Downing Building

Investment Overview

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.