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1410 Incarnation Dr - Branchlands Professional Center
15,340 SF Office/Medical Condo Unit Offered at $3,450,000 in Charlottesville, VA 22901
Investment Highlights
- Attractive for investors & 1031 exchange purchasers.
- Well located in Seminole Trail(US Route29) business corridor.
- Major tenant is a successful & long running sports and rehabilitation company.
- Close to retail, office, medical care facilities & residential areas.
Executive Summary
This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium is approximately 15,340 sq. ft. A sports and medical rehabilitation facility occupy approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,050 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 day written notice. The balance of the condominium, approximately 3,100 sq. ft., is occupied by the owners, and has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person who works for the business that occupies the larger area of the condominium. Additionally, this smaller section of the condominium my be rented as an office/business space. Please contact agent for additional details and questions.
Property Facts
1 Unit Available
Unit 101
| Unit Size | 15,340 SF | Cap Rate | 7.17% |
| Price | $3,450,000 | NOI | $247,365 |
| Price Per SF | $224.90 | No. Parking Spaces | 50 |
| Condo Use | Office/Medical | APN/Parcel ID | 061Z0-03-00-10100 |
| Sale Type | Investment or Owner User |
| Unit Size | 15,340 SF |
| Price | $3,450,000 |
| Price Per SF | $224.90 |
| Condo Use | Office/Medical |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.17% |
| NOI | $247,365 |
| No. Parking Spaces | 50 |
| APN/Parcel ID | 061Z0-03-00-10100 |
Description
This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium in approximately 15,340 sq. ft. A medical sports & rehabilitation company lease approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,050 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 days written notice. The balance of this unit, approximately 3,100 sq. ft., is occupied by the condominium owners, which has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person(s) who works for the business that occupies the main space of the condominium. Additionally, this smaller section of the condominium may be rented as an office/business space. Please contact agent for additional details and questions.
Sale Notes
Investors and 1031 exchange purchasers. This property will fit well into your portfolio. Approximately 12,000 sq. ft. of this unit is under a five(5) year, triple net lease to a sports and medical rehabilitation company with the first year base rent at $17,050 per month. The base rent escalates every January by one and one half(1.50%) percent. The remaining 3,000+/- sq. ft. of this unit is currently occupied by the owners of the condominium.
Major Tenant Information Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| sports & medical rehabilitation facility |
99,999 SF SF
|
Jan 0000
|
Amenities
- Bus Line
- Controlled Access
- Kitchen
- Central Heating
- Open-Plan
- Drop Ceiling
- Air Conditioning
zoning
| Zoning Code | PUD Planned Unit Developm (Planned Unit Development) |
| PUD Planned Unit Developm (Planned Unit Development) |
-
David Cooke -
Long & Foster Real Estate, Inc.
Presented by
1410 Incarnation Dr - Branchlands Professional Center
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