NNN Medical Office
New
For Sale
Contact for pricing
257 N 8th St, Cottage Grove, OR 97424
A new 10-year NNN lease is planned at closing, with limited landlord responsibilities.
Property Size2,989 SF
Price / SF$418.20
Days on Market5
Property Features for 257 N 8th St
General Information
Standard status
Active
Size
2,989 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Northmarq | Lake Oswego
(503) 887-1233
Listed By:
Mickey Salzman · License #960500191
(212) 603-9549
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 1:11PM
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 Northmarq | Lake Oswego
Investment Insights
Based on property information with market context.
This 2,989-square-foot medical office property is structured for a new 10-year NNN lease with Pacific ClearVision Institute at closing. The lease includes limited landlord responsibilities, a corporate guarantee, and 2% annual rent increases. The tenant has operated in the greater Eugene, OR market since 1989 and maintains two locations.
A 60 mil TPO membrane roof was installed in 2024 and carries a 5-year transferable warranty, addressing a major building component for the lease term. The property is positioned just off Hwy 99 and E Main St in Cottage Grove, with reported traffic volumes of 11,200 VPD and 11,400 VPD, respectively. Nearby retailers include Safeway, Walgreens, Anytime Fitness, Verizon, and Domino’s Pizza.
A 60 mil TPO membrane roof was installed in 2024 and carries a 5-year transferable warranty, addressing a major building component for the lease term. The property is positioned just off Hwy 99 and E Main St in Cottage Grove, with reported traffic volumes of 11,200 VPD and 11,400 VPD, respectively. Nearby retailers include Safeway, Walgreens, Anytime Fitness, Verizon, and Domino’s Pizza.
Key Highlights
- 2,989‑square‑foot medical office property
- New 10‑year NNN lease with Pacific ClearVision Institute planned at closing
- Corporate lease guarantee; tenant has operated in the greater Eugene, OR market since 1989
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
$41,406
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
3.31%
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%
$828,120
$828.1K
Cap Rate 7%
$591,514
$591.5K
Cap Rate 9%
$460,067
$460.1K
Market Conditions
NOI Build-Up for 2,989 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
$66.4K $22.20/SF
− Vacancy
−$11.1K −$3.73/SF
EGI
$55.2K $18.47/SF
− OpEx
−$13.8K −$4.62/SF
NOI
$41.4K $13.85/SF
Area
Lane County, OR
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$828,120
Cap Rate 7%
$591,514
Cap Rate 9%
$460,067
Alternative Uses
Best Use
Office B
$591.5K
$517.6K – $690.1K
NOI $41,406 @ 7.0% cap · market cap 3.31%
Second Best
Healthcare Medical
$520.4K
$455.4K – $607.2K
NOI $36,429 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$756.2K
$661.7K – $882.2K
NOI $52,933 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 97424, OR
18,750
Population
7,920
Households
2.4
Avg Household Size
45
Median Age
22%
College-Educated
91%
High-School Grad
246.2 sq mi
ZIP Area
76
Density / Sq Mi
$71,985
Median Household Income
$36,588
Median Earnings
$1,012
Median Rent
$349,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - A new 10-year NNN lease is planned at closing, with limited landlord responsibilities.
Where is this nnn property located?
The property is located at 257 N 8th St Cottage Grove, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2,989‑square‑foot medical office property; New 10‑year NNN lease with Pacific ClearVision Institute planned at closing; Corporate lease guarantee; tenant has operated in the greater Eugene, OR market since 1989
