Pacific ClearVision Institute
Single-Tenant NNN Healthcare Investment In Cottage Grove, OR
Marketing description
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.
Investment highlights
• NNN Lease: Pacific ClearVision Institute will sign a brand new 10-year NNN lease at closing with limited landlord responsibilities.
• Corporate Guarantee: The lease is fully guaranteed by Pacific ClearVision Institute, who has operated in the greater Eugene, OR market since 1989 with two total locations.
• Annual Rent Increases: 2% annual rent increases provide contractual rent growth, offering 20% rent growth and an average yield of 6.55% over the firm lease term.
• Roof Replacement: A new 60 mil TPO membrane roof was installed in 2024 with a 5-year transferrable warranty, minimizing future landlord capital expenditure responsibilities.
• Growing Industry: The Eye Care industry is experiencing strong growth driven by an aging population and increased digital screen time. According to The Vision Council, the U.S. Optical industry reached a market value in 2025 of $69.5B, up 4.4% from 2024.
• Low Market Vacancy: Cottage Grove boasts an impressive 2.3% vacancy rate, highlighting the demand for medical space.
• Established Corridor: Located just off Hwy 99 (11,200 VPD) and E Main St (11,400 VPD), surrounded by major retailers Safeway, Walgreens, Anytime Fitness, Verizon, and Domino’s Pizza.
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