51385 SW Old Portland Rd - Medical FOR SALE


Scappoose, OR 97056
$5,640,000 USD
503-453-9124
51385 SW Old Portland Rd, Scappoose, OR for Sale
$5,640,000 USD
Medical - FOR SALE
1/8
null | 6.42% Cap Rate

51385 SW Old Portland Rd
Scappoose, OR 97056


HIGHLIGHTS

  • INSTITUTIONAL-GRADE ANCHOR TENANT
  • VALUE-ADD LEASE-UP OPPORTUNITY
  • EXCELLENTLY MAINTAINED & MANAGED
  • STRATEGIC LOCATION IN GROWTH CORRIDOR

OVERVIEW

Current in-place income offers investors a 6.05% cap rate at the asking price which is only $254 per SF for high-qulaity medical office space. The build-to cap rate is close to 8.00% assuming conservative rents and lease up costs. Building I is fully leased to OHSU, a state-supported academic medical center with superior credit. The lease extends through 2031 with 3% annual rental escalations, ensuring stable and growing income. Building II offers 6,363 SF of vacant space, including a medical-ready shell and a finished suite. These spaces provide immediate upside through professional leasing efforts, with potential for OHSU expansion or subdivision into smaller suites.

FOR SALE DETAILS

PRICE

$5,640,000 USD

PRICE/SF

$511 USD /SF

CAP RATE

6.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

2.38 AC

LAND SF

103,673 SF

ZONING

EC

APN/PARCEL ID

0101032130310300000

ASK ABOUT THIS PROPERTY

Ryan O'LearyKidder MathewsMore Info
503-453-9124

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Ryan O'LearyKidder MathewsMore Info
503-453-9124

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