Medical Office Building with Remodeled
For Sale
$1,350,000
209 N Pacific Highway, Talent, OR 97540
Remodeled medical or conventional office building with a reception area, offices, and conference space on 0.61 acres.
Property Size6,339 SF
Lot Size0.61 Acres
Price / SF$212.97
Days on Market47
Property Features for 209 N Pacific Highway
General Information
Standard status
Active
Size
6,339 SF
Total Parking Spaces
25
Lot size
0.61 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
reception area
8 offices
large open work spaces
conference room
private restrooms
kitchen
Building Details
Year Renovated
2019
Buildings
1
Building Size
6,339 SF
Listing Agency:
Merit Commercial RE, LLC
(541) 608-6704
Listed By:
Caspian C Hoehne
Source:
Gatewayteam
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 14 at 12:09PM
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 Merit Commercial RE, LLC
Investment Insights
Based on property information with market context.
Exclusively presented for sale, this medical or conventional office building at 209 N Pacific Hwy in Talent, OR offers a functional layout designed for professional use. The building features a reception area, 8 offices, large open work spaces, a conference room, private restrooms, and a kitchen. It underwent extensive remodeling in 2019, and it was formerly occupied by Asante’s Hospice services. The property includes a 6,339 SF building on a 0.61-acre site.
Access is convenient via two shared driveways off N Pacific Hwy and Talent Ave. The site also includes 25 deeded parking spaces, with additional parking available nearby.
The building is well-maintained and positioned as a central, highly visible administration or small HQ office option with a flexible interior arrangement.
Access is convenient via two shared driveways off N Pacific Hwy and Talent Ave. The site also includes 25 deeded parking spaces, with additional parking available nearby.
The building is well-maintained and positioned as a central, highly visible administration or small HQ office option with a flexible interior arrangement.
Key Highlights
- 6,339 SF medical or conventional office building remodeled in 2019
- Reception area plus 8 offices and a conference room
- Large open work spaces, private restrooms, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,909
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,838,180
$1.8M
Cap Rate 7%
$1,312,986
$1.3M
Cap Rate 9%
$1,021,211
$1.0M
Market Conditions
NOI Build-Up for 6,339 SF
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.
Gross rent
$171.2K $27.00/SF
− Vacancy
−$18.0K −$2.84/SF
EGI
$153.2K $24.17/SF
− OpEx
−$61.3K −$9.67/SF
NOI
$91.9K $14.50/SF
Area
Jackson County, OR
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,838,180
Cap Rate 7%
$1,312,986
Cap Rate 9%
$1,021,211
Alternative Uses
Best Use
Healthcare Medical
$1.31M
$1.15M – $1.53M
NOI $91,909 @ 7.0% cap · market cap 6.81%
Second Best
Office B
$1.11M
$969.9K – $1.29M
NOI $77,589 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,104 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97540, OR
8,234
Population
4,228
Households
1.9
Avg Household Size
45
Median Age
43%
College-Educated
97%
High-School Grad
45.0 sq mi
ZIP Area
183
Density / Sq Mi
$57,686
Median Household Income
$40,176
Median Earnings
$1,428
Median Rent
$427,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled medical or conventional office building with a reception area, offices, and conference space on 0.61 acres.
Where is this medical office space located?
The property is located at 209 N Pacific Highway Talent, OR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 6,339 SF medical or conventional office building remodeled in 2019; Reception area plus 8 offices and a conference room; Large open work spaces, private restrooms, and kitchen
