700 Ramsey Ave Grants Pass, OR 97527

Property Details for 700 Ramsey Ave

Year built

2001

Lot size

5.22 lot acres

Property size

49,690 SF

Zone code

GC; GENERAL COMM

Property type

Commercial real estate

APN

36-05-19-CC-000608

APU

360519CC000608

Description

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.

Location Insight

City

Grants Pass

County

Josephine

State

Oregon

Longitude

-123.346

Latitude

42.4197

CBSA code

24420

CBSA name

GRANTS PASS, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments