74B Centennial Loop Eugene, OR 97401

Property Details for 74B Centennial Loop

Year built

1997

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a fully leased, single-story medical office building totaling 26,487 net rentable square feet. Located at 74B Centennial Loop in Eugene, Oregon (zip code 97401), this property boasts a prime location on a high-traffic corridor connecting Eugene and Springfield, with convenient access to Interstate 5 and major medical facilities including PeaceHealth Sacred Heart Medical Center Riverbend and McKenzie-Willamette Hospital. Built in 1997, the building features a C-2 Community Commercial zoning designation and offers ample on-site parking for tenants and visitors (58 spaces, with allocated parking for specific tenants). The property is currently 100% occupied, with an occupancy date of March 1st, 2024, generating a pro-forma NOI of $662,378 and a pro-forma cap rate of 6.97%. The asking price is $9,500,000, representing a 7.00% cap rate. The building comprises multiple suites, with Suite 100 offering 11,592 rentable square feet (10,074 usable), Suites 200 & 300 totaling 12,129 rentable square feet (10,541 usable), and Suite 400 encompassing 2,766 rentable square feet (2,487 usable). Please note that the property is situated in FEMA Flood Hazard Zone AE. The Lane County Assessor's Tax Map & Lot Number is 17-03-29-31-00600. This is a rare opportunity to acquire a high-performing medical office building in a thriving market.

Location Insight

City

Eugene

County

Lane

State

Oregon

Longitude

-123.076

Latitude

44.0617