CAP Rate: 5.50%
Net Operating Income: $363,504
Lot Size: 1.35 AC
Year Built: 2014
The subject offering is a fee simple interest in a net leased Fresenius Kidney Care Center in Gresham (Portland), Oregon. The net lease calls for minimal landlord obligations. The tenant has 1.7% annual increases in rent and three 5 year options to renew. The 11,000 square-foot building has a 15 year roof warranty.
The building was build-to-suit for Fresenius in 2014 and was built as a relocation of an existing clinic. It consist of 26 chairs/stations serving between 107 and 117 patients. This unit is at capacity with a wait list over one month long. The site has two regional hospitals in the area, Kaiser Permanente Rockwood Medical and Legacy Mount Hood Medical Center.
Gresham is a city located in Multnomah County, Oregon, in the United States, immediately east of Portland.
Gresham is located twelve miles from downtown Portland; the dividing line between Portland and Gresham’s city limits is at SE 162nd Avenue. Gresham’s north and south borders are divided along U.S. Route 26, also known as the Mount Hood Highway, which begins on its western border along Powell Boulevard, then continues on Burnside Street before returning to the Mount Hood Highway in east Gresham. The city is located roughly seventy miles east of the Oregon Coast.