Listed by NAI Cascade Commercial Real Estate Services, Worldwide
$5,000,000
1033 NW Bond Street
Details
Property Type Retail, Multifamily
Sub Type Restaurant, Apartment Building
Square Footage 8,766
Units 3
Cap Rate 6.50%
NOI $324,954
Occupancy 100%
Tenancy Multi
Brand/Tenant Ken's Artisan Pizza
Lease Type NNN
Price per SqFt $570
Year Built 1920
Year Renovated 2025
Buildings 1
Stories 2
Acreage 0.160
Zoning CBD
Parking Spaces 11 spaces
Parking per 1,000 SqFt 1.25
Ground Lease No
Investment Opportunity | Historic Landmark Downtown Building
Marketing description
A premier historical landmark in downtown Bend, 1033 NW Bond has been thoughtfully restored and anchored by two of the city's busiest dining destinations: Ken's Artisan Pizza, ranked 8th best pizza in the U.S. this year, and Americana, a Bend staple.
The second floor currently operates as three high-end apartments, providing in-place income for an investor seeking a stabilized asset. Permits are in place for conversion to a niche, high-end European-style albergo with tenant in place and excess land at the rear of the property allowing for future expansion.
With original 17-foot ceilings, a building elevator, fire suppression system, and ample onsite and offsite parking, this property combines historic charm with strong income potential and future upside.
Investment highlights
- Iconic Tenants: First floor is home to two of the most popular restaurants in Bend, OR: Ken's Artisan Pizza, ranked among the top 50 pizza restaurants worldwide, and Americana Burger, a favorite for its simple menu featuring an elevated take on fast casual with smash burgers and smothered fries. These popular dining destinations drive consistent local and tourist traffic year-round.
- In-Place Income: The second story is currently built out as three high-end apartments at 100% occupancy. A buyer has flexibility to retain this use or redevelop.
- European-Styled Albergo: The second story is permit ready for conversion to a niche, high-end, European-styled albergo with tenant in place. Excess land in the rear allows for future albergo expansion.
- Ample Parking: On-site parking plus the Diamond Lot next door, City parking garage one block away, and a city lot adjacent to the rear of the building. No additional parking required by the City of Bend.
- Historic Use Entitlements: Confirmed historical lodging and restaurant use entitlements in place. No additional land use approvals required.
- Environmental & Infrastructure: Phase I Environmental completed September 2022.
- Complete Restoration: Finalized in 2025 with upgraded HVAC, new plumbing and electrical systems, structural improvements, and commercial kitchens including a Type I hood and fire suppression.
- Architectural Character: Original 17' ceilings with 24" crown molding remain intact, preserving the building's historic charm.
- Prime Downtown Location: High-visibility site on NW Bond Street with excellent pedestrian traffic, directly across from nationally renowned Deschutes Brewery.
Listing Contacts
Listed by NAI Cascade Commercial Real Estate Services, Worldwide
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$324,954.00
$27,079.50/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
Map
Zoning
CB CommercialCore CommercialCentral Business
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View all 55 uses
View all 55 uses Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics
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