20-24 NW Greenwood Ave & 21-35 NW Kearney Ave
Iconic Downtown Bend Asset with Stable Income and Future Upside
Marketing description
The Silver Moon Brewing property is a rare four-parcel assemblage in the heart of downtown Bend, anchored by a 25-year legacy tenant under a NNN lease. Spanning two buildings, it combines stable in-place income with the character, location, and optionality rarely available in Bend's Central Business District.
In early 2026, Silver Moon Brewing joined four other Central Oregon craft beverage brands to form the Oregon Beverage Collective (OBC), a shared production and operations partnership that preserves each brand's flagship pub as its community anchor. As select functions are consolidated, a portion of Silver Moon's downtown facility could be made available for another tenant or owner-user. The result is a flexible investment opportunity for an owner-user seeking a high-visibility Bend presence with built-in income, a passive NNN investor, a 1031 exchange buyer, or a combination of these strategies under one roof.
Investment highlights
- A 25-year operating history under a NNN lease structure provided a stable, predictable cash flow.
- $3,750,000 asking price delivers a 5.75% in-place cap rate, with embedded upside as the tenant's footprint evolves.
- Situated at NW Greenwood and NW Kearney, steps from downtown's retail and dining core, Drake Park and the Deschutes River
- Two buildings constructed in 1940, 1950, and expanded in 1970, offering authentic, irreplaceable downtown character.
- 27 dedicated on-site spaces, a significant competitive advantage in the downtown Bend submarket.
- Four contiguous tax lots totaling 0.85 acres, one of the largest CBD assemblages currently available downtown.
- A portion of the existing footprint could be made available for another tenant or owner-user as Silver Moon Brewing consolidates certain operations.
- Live music venues, food cart hub, fire pits, outdoor stages, and a 25-year following create a one-of-a-kind asset.
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