NNN Medical Office
For Sale
Contact for pricing
1200 NE 48th Ave, Hillsboro, OR 97124
Leased medical office building with freshly executed 10-year NNN lease and brand new electric HVAC systems.
Property Size23,654 SF
Price / SF$435.44
Days on Market35
Property Features for 1200 NE 48th Ave
General Information
Standard status
Active
Size
23,654 SF
Property subtype
OFFICE
Listing Agency:
Capacity Commercial Group
(503) 326-9000
Listed By:
Jeff Falconer · License #200403266
(503) 307-3075
Source:
Moodyscre
Added: Jun 29
Changed: Jul 21
Last Checked: Jul 21 at 10:05PM
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
Investment Insights
Based on property information with market context.
This institutional-quality medical office building is offered for sale with a freshly executed 10-year NNN lease structure. The current tenant has 20+ years of operating history in the building, and the ownership obligations are intended to be minimized through the NNN lease format.
The property is undergoing substantial upgrades, including brand new electric HVAC systems being installed throughout the entire building. Over $1.2M in tenant improvements is also being made, reducing near-term capital expenditures related to these items.
Located in Hillsboro’s medical district, the offering is positioned within Washington County’s continued population and economic growth, with sustained and growing healthcare demand referenced in the remarks.
The property is undergoing substantial upgrades, including brand new electric HVAC systems being installed throughout the entire building. Over $1.2M in tenant improvements is also being made, reducing near-term capital expenditures related to these items.
Located in Hillsboro’s medical district, the offering is positioned within Washington County’s continued population and economic growth, with sustained and growing healthcare demand referenced in the remarks.
Key Highlights
- Leased medical office building with a freshly executed 10‑year NNN lease structure
- Institutional‑quality tenant with 20+ year operating history in the building
- Brand new electric HVAC systems being installed throughout the entire building
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $624.5k | $26.40 |
| − Vacancy | −$37.5k | −$1.58 |
| EGI | $587.0k | $24.82 |
| − OpEx | −$234.8k | −$9.93 |
| NOI | $352.2k | $14.89 |
23,654 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$5.03M
$4.40M – $5.87M
NOI $352,199 @ 7.0% cap · market cap 3.42%
Second Best
Office B
$3.31M
$2.90M – $3.86M
NOI $231,697 @ 7.0% cap · market cap 2.25%
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Leased medical office building with freshly executed 10-year NNN lease and brand new electric HVAC systems.
Where is this medical office space 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: Leased medical office building with a freshly executed 10‑year NNN lease structure; Institutional‑quality tenant with 20+ year operating history in the building; Brand new electric HVAC systems being installed throughout the entire building
