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1225 Martha Custis Dr - Parc East
3,835 SF Medical Condo Unit Offered at $1,299,000 in Alexandria, VA 22302
Investment Highlights
- Fully built out medical suite with quality tenant in place
- Lease expiration date March 28, 2026
- Tenant pays utilities and condos fees
- Tenant in place for four year lease started in 2022
- Current tenant does not have option to renew, but is open to discussions
- Landlord pays RE tax
Executive Summary
Property is located in a well established residential neighborhood, easy access to Shirlington, Arlandria and Arlington via I-395.Sale consists of the ground floor medical condo (C-1) as an investment property.
Property Facts Under Contract
| Price | $1,299,000 | Building Class | B |
| Unit Size | 3,835 SF | Floors | 15 |
| No. Units | 1 | Typical Floor Size | 2,550 SF |
| Total Building Size | 354,255 SF | Year Built | 1980 |
| Property Type | Multifamily (Condo) | Lot Size | 10.40 AC |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Sale Type | Investment | Sale Conditions | 1031 Exchange |
| Price | $1,299,000 |
| Unit Size | 3,835 SF |
| No. Units | 1 |
| Total Building Size | 354,255 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Sale Type | Investment |
| Building Class | B |
| Floors | 15 |
| Typical Floor Size | 2,550 SF |
| Year Built | 1980 |
| Lot Size | 10.40 AC |
| Parking Ratio | 0.56/1,000 SF |
| Sale Conditions | 1031 Exchange |
1 Unit Available
Unit C-1
| Unit Size | 3,835 SF | Sale Status | Under Contract |
| Price | $1,299,000 | Cap Rate | 7.68% |
| Price Per SF | $338.72 | NOI | $99,732.60 |
| Condo Use | Medical | Sale Conditions | 1031 Exchange |
| Sale Type | Investment |
| Unit Size | 3,835 SF |
| Price | $1,299,000 |
| Price Per SF | $338.72 |
| Condo Use | Medical |
| Sale Type | Investment |
| Sale Status | Under Contract |
| Cap Rate | 7.68% |
| NOI | $99,732.60 |
| Sale Conditions | 1031 Exchange |
Description
Fully leased medical condo for sale as a core investment opportunity in Alexandria, VA. Tenant in place is Neighborhood Health, a Community Health Center that has served Alexandria, Arlington, and Fairfax for over 24 years. Property is located in a well established residential neighborhood, easy access to Shirlington, Arlandria, and Arlington via I-395.
Sale Notes
Rare investment opportunity of a fully leased medical condo in Alexandria, VA. Tenant is a well established Community Health Center 501(c)(3) organization with 14 other locations in the Northern Virginia area. Ideal investment opportunity or 1031 exchange property.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 150 | - | 815 |
Amenities
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Tennis Court
- Gated
- Basketball Court
- Grill
- Maid Service
- Package Service
- Planned Social Activities
- Elevator
zoning
| Zoning Code | RB |
| RB |
-
Michael Porterfield -
Tartan Properties Commercial
Presented by
1225 Martha Custis Dr - Parc East
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