1813 W Harvard Ave - Medical FOR SALE


Roseburg, OR 97471
$14,300,000 USD
503-210-4068
1813 W Harvard Ave, Roseburg, OR for Sale
$14,300,000 USD
Medical - FOR SALE
1/9
null | 8.8% Cap Rate

1813 W Harvard Ave
Roseburg, OR 97471


HIGHLIGHTS

  • Value-Add Investment – The Property is currently 82% occupied with the ownership group signing 13 new leases in 2024
  • Location – Located directly off the I-5 freeway on Harvard Ave. The Property is just two miles south of the region’s major hospital system, Chi Mercy
  • Historical Occupancy – 41% of the GLA has occupied the premises for over 10 years
  • Low Competition – Located in a market with low 5% medical office vacancy rate and no new medical office space under construction or delivered recently
  • Cashflow - The Property offers strong cash-on-cash return of 10%

OVERVIEW

The offering provides the opportunity to acquire the Harvard Medical Park, a 82% occupied medical office park located in Roseburg, Oregon. The Property features a strong tenant mix with approximately 88% of current occupancy leased to medical providers and about 12% leased to related medical administrative tenants. Long historical occupancy and recent extensions from anchor tenants like Mercy Medical Center, Advanced Skin Center, and ABCT, Inc reflect tenant commitment in a market with under 1M SF of medical office space and no new medical office space under construction. New leases from Evergreen Health and Roseburg Foot & Ankle further highlight the tight medical office market in Roseburg where the vacancy rate is sub 5%. Harvard Medical Park is well located in the Roseburg market, two miles south of CHI Mercy Medical Hospital and with immediate access to the I-5 freeway. Current vacancies and below-market rents near term expiration provide an investor significant upside to increase cash flow immediately. In a market with low medical office vacancy, the offering provides a true value-add opportunity to investors.

FOR SALE DETAILS

PRICE

$14,300,000 USD

PRICE/SF

$151 USD /SF

CAP RATE

8.8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harvard Medical Park

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

466

LAND DETAILS

LAND ACRES

4.71 AC

LAND SF

205,168 SF

ZONING

Professional Office

APN/PARCEL ID

R19817

ASK ABOUT THIS PROPERTY

Michael KapnickNorthmarqMore Info
503-210-4068

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Michael KapnickNorthmarqMore Info
503-210-4068

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.