63570 NE Hunnell Rd | Land

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Address: 63570 N E Hunnell Rd, Bend, OR 97703, USA
Created date: February 16, 2024
Date last updated: July 10, 2024
  • • CG zoning allows for a wide variety of uses
  • • Proposed mixed-use development (multifamily and storage)
  • • Directly adjacent to Costco's new development site (Gateway North)
  • • Located in the "Golden Triangle" near Cascade Village, an area of national/big-box retailers
  • • Current multifamily and storage concept valuation of $30.5M
  • • Adjacent to proposed 252-unit housing development (senior and market)

Property Description

This commercial development allows for a wide variety of uses. Directly adjacent to Costco’s new development site and located near Cascade Village, an area of national/big-box retailers. Current multifamily and storage concept valuation of $30.5M, and adjacent to proposed 252-unit housing development (senior and market). There is currently a mixed-use “concept” in pre-app status for the subject property. The concept is for a 5-story storage and multifamily project. The project would comprise of 713 units of storage on floors one through four, and 26 units of multifamily on the top (fifth) floor. Total project completion value when stabilized of approximately $30,500,000 based on a 5.35% blended cap. Seller has stated he would be willing to partner or act as fee developer for a new investor wanting to entitle current concept.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Land/Development
Price: $2,600,000
Lot Size: 1.46 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 63570 NE Hunnell Rd | Land, Bend, OR 97701, USA
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