1890 NW 6th St - Health Care FOR SALE


Grants Pass, OR 97526
$2,900,000 USD
312-240-0162
1890 NW 6th St, Grants Pass, OR for Sale
$2,900,000 USD
Health Care - FOR SALE
1/8
null | 6.35% Cap Rate

1890 NW 6th St
Grants Pass, OR 97526


HIGHLIGHTS

  • COMMUNITY CARE PARTNERS CORPORATE LEASE GUARANTY
  • LONG-TERM NNN LEASE WITH TENANT RESPONSIBLE FOR ROOF
  • ANNUAL 2.00% RENTAL INCREASES | BRAND NEW 2023 CONSTRUCTION
  • INVESTMENT OPPORTUNITY IN RAPIDLY GROWING URGENT CARE INDUSTRY
  • ONE OF ONLY TWO URGENT CARE FACILITIES IN REGION
  • DENSELY POPULATED & AFFLUENT SUBMARKET | RAPIDLY GROWING REGION

OVERVIEW

Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale, the fee-simple interest in the single-tenant urgent care facility located at 1890 Northwest 6th Street in Grants Pass, Oregon (the “Property”). The Property is leased to Community Care Partners, LLC, DBA BestMed Urgent Care, and corporately guaranteed by CCP Holdings, LLC. BestMed is a leading provider of urgent care, primary care, and occupational medicine services in the Western U.S. with 37 clinics across five states. BestMed is a part of the Community Care Partners network, a physician-owned and managed group of urgent care and primary care clinics that currently operates 97 facilities under four banners across seven states and is one of the fastest-growing companies in the country with 387% growth over the last three years. Community Care Partners is the 10th-largest independent urgent care operator in the U.S. as of May 2024. Built in 2023, the Property is operating under a new 15-year NNN lease running through January 2038, followed by two, five-year option periods. The lease features virtually no Landlord responsibility (structural obligations largely mitigated given new construction) and includes 2.00% annual rental increases. The Property is positioned along a three-lane state highway (Oregon Hwy 99) two blocks from the I-5 Interchange (28,400+ VPD). The retail market is dense, with no developable land remaining in the immediate area. Recent developments nearby include a new Hampton Inn & Suites as well as In-n-Out Burger’s second location in the state of Oregon. Additionally, BestMed is one of only two urgent care facilities within a 26-mile radius, the only facility operated under a national banner, and the only freestanding facility with roadway frontage. The City of Grants Pass has grown by double-digit percentages in fourteen of the last fifteen decades, including 13.5% growth from 2010 to 2020 and 124.1% over the last 30 years. It has never experienced a population loss decade-over-decade since record-keeping began in 1880.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$896 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BestMed Urgent Care

PROPERTY TYPE

Health Care

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

-

APN/PARCEL ID

R307653

ASK ABOUT THIS PROPERTY

Brandon DuffNorthmarqMore Info
312-240-0162

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Brandon DuffNorthmarqMore Info
312-240-0162

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