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5555 NE Elam Young Pky
Hillsboro, OR 97124
Providence Medical Center · Office Property For Sale
Investment Highlights
- The tenant operates on a NNN lease, minimizing landlord responsibilities. The lease includes annual CPI-based rent increases.
- The tenant has occupied the space since 2004 and recently exercised a 5-year option, extending firm term through 2029.
- An affluent suburb of Portland, Hillsboro’s workforce is made up of predominantly white-collar workers
- Leased to Providence Health System, rated “A3” by Moody’s with $27 billion in annual revenue.
- The Property is situated less than a mile from Orenco Station, a 135-acre live-work-play development
- Current ownership is open to providing seller financing at terms more favorable than traditional lenders. Contact Northmarq for more information.
Executive Summary
The Offering presents an inflation-hedged investment opportunity with a well-established tenant operating on a NNN lease, ensuring minimal landlord responsibilities. The lease structure includes annual CPI-based rent escalations, providing a natural hedge against inflation. The tenant’s long-term commitment to the property is evidenced by its occupancy since 2003 and the recent exercise of a five-year renewal option, securing tenancy through 2029. Additionally, the property is situated in Hillsboro, OR, an affluent Portland suburb where average household incomes exceed $166,000 within a mile of the Property, supported by a predominantly white-collar workforce.
Strategically located less than a mile from Orenco Station, a 135-acre mixed-use development, the property benefits from proximity to nearly 2,000 residential units and Portland’s MAX Light Rail, which serves over 70,000 daily riders. This has translated to strong visitor traffic, with this Providence location ranking 9th out of 40 locations in the state for total visits (Placer.Ai). Additionally, seller financing may be available under terms more favorable than traditional lenders, offering a unique advantage to prospective buyers. Contact Northmarq for further details on financing options and investment opportunities.
Strategically located less than a mile from Orenco Station, a 135-acre mixed-use development, the property benefits from proximity to nearly 2,000 residential units and Portland’s MAX Light Rail, which serves over 70,000 daily riders. This has translated to strong visitor traffic, with this Providence location ranking 9th out of 40 locations in the state for total visits (Placer.Ai). Additionally, seller financing may be available under terms more favorable than traditional lenders, offering a unique advantage to prospective buyers. Contact Northmarq for further details on financing options and investment opportunities.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
15,250 SF
Building Class
B
Year Built
2003
Price
$7,315,000
Price Per SF
$479.67
Cap Rate
7.10%
NOI
$519,365
Tenancy
Single
Building Height
1 Story
Typical Floor Size
15,250 SF
Building FAR
0.35
Lot Size
1.00 AC
Zoning
MFR1, Hillsboro
Property Taxes
| Parcel Number | R2108565 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,018,930 |
Property Taxes
Parcel Number
R2108565
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,018,930
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