1 EASTON COMMERCIAL LAND COMMERCIAL DEVELOPMENT LAND FOR SALE New Mixed-Use Development in Underserved Area
2 $8,500,000 Price for 8.39 Acres 8.39 AC Max. Available 0.75 AC Min. Available CG Zoning $23.26 Price Per SF EASTON COMMERCIAL DEVELOPMENT LAND 60802 15TH ST., BEND, OR 97702 THE OFFERING
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EXECUTIVE SUMMARY ST AND
The commercial land will be delivered with a great majority of offsite infrastructure in place. This 8.39-acre parcel is made up of five separate lots that can be sold separately in parcels as small as 0.75 acres. It will have frontage on 15th Street and Knott Road, with wet and dry utilities stubbed to the property line.
The Pahlisch Easton commercial development represents a unique and exciting opportunity for developers and owner-users to participate in the explosive growth of Bend, Oregon, and to enjoy direct access to one of the premier master planned communities in the state. It features unprecedented access to a largely underserved community on the southeast side of Bend. With its proximity to Alpenglow Park and Caldera High School, mix of single-family homes, multi-level townhomes, and timeless modern cottages, and abundance of community amenities, Easton provides a rare and diverse set of commercial development opportunities.
0.75-8.39 ACRES OF COMMERCIAL GENERAL LAND FRONTAGE ON SE 15TH
KNOTT RD (9,060 AADT) DEVELOPER AND OWNER USER OPPORTUNITY ACROSS THE STREET FROM CALDERA HIGH SCHOOL LOCATED IN AN UNDERSERVED, RAPIDLY RESIDENTIALGROWINGCOMMUNITY ADJACENT TO 815 UNIT PAHLISCHDEVELOPMENTRESIDENTIAL
4 RAINTREEDRSE15THST KNOTT RD DRAMBASSADORSEHUMBER LNSESYDNEYHARBORDR MIRAMAR DRHARBORSKYDR NEIGHBORHOODPARK(BPRD) SE CALDERA DR MASTER PLAN AREA SUMMARY LAND USE AREA (ACRES) EXHIBITCOMMERCIAL PLANMASTEREASTON HOMESPAHLISCH MASTER PLAN SUMMARYHOUSING TYPE UNITS RAINTREEDR DRAMBASSADORSEHUMBER LNSESYDNEYHARBORDR MIRAMAR DRHARBORSKY NEIGHBORHOODPARK(BPRD) MASTER PLAN AREA SUMMARY LEGEND LAND USE AREA (ACRES) MASTER PLAN SUMMARYHOUSING TYPE UNITS SITE PLAN *The five lots have received tenative approval 200-UNIT APARTMENT SITE (CURRENTLY IN DESIGN) LOT 10.75-8.39 ACRES OF COMMERCIAL LAND LOT 2 LOT 3 LOT 4 LOT 5
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The city of Bend, with a current population just over 100,000, ranks 2nd in the state for population growth over the last ten years, recording a 33.4% increase over that time period. Nationally, Bend was ranked as the 13th strongest market in the country in the Commercial Real Estate Metro Market Index published by NAR (based on job growth, wage growth, unemployment rates, vacancies, absorption and cap rates). Work-life balance and access to the outdoors has made Bend one of the most attractive places to live in the Country. Residents enjoy the advantages of a small town with the medical, professional and educational opportunities as a large metro. The current unemployment rate in Bend is 3.4% and wage growth is among the highest in the nation.
The Easton development site is located in southeast Bend right across the street from the new Caldera High School on the corner for SE 15th Street and Knott Road. This is a rapidly growing region of Bend with 38,400 households within a 5-mile radius, plus many more under construction. The Easton site will be able to provide much needed commercial services to this greatly underserved area.
LOCATION
LOCATION
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This is an excellent opportunity for developers and owner/users to provide much needed commercial services in the largly underserved southeast Bend trade area.
7 POPULATION TRENDS AND KEY INDICATORS Easton Development EDUCATION 4% No High DiplomaSchool High19%SchoolGraduate Some33%College Bachelor's/Grad/Prof44%Degree POPULATION 202192,181TotalPopulation(Esri) 202698,701TotalPopulation(Esri) 2021-20261.38%Population:AnnualGrowthRate(Esri) BUSINESS Total5,512Businesses Total48,499Employees 2.5% 2021 UnemploymentRate(Esri) Tapestry Segments 8C Bright ProfessionalsYoung 8,602 households 22.4% of Households 4C Middleburg 4,764 households 12.4% of Households 5B In Style 4,635 households 12.1% of Households POPULATION BY 19,022GENERATION 2021 Baby Boomer Population (Born 1946 to 1964) 18,628(Esri) 2021 Generation X Population (Born 1965 to 1980) 19,397(Esri) 2021 Generation Z Population (Born 1999 to 2016) (Esri) 198123,2842021MillennialPopulation(Bornto1998)(Esri) This infographic contains data provided by American Community Survey (ACS), Esri, Esri and Bureau of Labor Statistics. The vintage of the data is 2015-2019, 2021, 2026. © 2021 Esri INCOME Median$80,922HouseholdIncome Per$45,311CapitaIncome Median$148,229NetWorth HOUSING STATS Median$459,257HomeValue Percent29.9%ofIncome for Mortgage Median$1,205ContractRent HOUSEHOLDS Total38,416Households Average2.38HouseholdSize 2010-20202.16%AnnualGrowthRate POPULATION TRENDS AND KEY INDICATORS Easton Development EDUCATION 4% No High DiplomaSchool High19%SchoolGraduate Some33%College Bachelor's/Grad/Prof44%Degree POPULATION 202192,181TotalPopulation(Esri) 202698,701TotalPopulation(Esri) 2021-20261.38%Population:AnnualGrowthRate(Esri) BUSINESS Total5,512Businesses Total48,499Employees 2.5% 2021 UnemploymentRate(Esri) 2010 Population 2020 Population 2021 Population 2027 Population100,00080,00060,00040,00020,0000Tapestry Segments 8C Bright ProfessionalsYoung 8,602 households 22.4% of Households 4C Middleburg 4,764 households 12.4% of Households 5B In Style 4,635 households 12.1% of Households POPULATION BY 19,022GENERATION 2021 Baby Boomer Population (Born 1946 to 1964) 18,628(Esri) 2021 Generation X Population (Born 1965 to 1980) 19,397(Esri) 2021 Generation Z Population (Born 1999 to 2016) (Esri) 198123,2842021MillennialPopulation(Bornto1998)(Esri) INCOME Median$80,922HouseholdIncome Median$148,229NetWorth HOUSING STATS Average$775,000HomePrice Percent of Income for Median$1,205ContractRent POPULATION TRENDS WITHIN 5 MILES OF THE EASTON DEVELOPMENT DEMOGRAPHICS
8 ELI HARRISON eharrison@compasscommercial.comCellDirectBroker541.848.4059541.977.2890 BRUCE CHURCHILL Principal Broker Direct 541.848.4079 Cell bchurchill@compasscommercial.com541.280.7560 RUSSELL HUNTAMER, CCIM Partner, Principal Broker Direct 541.848.4049 Cell rh@compasscommercial.com541.419.2634 Brokers are licensed in the state of Oregon. This information has been furnished from sources we deem reliable, but for which we assume no liability. This is an exclusive listing. The information contained herein is given in confidence with the understanding that all negotiations pertaining to this property be handled through Compass Commercial Real Estate Services. All measurements are approximate. EXCLUSIVELY LISTED BY
