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Pacific ClearVision Institute 257 N 8th St 2,989 SF Office Building Cottage Grove, OR 97424 $1,250,000 ($418.20/SF) 6% Cap Rate
Investment Highlights
- NNN Lease: Pacific ClearVision Institute will sign a brand new 10-year NNN lease at closing with limited landlord responsibilities.
- 2% annual rent increases provide contractual rent growth, offering 20% rent growth and an average yield of 6.55% over the firm lease term.
- Cottage Grove boasts an impressive 2.3% vacancy rate, highlighting the demand for medical space.
- The lease is fully guaranteed by Pacific ClearVision Institute, who has operated in the greater Eugene, OR market since 1989 with two total locations.
- A new 60 mil TPO membrane roof was installed in 2024 with a 5-yr transferrable warranty, minimizing future landlord capital expenditure responsibility
- Located just off Hwy 99 (11,200 VPD) and E Main St (11,400 VPD), surrounded by major retailers Safeway, Walgreens, AF, Verizon, and Domino's
Executive Summary
The Offering presents the opportunity to acquire a single-tenant NNN healthcare investment leased to an eye care practice with a 35+ year operating history in the greater Eugene, OR market. Pacific ClearVision Institute will execute a new 10-year NNN lease at closing, featuring 2% annual rent increases and providing contractual income growth throughout the initial term and each of the two five-year renewal options.
The investment provides investors with durable healthcare real estate as the Eye Care industry reached a market value of $69.5B in 2025, up 4.4% from the previous year. According to The Vision Council, approximately 94% of U.S. adults, or 250 million people, regularly use some form of eyewear.
Cottage Grove is a growing submarket of Eugene, with a $14M+ revitalization project recently completed in the downtown core that will benefit the business district in which Pacific ClearVision Institute operates. Cottage Grove boasts an impressive 2.3% vacancy rate for medical office properties, with no new medical office space currently under construction.
The investment provides investors with durable healthcare real estate as the Eye Care industry reached a market value of $69.5B in 2025, up 4.4% from the previous year. According to The Vision Council, approximately 94% of U.S. adults, or 250 million people, regularly use some form of eyewear.
Cottage Grove is a growing submarket of Eugene, with a $14M+ revitalization project recently completed in the downtown core that will benefit the business district in which Pacific ClearVision Institute operates. Cottage Grove boasts an impressive 2.3% vacancy rate for medical office properties, with no new medical office space currently under construction.
Property Facts
Sale Type
Investment NNN
Sale Condition
Business Value Included
Property Type
Office
Property Subtype
Medical
Building Size
2,989 SF
Building Class
B
Year Built
1960
Price
$1,250,000
Price Per SF
$418.20
Cap Rate
6%
NOI
$75,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,989 SF
Building FAR
0.23
Lot Size
0.30 AC
Zoning
RC - Residential Commercial
Parking
12 Spaces (4.14 Spaces per 1,000 SF Leased)
Amenities
- Reception
- DDA Compliant
- Air Conditioning
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0892446 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $238,670 |
Property Taxes
Parcel Number
0892446
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$238,670
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Pacific ClearVision Institute | 257 N 8th St
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