Central Oregon Net Leased Investment Property
Office | 6.00% CAP | 3,992 SqFt
Marketing description
Single tenant net leased office investment property with long term regional tenant for sale.
Exceptional net leased investment property in Central Oregon! 116 SE D Street was built in 1979 and served as a multi-tenant investment for decades. It was purchased in 2021 by a statewide mental health practitioner at which time it underwent significant improvements to have it be a location exclusively for this operator. This business recently elected to close this location and then leased the property to BestCare Treatment Centers.
BestCare is a non-profit organization that was created in 1979 as the result of collaboration between local hospitals, city and county governments, and regional mental health practitioners. Today, BestCare operates in multiple cities with numerous locations throughout central and southern Oregon, helping patients with substance abuse and other challenges who use Oregon state health plans, private insurance, and direct pay for services.
Investment highlights
> Fully renovated professional office property
> Long term regional tenant with strong rental history
> Well located property with off-street parking
> Beautifully updated in 2022 and nicely maintained
> Vital property for tenant’s regional operation
> NNN lease thru Oct., 2034, with annual 3% escalators
> Accelerated depreciation possible given extensive
tenant improvements
> Ideally located for clients and employees alike, one block west of Hwy. 97
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