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Key Details
Sold Price $750,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 1,993 sqft
Price per Sqft $376
Subdivision Sherwood Hall Med Cent
MLS Listing ID VAFX2119978
Sold Date 06/16/23
Originating Board BRIGHT
Year Built 1976
Annual Tax Amount $5,309
Tax Year 2023
Property Description
Long-term, income-producing investment opportunity of a medical suite occupied by a
successful gastroenterology practice with 20+ year history! The suite offers a modern and professional layout with a reception desk, waiting area, four exam rooms, nurses' station, procedure room, open recovery area, break room, scheduling/IT room, and two restrooms. There is a corner, windowed office for physicians/providers. The property is two connected condos (#203 and #204, total 1,993 SF together) and occupies one corner of the second floor in a well-maintained low-rise medical/dental office building in Alexandria. The building offers amenities such as a glass-door entrance and upscale lobby, elevators, restrooms, and a large parking lot. Other medical tenants in the same building include urology, dermatology, physical therapy, women's health, chiropractic, oral surgery, psychiatry, a pharmacy, primary care, and pediatrics, among others. This medical office building is in a high-traffic area of Hybla Valley, Alexandria with excellent visibility near the INOVA Mt. Vernon Hospital. Immediate income is provided by the current, long-term Triple Net lease with a stable, nationally recognized medical practice. Current rent of $4,718 will adjust to $4,860 on 5/1/23. Priced to sell at 7.5% cap rate. The current lease expires 4/30/29 with an option to extend for 10 more years. Sale offering is for both suites, 203 and 204, only. Sale is of real property only and subject to the existing leasehold interest. Tax values and tax assessments shown are #203 and #204 added together.
Location
State VA
County Fairfax
Zoning 496
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 14.0
Water Access N
Accessibility Elevator
Total Parking Spaces 14
Garage N
Building
Lot Description Backs to Trees
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Fairfax County Public Schools
Others
Tax ID 1021 35 0203 & 0204
Ownership Condominium
Special Listing Condition Standard
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Bought with Allison S Graves • Coldwell Banker Elite
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Bob Gauger
Broker Associate | License ID: 312506
Broker Associate License ID: 312506