257 N 8th St - Medical FOR SALE


Cottage Grove, OR 97424
$1,250,000 USD
503-210-4062
257 N 8th St, Cottage Grove, OR for Sale
$1,250,000 USD
Medical - FOR SALE
1/3
null | 6% Cap Rate

257 N 8th St
Cottage Grove, OR 97424


HIGHLIGHTS

  • NNN Lease: Pacific ClearVision Institute will sign a brand new 10-year NNN lease at closing with limited landlord responsibilities.
  • The lease is fully guaranteed by Pacific ClearVision Institute, who has operated in the greater Eugene, OR market since 1989 with two total locations.
  • 2% annual rent increases provide contractual rent growth, offering 20% rent growth and an average yield of 6.55% over the firm lease term.
  • A new 60 mil TPO membrane roof was installed in 2024 with a 5-yr transferrable warranty, minimizing future landlord capital expenditure responsibility
  • Cottage Grove boasts an impressive 2.3% vacancy rate, highlighting the demand for medical space.
  • Located just off Hwy 99 (11,200 VPD) and E Main St (11,400 VPD), surrounded by major retailers Safeway, Walgreens, AF, Verizon, and Domino's

OVERVIEW

The Offering presents the opportunity to acquire a single-tenant NNN healthcare investment leased to an eye care practice with a 35+ year operating history in the greater Eugene, OR market. Pacific ClearVision Institute will execute a new 10-year NNN lease at closing, featuring 2% annual rent increases and providing contractual income growth throughout the initial term and each of the two five-year renewal options. The investment provides investors with durable healthcare real estate as the Eye Care industry reached a market value of $69.5B in 2025, up 4.4% from the previous year. According to The Vision Council, approximately 94% of U.S. adults, or 250 million people, regularly use some form of eyewear. Cottage Grove is a growing submarket of Eugene, with a $14M+ revitalization project recently completed in the downtown core that will benefit the business district in which Pacific ClearVision Institute operates. Cottage Grove boasts an impressive 2.3% vacancy rate for medical office properties, with no new medical office space currently under construction.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$418 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pacific ClearVision Institute

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

RC

APN/PARCEL ID

0892446

ASK ABOUT THIS PROPERTY

Anthony AlbrechtNorthmarqMore Info
503-210-4062

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Anthony AlbrechtNorthmarqMore Info
503-210-4062

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.