For Sale
$1,925,000

450 Greenwood AveRedmond, OR 97756

High-yield medical office investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 6,833 square foot medical office building, constructed in 2006, is situated on a 0.5-acre lot in Redmond, Oregon's Central Business District (C2 zoning). Currently leased to Proactive Physical Therapy under a single-tenant lease with three years remaining, the property boasts a strong 6.47% cap rate and a net operating income (NOI) of $124,557. The asking price is $1,925,000, translating to $281.72 per square foot. The building features a highly improved physical therapy clinic, including an indoor pool, and benefits from excellent visibility and high traffic counts (7,482 AADT in 2022) along NW 5th Street. Its convenient location places it within close proximity to Redmond's medical district. On-site parking accommodates two vehicles. This presents a stable investment opportunity in a desirable location with a proven tenant. The lease is a per square foot monthly rate.

Highlights

  • Single-tenant medical office building in Redmond, OR.
  • 6.47% cap rate offering a stable investment.
  • Well-maintained physical therapy clinic featuring an indoor pool.
  • Excellent visibility and high traffic counts (7,482 AADT 2022) on NW 5th Street.
  • Convenient location near Redmond's medical district.
  • Leased to Proactive Physical Therapy with three years remaining on the lease.

Property Details for 450 Greenwood Ave

Property type
Office properties, Medical offices
Square Feet
6,833 SF
Year Built
2006
Lot Size (sq. ft)
21,780 SF

Location Insight

City
Redmond
County
Deschutes
State
Oregon
Latitude
44.2815537
Longitude
-121.1729686
450 Greenwood Ave, Redmond, Oregon

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450 Greenwood Ave
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