Former Hospital, Medical Office Building and Parking Structure to be Sold to the Highest Bidder at or above $3,500,00
On Wednesday, June 26, 2013, CBRE Auction Services is pleased to present for online auction the Former Pocatello Hospital Campus (the “Property”). The Property consists of a six-story, ±182,882 square foot former hospital, a five-story, ±103,260 square foot multi-tenant medical office building and a seven-story attached parking structure located at 651 Memorial Drive in Pocatello, Bannock County, Idaho. The former hospital, medical office building and parking structure are all connected via a sky bridge.
Discount to Replacement Cost – The Property will be sold to the highest bidder at or above $3,500,000, well below replacement cost.
Existing Infrastructure – The medical office building and former hospital have significant building and infrastructure improvements that can meet a wide variety of needs.
Re-use Opportunity – The Property could be a candidate for re-use opportunities which may include student housing, specialty higher education, hospice home, senior/assisted living and more.
Value-Add – The medical office building is currently 27.23% leased and occupied, providing tremendous upside potential to the astute investor.
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