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    700 Ramsey Ave Grants Pass, OR 97527

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    Multi-tenant medical office, 75% occupied

    Property size:
    45,949 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fee-simple medical office building in Grants Pass, Oregon, totals 45,949 square feet and sits on a 5.86-acre lot. Built in 2003, it boasts 224 parking spaces and features a multi-tenant occupancy with 75% occupancy rate. The property generates a Net Operating Income (NOI) of $793,520. Five tenants occupy the space, with a majority having leases including scheduled rent increases and renewal options. A significant tenant, Asante Inc., affiliated with the adjacent Asante Three Rivers Medical Center, occupies 26% of the building and accounts for 22% of the base rent. Another key tenant, Siskiyou Pediatric, signed a 10-year lease in 2022, occupying 22% of the gross leasable area (GLA) and contributing 19% of the base rent. The property's strategic location adjacent to Asante Three Rivers Medical Center, a 125-bed hospital, fosters collaboration within a medical cluster. Its proximity to Redwood Highway (US Highway 199), a major thoroughfare with 32,000 daily vehicles, and the Allen Creek Commercial Center, an 80,000 square foot shopping center, enhances its visibility and accessibility. The 5-mile trade area supports a population of nearly 57,000 residents and over 25,000 daytime employees, with an average household income of $74,747. The property is zoned GC - General Commercial and offers potential for future expansion with excess land available for a possible third phase of development. The property's parcel numbers are 36-05-19-CC-000608 & 36-06-24-DD-001102.

    Property Features for 700 Ramsey Ave

    General Information

    Property type
    Medical offices
    Square Feet
    45,949 SF
    Lot Size
    255,262 SF

    Building Details

    Year Built
    2003

    HighLights

    • Fee‑simple medical office building totaling 45,949 square feet on a 5.86‑acre lot in Grants Pass, Oregon.
    • 75% occupancy with strong tenants, including scheduled rent increases and renewal options; $793,520 Net Operating Income (NOI).
    • Located directly across from Asante Three Rivers Medical Center, a 125‑bed hospital, with potential for future expansion.
    • Excellent location near Redwood Highway (US 199) and an 80,000 square foot shopping center; strong demographics in the 5‑mile trade area (57,000 residents, 25,000 daytime employees, $74,747 average household income).
    Property Profile Location Intelligence

    Current Use by Public Records

    Doctor's Court Medical Center Sheldon Junior Mckenzie Doctor Siskiyou Pediatric Clinic ... Pediatrician Katherine Rutherford, WHCNP Nurse Practitioner Adams Melissa N ... Gynecologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grants Pass
    County
    Josephine
    State
    Oregon
    Longitude
    -123.3464901
    Latitude
    42.4197477

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    FAQs

    What type of property is this?
    Medical office - Multi-tenant medical office, 75% occupied
    Where is this medical office located?
    The property is located at 700 Ramsey Ave Grants Pass, OR.
    What are key features of this property?
    This property features: Fee-simple medical office building totaling 45,949 square feet on a 5.86-acre lot in Grants Pass, Oregon.; 75% occupancy with strong tenants, including scheduled rent increases and renewal options; $793,520 Net Operating Income (NOI).; Located directly across from Asante Three Rivers Medical Center, a 125-bed hospital, with potential for future expansion.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    700 Ramsey Ave Grants Pass, OR 97527
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