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Listing provided by LightBox Revere
1200 NE 48th AveHillsboro, OR 97124
Cornell Business Park - Building 1
Asset ClassOffice, Healthcare Facility
Deal Size$10.3 M
HealthPlace Medical Building
Overview
Prime Hillsboro Medical Real Estate
Single Tenant NNN Lease | 20+ Years of Occupancy
Sale Price: $10,300,000 ($435/SF)
CAP Rate: 6.25%
NOI: $643,706
Annual Rent Increase: 3%
Rentable SF: 23,654 SF
Gross Land Area: 2.14 AC
Parking Spaces: 85 Spaces
Parcel ID: R2001841
Investment Highlights
- Institutional-quality tenant with 20+ year operating history in building
- Freshly executed 10-year NNN lease structure minimizes ownership responsibilities
- Brand New Electric HVAC systems being installed throughout entire building, plus over $1.2M in Tenant Improvements being made, eliminating major expenditures on these items for new ownership for years to come
- Prime Hillsboro medical district location with sustained and growing healthcare demand
- Benefits from Washington County's continued population and economic growth
- Opportunity for stable, long-term cash flow in a proven medical market
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1200 NE 48th AveHillsboro, OR 97124
Sales Team
Listing provided by LightBox Revere