument Signage
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 105333 | Total Assessment | $1,257,380 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
105333
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,257,380
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
Spectrum Bldg | 354 NE Greenwood Ave