5555 NE Elam Young Pky - Medical FOR SALE


Hillsboro, OR 97124- Orenco Station
$7,950,000 USD
503-957-7945
5555 NE Elam Young Pky, Hillsboro, OR for Sale
$7,950,000 USD
Medical - FOR SALE
1/7
null | 6.25% Cap Rate

5555 NE Elam Young Pky
Hillsboro, OR 97124
Orenco Station


HIGHLIGHTS

  • The tenant operates on a NNN lease, minimizing landlord responsibilities- the lease includes annual CPI-based rent increases
  • Leased to Providence Health System, rated “A3” by Moody’s with $27 billion in annual revenue
  • The tenant has occupied the space since 2004 and recently exercised a 5-year option, extending firm term through 2029
  • The Property is situated less than a mile from Orenco Station, a 135-acre live-work-play development that has roughly 2,000 residential units already
  • An affluent suburb of Portland, Hillsboro’s workforce is made up of predominantly white-collar workers, with average household incomes of over $166k
  • Current ownership is open to providing seller financing at terms more favorable than traditional lenders

OVERVIEW

The Offering presents an inflation-hedged investment opportunity with a well-established tenant operating on a NNN lease, ensuring minimal landlord responsibilities. The lease structure includes annual CPI-based rent escalations, providing a natural hedge against inflation. The tenant’s long-term commitment to the property is evidenced by its occupancy since 2003 and the recent exercise of a five-year renewal option, securing tenancy through 2029. Additionally, the property is situated in Hillsboro, OR, an affluent Portland suburb where average household incomes exceed $166,000 within a mile of the Property, supported by a predominantly white-collar workforce. Strategically located less than a mile from Orenco Station, a 135-acre mixed-use development, the property benefits from proximity to nearly 2,000 residential units and Portland’s MAX Light Rail, which serves over 70,000 daily riders. This has translated to strong visitor traffic, with this Providence location ranking 9th out of 40 locations in the state for total visits (Placer.Ai). Additionally, seller financing may be available under terms more favorable than traditional lenders, offering a unique advantage to prospective buyers. Contact Northmarq for further details on financing options and investment opportunities.The Offering presents an inflation-hedged investment opportunity with a well-established tenant operating on a NNN lease, ensuring minimal landlord responsibilities. The lease structure includes annual CPI-based rent escalations, providing a natural hedge against inflation. The tenant’s long-term commitment to the property is evidenced by its occupancy since 2003 and the recent exercise of a five-year renewal option, securing tenancy through 2029. Additionally, the property is situated in Hillsboro, OR, an affluent Portland suburb where average household incomes exceed $166,000 within a mile of the Property, supported by a predominantly white-collar workforce. Strategically located less than a mile from Orenco Station, a 135-acre mixed-use development, the property benefits from proximity to nearly 2,000 residential units and Portland’s MAX Light Rail, which serves over 70,000 daily riders. This has translated to strong visitor traffic, with this Providence location ranking 9th out of 40 locations in the state for total visits (Placer.Ai). Additionally, seller financing may be available under terms more favorable than traditional lenders, offering a unique advantage to prospective buyers. Contact Northmarq for further details on financing options and investment opportunities.

FOR SALE DETAILS

PRICE

$7,950,000 USD

PRICE/SF

$537 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Providence Medical Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

MFR1, Hillsboro

APN/PARCEL ID

R2108565

ASK ABOUT THIS PROPERTY

Sean MackNorthmarqMore Info
503-957-7945

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Sean MackNorthmarqMore Info
503-957-7945

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