PETROSA COMMERCIAL LAND 0.75-16.10 ACRE LOTS FOR SALE
COMMERCIAL DEVELOPMENT LAND FOR SALE
New Mixed-Use Development in Underserved Market
1
THE OFFERING
P E T R O S A CO M M E R C I A L D E V E LO P M E N T L A N D 21350 & 21380 BUTLER MARKET RD, BEND, OR 97 701
$15,428,952 | $22/SF Price for 16.1 Acres
16.1 AC
Max. Lot Size
0.75 AC
Min. Lot Size Contact listing broker for smaller lot pricing
CG
Zoning 2
EXECUTIVE SUMMARY Unlock the potential of 16.1 prime acres at the intersection of Deschutes and Butler Market Roads, nestled within the vibrant Petrosa master-planned community by Pahlisch Homes. This coveted corner is poised for a thriving commercial hub. The entire 16.1 acres is priced at $22 per square foot, with the smallest lot size being 0.75 acres (pricing available upon request). This offering pertains specifically to the sale of the commercial component within Petrosa, strategically located to accommodate a grocery store and other retail businesses. With approximately 1,100 residences in the Petrosa community, this commercial space will cater to the immediate and surrounding neighborhoods as well as effectively capturing Bend-Redmond commuter traffic. Petrosa, enriched with private amenities, including a pool, clubhouse, and abundant open space, is set to enhance the quality of life for its residents. The master plan has also reserved ten acres for a new elementary school, making this development a well-rounded and appealing opportunity for prospective investors.
179-ACRE LIVE/WORK/PLAY COMMUNITY IN NE BEND
0.75-16.1 ACRES OF COMMERCIAL GENERAL LAND
LOCATED IN AN UNDERSERVED, RAPIDLY GROWING RESIDENTIAL COMMUNITY
ADJACENT TO 1,100-UNIT PAHLISCH RESIDENTIAL DEVELOPMENT
FRONTAGE ON BUTLER MARKET AND DESCHUTES MARKET ROADS (11,300 AADT)
DEVELOPER AND OWNER USER OPPORTUNITY 3
POTENTIAL SITE PLAN OVERALL SITE PLAN SCHEME 2
ON-STREET PARKING:
78 STALLS
LEARNING CENTER OUTDOOR AREA
FUTURE DEVELOPMENT
OVERALL PARKING: 991 STALLS OVERALL PARKING RATIO: 4.83 / 1000 SF
COMMERCIAL / OFFICE (2 STORY) 19,400 SF
208 STALLS (214 NEEDED)
DESCHUTES MARKET RD
PETROSA AVENUE COMMERCIAL 5,750 SF
COMMERCIAL 5,750 SF
HOLISTIC MEDICAL PRACTICE (2 STORY) 19,950 SF
RESTAURANT 8,775 SF
AVENUE A HARDWARE +/- 20,000 SF (80 STALLS)
254 STALLS COMMERCIAL LEVEL 1 8,500 SF
COMMERCIAL 11,800 SF LOADING DOCK
446 STALLS
EAGLE RD
913 STALLS 4.45 / 1000 SF
SA
PARKING STALLS: PARKING STALLS RATIO:
EARLY CHILDHOOD LEARNING CENTER 14,000 SF
O
+/-205,173 SF
PE TR
TOTAL LEASEABLE AREA:
AV EN
U E
SITE INFORMATION
LEVEL 2 +/- 18,000 SF
BREEZEWAY
GROCERY +/- 32,500 SF (130 STALLS)
COMMERCIAL LEVEL 1 6,848 SF
COMMERCIAL 10,900 SF
DRIVE-THRU CAFE 800 SF
RESTAURANT 9,700 SF
FOOD HALL 12,500 SF
BUTLER MARKET RD
PROJECT NORTH
522005 | THE MARKET AT PETROSA | PRE SD ARCHITECTS
05.03.22
NOT FOR CONSTRUCTION
0
60'
120'
240'
4
LOCATION Bend, Oregon With a current population just over 100,000, Bend 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 3.7% and wage growth is among the highest in the nation.
Prime Development Opportunity The Petrosa development site is strategically positioned at the intersection of Deschutes Market and Butler Market Roads. This coveted location serves as a vital conduit for Bend and Redmond commuters, ensuring a steady stream of daily traffic. Rapid residential growth in the area has generated a pressing need for commercial services. This is a unique opportunity to meet rising demand and tap into the robust residential and commuter market. Don't miss the chance to transform this location into a thriving commercial hub.
5
DEMOGRAPHICS WITHIN 5 MILES OF THE PETROSA DEVELOPMENT
POPULATION TRENDS AND KEY INDICATORS EastonPetrosa Development 2 POPULATION
HOUSEHOLDS POPULATION TRENDS 100,000 80,000 60,000 40,000
88,387 92,181
94,943 98,701
1.44% 1.38%
2021 Total Total Population Population 2021 (Esri)
2026 Total Total Population Population 2026 (Esri)
2022-2027 Population: Population: 2021-2026 Annual Growth Growth Rate Rate Annual (Esri)
INCOME
POPULATION BY GENERATION
36,964
Size
Growth Rate
HOUSING STATS
$45,311 $50,230
$148,229 $173,298
$596,276 $775,000
29.9% 43.0%
$1,205 $1,336
Median Net Worth
AverageHome HomeValue Price Median
Percent Percent of of Income Income for for Mortgage
Median Contract Rent
Segments Tapestry segments
8C
22,956 23,284
2.22%
Per Capita Income
18,179 19,022 17,172 18,628
2.36
Average Household Annual 2020 Population 2021 Population2010-2020 2027 Population
$80,922 $83,351
2021 Baby Boomer Population (Born 1946 to 1964) (Esri)
18,624 19,397
0
Households 2010Total Population
Median Median Household Household Income
EDUCATION
2021 Generation X Population (Born 1965 to 1980) (Esri)
20,000
4%
16% 19%
33%
47% 44%
No High High School School No Diploma
High School School High Graduate
Some College
Bachelor's/Grad/Prof Degree
Bright Young Professionals 8,602 7,943 households
4C 1E
BUSINESS
22.4% 21.5% of Households
Middleburg Exurbanites
12.4% 14.1%
4,764 5,215 households
of Households
Middleburg In Style
12.1% 14.1%
5,215 households 4,635
of Households
2021 Millennial Millennial 2021 Population (Born (Born Population 1981 to 1998) (Esri)
2021 Generation Z Population (Born 1999 to 2016) (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
4C 5B
5,512 5,742
48,499 55,451
2.5% 4.1%
Total Businesses
Total Employees
2021 2021 Unemployment Unemployment Rate (Esri)
6
EXCLUSIVELY LISTED BY RUSSELL HUNTAMER, CCIM Partner, Principal Broker Cell 541.419.2634 rh@compasscommercial.com
BRUCE CHURCHILL
Principal Broker Cell 541.280.7560 bchurchill@compasscommercial.com
ELI HARRISON
Broker Cell 541.977.2890 eharrison@compasscommercial.com
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.
7