2185 NE 2nd Street
2185 NE 2nd Street, Bend, OR 97701
Marketing description
2185 NE 2nd Street presents a stabilized two-building industrial investment totaling 11,168 square feet on 0.66 acres in Bend's Mixed Employment (ME) zone. The property is fully leased to two established tenants—German Transaxle and Gym X—producing in-place annual NOI of $151,871 and a 5.73% cap rate at the asking price.
The asset consists of two separate buildings under one address. Building 1 (5,000 SF – Suites A/B), occupied by Gym X, is built out as a fitness facility with a basketball court and open training areas. The building features two 12' roll-up doors, one dock-high loading platform, 3-phase 200-amp power, two Reznor heaters, two offices, and two restrooms.
Building 2 (6,168 SF – Suite C), occupied by German Transaxle, is primarily warehouse space with one 14' grade-level roll-up door and 3-phase, 200-amp power. The layout includes two upstairs offices, one downstairs office, and two restrooms.
Leases expire in October 2027 and April 2030, respectively, and each tenant holds one five-year renewal option, creating staggered rollover and continued income durability.
Investment highlights
- Fully Leased Asset - Two established tenants on NNN leases
- 2-Building Campus - Standalone industrial buildings on a single tax lot
- Building 1: Fitness Use - 5,000 SF gym with dock and two 12' roll-up doors
- Building 2: Warehouse - 6,168 SF industrial building with one 14' roll-up door
- 3-Phase Power - 200-amp service serving each building
- ME Zoning - Supports broad employment and light industrial uses
- Strong Highway Exposure - Approx. 52,000 AADT on nearby U.S. Highway 97
- Growing Bend Market - Bend population exceeds 105,000 with steady growth
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