147 52nd Pl Springfield, OR 97478-6210

Property Details for 147 52nd Pl

Lot size

0.55 lot acres

Zone code

CC-COMMUNITY COMMERCIAL

Property type

Commercial real estate

APN

17-02-33-31-07203-000

APU

1702333107203000

Description

Exceptional investment opportunity: a 7,809 sq ft Class B medical office building in Springfield, Oregon, currently 100% occupied by a credit-rated tenant under a 5-year Absolute NNN lease (expiring 09/01/2028, with 3.8 years remaining). The property boasts 17 exam rooms, 2 procedure rooms, 2 separate waiting rooms, lab space, ample office space, and a conference room. Features include a UV air handling system and 42 parking spaces. The building underwent renovations in 2023 and benefits from a strong location with main street signage. The current NOI is $168,908, yielding a 6.50% cap rate, with a pro-forma NOI of $190,108 and a pro-forma cap rate of 7.31%. The lease includes yearly 3% rent bumps and one lease option. The asking price is $2,600,000 ($332.95/sq ft). Zoned COM. This stabilized, single-tenant asset presents a compelling opportunity for long-term passive income. The tenant, Thurston Medical Clinic, has been a fixture in the community for over two decades.