Investment sale with new long-term absolute net lease in place to a large (30 location) regional dental practice. Building is one of the nicest medical/dental facilities in the Mid-Valley. The subject property was constructed new in 2008. The practice was sold by the ownership group in 2015 to a well established dental practice in the region who executed a lease agreement to April 30, 2022 with two, five(5) year options to renew. The lease contains annual CPI increases beginning in 2017. The Clinic is located on first floor with a dentists private office/suite upstairs. Sales Info: ■ Cap rate: 8.13% ■ Commision split: 2.5% ■ NOI: $97,520 Location Description: N 1st Ave is the major north/south thoroughfare in Stayton. The subject property is located adjacent to the Stayton Public Library and within two blocks to grocery and to downtown. Stayton is located approximately 15 miles east of Salem, along Highway 22, and is a bedroom community of Salem. Highlights: ■ Net leased medical/dental investment ■ Lease to April 20, 2022 with CPI escalations ■ $1,200,000 ($260/SF) ■ 8.1% Cap Rate « show less
Investment sale with new long-term absolute net lease in place to a large (30 location) regional dental practice. Building is one of the nicest... show more »
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