NNN-Leased Medical Office
For Sale
$10,300,000
1200 NE 48th Ave, Hillsboro, OR 97124
Fee simple medical office investment leased on a NNN basis to Tuality Healthcare in Hillsboro.
Property Size23,654 SF
Days on Market140
Property Features for 1200 NE 48th Ave
General Information
Standard status
Active
Size
23,654 SF
Class
B
Property subtype
Office
Building Details
Building Size
23,654 SF
Tenancy
Single
Listing Agency:
Capacity Commercial Group
Listed By:
Nicholas Diamond · License #OR #200403266
(503) 222-2655
Source:
Capacitycommercial
Added: Jun 9
Changed: Oct 25
Last Checked: Oct 24 at 2:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capacity Commercial Group
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Investment Insights
Based on property information with market context.
This offering presents a fee simple interest in an NNN-leased medical office asset with an institutional-grade tenant, Tuality Healthcare / Hillsboro Medical Center. The transaction is structured for ownership of the property under a triple-net arrangement, with the tenant in place at the time of sale.
The property is located at 1200 NE 48th Ave in Hillsboro, Oregon, and is presented as an opportunity within the Healthcare and Specialty property categories. Based on the provided information, the medical center tenant is identified as Tuality Healthcare / Hillsboro Medical Center.
For buyers seeking an NNN-leased healthcare-focused asset, this tenancy provides a straightforward use profile aligned with medical office operations. The fee simple structure supports acquisition of the underlying real estate while maintaining the current lease setup with the named institutional tenant.
The property is located at 1200 NE 48th Ave in Hillsboro, Oregon, and is presented as an opportunity within the Healthcare and Specialty property categories. Based on the provided information, the medical center tenant is identified as Tuality Healthcare / Hillsboro Medical Center.
For buyers seeking an NNN-leased healthcare-focused asset, this tenancy provides a straightforward use profile aligned with medical office operations. The fee simple structure supports acquisition of the underlying real estate while maintaining the current lease setup with the named institutional tenant.
Key Highlights
- Fee simple interest in a NNN‑leased medical office investment
- Institutional grade tenant: Tuality Healthcare / Hillsboro Medical Center (tuality.org)
- Located in Hillsboro, Oregon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$352,199
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,043,980
$7.0M
Cap Rate 7%
$5,031,414
$5.0M
Cap Rate 9%
$3,913,322
$3.9M
Market Conditions
NOI Build-Up for 23,654 SF
Gross rent
$624.5K $26.40/SF
− Vacancy
−$37.5K −$1.58/SF
EGI
$587.0K $24.82/SF
− OpEx
−$234.8K −$9.93/SF
NOI
$352.2K $14.89/SF
Area
Hillsboro, OR
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,043,980
Cap Rate 7%
$5,031,414
Cap Rate 9%
$3,913,322
Alternative Uses
Best Use
Healthcare Medical
$5.03M
$4.40M – $5.87M
NOI $352,199 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.35M
$5.56M – $7.41M
NOI $444,638 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
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Business Placement
Demographics for 97124, OR
53,487
Population
22,176
Households
2.4
Avg Household Size
35
Median Age
47%
College-Educated
93%
High-School Grad
45.1 sq mi
ZIP Area
1,186
Density / Sq Mi
$107,063
Median Household Income
$54,463
Median Earnings
$1,918
Median Rent
$518,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Fee simple medical office investment leased on a NNN basis to Tuality Healthcare in Hillsboro.
Where is this medical center located?
The property is located at 1200 NE 48th Ave Hillsboro, OR.
What is the asking price?
The asking price for this property is $10,300,000.
What are key features of this property?
This property features: Fee simple interest in a NNN‑leased medical office investment; Institutional grade tenant: Tuality Healthcare / Hillsboro Medical Center (tuality.org); Located in Hillsboro, Oregon
