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BSM Surgery Center 1128 NE 2nd St 24,028 SF 100% Leased Office Building Corvallis, OR 97330 $11,000,000 ($457.80/SF) 7.35% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Recession-Resistant Market: college-driven economy, sub-4% unemployment, above-average household incomes
  • 24,028 SF Total Rentable Area with 11,687 SF ASC footprint (48% of GLA)
  • Strong Academic Referral Base from Oregon State University’s athletics and student-faculty population

EXECUTIVE SUMMARY

Zeustra Healthcare Real Estate is pleased to present an institutional-quality investment in Corvallis, Oregon. This purpose-built 24,028 SF ambulatory surgery center and medical office facility sits just minutes from Oregon State University’s 32,000-student campus, fostering a reliable referral pipeline from collegiate athletics, faculty and surrounding high schools. Anchored by a Joint Commission–accredited surgery center covering 48% of rentable area and two established physician groups with over a decade of community tenure, the property delivers stable cash flow through majority triple-net leases, annual rent escalations and minimal landlord responsibilities.
Located in one of the Pacific Northwest’s most recession-resistant, education-driven markets, the asset benefits from Corvallis’s sub-4% unemployment rate, above-average household incomes and an aging-and-academic population tailwind. With seamless access to I-5, strong regional healthcare network and accelerating outpatient surgery trends, this is an ideal opportunity for investors seeking durable, inflation-protected income and mission-critical tenancy.

PROPERTY FACTS Under Contract

Sale Type
Investment NNN
Property Type
Office
Building Size
24,028 SF
Building Class
B
Year Built
1998
Price
$11,000,000
Price Per SF
$457.80
Cap Rate
7.35%
NOI
$808,354
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
12,014 SF
Building FAR
0.56
Lot Size
0.98 AC
Opportunity Zone
Yes
Zoning
PD(P-AO) - flexible zoning designation that allows for a mix of uses (e.g., commercial, residential, institutional) under a unified development plan.
Parking
70 Spaces (2.91 Spaces per 1,000 SF Leased)

AMENITIES

  • Signage
Bike Score®
Very Bikeable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
400862
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,807,386
  • Listing ID: 35955961

  • Date on Market: 5/22/2025

  • Last Updated:

  • Address: 1128 NE 2nd St, Corvallis, OR 97330

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