Olympic Medical Center eyes orthopedic clinic purchase
Keith Thorpe/Peninsula Daily News
The Olympic Medical Physicians Orthopaedic Clinic building at 1004 E. Caroline St. in Port Angeles is being considered for purchase by Olympic Medical Center for use as an administrative building.
By Rob Ollikainen
Peninsula Daily News
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A recent assessment determined that the fair market value of the building is $614,000, Chief Executive Officer Eric Lewis said.
OMC is paying about $51,000 per year to use the 2,908-square foot space, which is owned by Dr. Dirk Gouge, an orthopedic surgeon with Olympic Medical Physicians.
The clinic has five exam rooms and sits in the heart of OMC's Port Angeles campus at the corner of Caroline and Washington streets. It complements the OMC orthopedic clinic in Sequim.
“We have worked with finance and the board budget committee, and we are recommending a proposed purchase and sale agreement to buy this building for the appraised value for $614,000, which is roughly an 8 percent return on our money,” Lewis told hospital commissioners Wednesday.
Consideration next month
The seven OMC commissioners will consider purchasing the building using 2013 debt funds at their Sept. 3 board meeting.
“We'll start saving about $4,000 a month in cash flow and expense as soon as we own it, and we've determined that we really have a long-term need for that building and land,” Lewis said.
When Commissioner John Beitzel questioned the condition of the building, Lewis said he would rate it as “OK to good.”
“We've done improvements working with the current owner,” Lewis said.
“The appraisal was basically an as-is appraisal. But it's certainly a functioning clinic, and I think there's no major repairs that have to be done right now.”
Several years from now, the clinic may be converted into an administrative building.
“I think we'll find lots of uses for the building over the next 20 years, and certainly the land fits well within our long-term plans,” Lewis said.
Reporter Rob Ollikainen can be reached at 360-452-2345, ext. 5072, or at email@example.com.
Last modified: August 21. 2014 5:45PM