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Paulina Square - Retail Center 61545 S Highway 97 14,674 SF 100% Leased Retail Building Bend, OR 97702 $5,150,000 ($350.96/SF)
Investment Highlights
- Premier Location: Frontage on Hwy 97 with 19,287 AADT with excellent visibility
- Owner-User Option: Anchor space available for owner-user upon Big 5 lease expiration
- Value-Add Potential: Chance to re-lease anchor space at market rents or reconfigure tenancy
- Major Shopping Area: Adjacent to Fred Meyer with 130K+ monthly visits driving regional traffic
- Flexible Zoning: Commercial General (CG) zoning allows a wide range of retail uses
- Abundant Parking: 48 onsite spaces deliver a 3.27/1,000 SF ratio supporting high customer turnover
Executive Summary
$500,000 PRICE REDUCTION!
Paulina Square presents a rare opportunity to acquire a high-visibility retail center on Bend’s dominant commercial corridor, South Highway 97, anchored by nationally recognized tenants and shadow-anchored by Fred Meyer. The center totals 14,674 square feet and is currently 100% leased, with Big 5 Sporting Goods occupying over 76% of the gross leasable area since 2008.
Big 5’s lease has been extended through January 31, 2027, providing income in place with near-term flexibility. Beginning December 1, 2025, either party may terminate the lease with 150 days' notice, allowing a buyer to plan for future occupancy or repositioning. Whether you’re an owner-user looking to control a prime, large-format box or an investor seeking to re-lease the anchor space, Paulina Square offers a compelling opportunity.
The property features strong co-tenancy, flexible CG zoning, and prominent Highway 97 frontage with over 19,000 vehicles per day. For owner-users, this is a chance to secure long-term real estate presence in one of Oregon’s fastest-growing cities. For investors, the offering presents covered land with future re-leasing or redevelopment potential in a high-barrier-to-entry location.
Paulina Square’s strategic location, existing income stream, and near-term occupancy flexibility make it a versatile asset for a wide range of buyer profiles.
Paulina Square presents a rare opportunity to acquire a high-visibility retail center on Bend’s dominant commercial corridor, South Highway 97, anchored by nationally recognized tenants and shadow-anchored by Fred Meyer. The center totals 14,674 square feet and is currently 100% leased, with Big 5 Sporting Goods occupying over 76% of the gross leasable area since 2008.
Big 5’s lease has been extended through January 31, 2027, providing income in place with near-term flexibility. Beginning December 1, 2025, either party may terminate the lease with 150 days' notice, allowing a buyer to plan for future occupancy or repositioning. Whether you’re an owner-user looking to control a prime, large-format box or an investor seeking to re-lease the anchor space, Paulina Square offers a compelling opportunity.
The property features strong co-tenancy, flexible CG zoning, and prominent Highway 97 frontage with over 19,000 vehicles per day. For owner-users, this is a chance to secure long-term real estate presence in one of Oregon’s fastest-growing cities. For investors, the offering presents covered land with future re-leasing or redevelopment potential in a high-barrier-to-entry location.
Paulina Square’s strategic location, existing income stream, and near-term occupancy flexibility make it a versatile asset for a wide range of buyer profiles.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
14,674 SF
Building Class
C
Year Built
1995
Price
$5,150,000
Price Per SF
$350.96
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.31
Lot Size
1.08 AC
Zoning
CG - Commercial General
Parking
48 Spaces (3.27 Spaces per 1,000 SF Leased)
Frontage
180’ on S Highway 97 Hwy
Amenities
- Signage
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 177088 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,232,010 |
Property Taxes
Parcel Number
177088
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,232,010
Contacts
-
Dan Kemp -
Howard Friedman -
Emilio Tiscareno -
Compass Commercial Real Estate Services
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Paulina Square - Retail Center | 61545 S Highway 97
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