Contact Us
Steve Larsen Properties
404 SW Columbia St, Suite 220
Bend, Oregon 97702
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PHONE: 541.385.9131
FAX: 541.385.9139
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“Steve Larsen is the consummate professional broker — aggressive, knowledgeable, and proactive with uncompromised integrity.”
by: John Audia
SALE PENDING - The Sage Building
409 NE Greenwood Ave.
Bend Oregon 97701
Now at a true 7% CAP, with a Fully Stabilized Income Stream Until 2011. The Sage Building is a 12,094 SF, 2 tenant office/medical building located on the corner of NE Greenwood and 4th St. in Bend's core business district. Priced at $2,780,000, with two, long-term (until 2011 and 2014 respectively) NNN leases from solid tenants in place, make this an investment property with tremendous value. The building sits on two tax lots, which total approx. 28,000 SF and includes over 40 on-site parking spaces. The building was fully renovated in 2005 and was recognized as the top commercial renovation of the year by the Central Oregon Association of Realtors. Currently, the building houses Prudential Realty and the Ochoco Medical Clinic, both of which are occupying the spaces at below market rents. This, coupled with a per square foot price which is below replacement cost give this property some significant long term upside.
