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Multi-Tenant Retail Investment Opportunity 50 SW Division St

8,816 SF 100% Leased Retail Building Bend, OR 97702 $5,000,000 ($567/SF) 5.71% Cap Rate

Investment Highlights

  • Investment opportunity with sale-leaseback
  • Excellent on-site parking plus additional parking on ODOT land
  • Located in the Opportunity Zone
  • Large indoor and outdoor seating areas
  • Sale includes future retail site of 0.35 acre
  • Stunning views of the Cascade Mountains

Executive Summary

NEWLY RESTRUCTURED OFFER!
$306,000 in Credits + Rent Guarantee
Presenting a unique sale-leaseback opportunity with Crux Fermentation Project in the heart of Bend, Oregon. The offering includes an 8,816 SF facility on 1.57 acres. The Crux operation requires a total of 1.22 acres of land to support outdoor seating and food cart operations, leaving a future retail pad site of 0.35 acre on the south end of the lot, which represents excess land. This option allows for a stable investment while maintaining Crux Fermentation Project’s ongoing operations.
SALE-LEASEBACK OPPORTUNITY
The property at 50 SW Division Street, located on Bend’s west side, presents a unique sale-leaseback opportunity with Crux Fermentation Project. This arrangement facilitates a seamless transition and continued operation for Crux Fermentation Project, while providing a secure, more diversified investment for the new owner. Crux will leaseback 64% of the building, with the remainder of the building being leased to one or two other retail tenants (see space plan on page 8).
HISTORY
Originally constructed in 1988 as a Lumbermen’s supply store and later repurposed as an AAMCO transmission shop, the property underwent a complete transformation into a restaurant and brewery in 2012, with a subsequent 2,936-square-foot expansion in 2018. Its central location, situated between the historic Box Factory, Old Mill District, and downtown Bend, makes it a prime spot for business.
FACILITY OVERVIEW
The acclaimed tasting room, designed as a craft beer haven, draws a diverse audience of families, outdoor enthusiasts, and beer aficionados. The facility features over 24 taps, a spacious lawn with food carts, and breathtaking views of the Cascade Mountains.
The building encompasses 5,616 square feet of restaurant space occupied by Crux, along with an additional 3,200 square feet of soon to be demised retail space. Constructed with concrete blocks, exposed ceilings, and impressive roll-up glass doors, the facility exudes a modern industrial ambiance. The extensive lawn area includes three upgraded pads for food carts, equipped with concrete pads, underground electrical lines, and grey water lines.
The property offers 52 on-site parking spaces, with additional parking available on land leased from ODOT. The leased land from ODOT spans 21,999 square feet on the eastern edge of the property.

Attachments

Crux OM

Property Facts Under Contract

Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Storefront
Building Size
8,816 SF
Building Class
B
Year Built
1988
Price
$5,000,000
Price Per SF
$567
Cap Rate
5.71%
NOI
$285,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Land Acres
1.57 AC
Opportunity Zone
Yes
Zoning
MU - Mixed-Use Urban
Parking
52 Spaces (5.9 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Fireplace
  • Restaurant
  • Accent Lighting

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1
  • 1,600 SF
  • Retail
  • End Cap
  • 60 Days

Retail 1 is most open retail space with a roll-up door and private restroom.

  • 2
  • 1,600 SF
  • Retail
  • End Cap
  • 60 Days

Retail 2 is most open retail space and 2 private restrooms.

Space Size Space Use Position Available
1 1,600 SF Retail End Cap 60 Days
2 1,600 SF Retail End Cap 60 Days

1

Size
1,600 SF
Space Use
Retail
Position
End Cap
Available
60 Days

2

Size
1,600 SF
Space Use
Retail
Position
End Cap
Available
60 Days

1

Size 1,600 SF
Space Use Retail
Position End Cap
Available 60 Days

Retail 1 is most open retail space with a roll-up door and private restroom.

2

Size 1,600 SF
Space Use Retail
Position End Cap
Available 60 Days

Retail 2 is most open retail space and 2 private restrooms.

Walk Score ®
Very Walkable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

High Desert Cross Fit
Red Robin
Pure Barre
Orangetheory Fitness
Barre3
Umpqua Bank
WaFd Bank
Grocery Outlet
Dutch Bros
Starbucks
  • Listing ID: 31665503

  • Date on Market: 5/1/2024

  • Last Updated:

  • Address: 50 SW Division St, Bend, OR 97702

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