Medical Office Suite with Exam
For Sale
$398,000
10535 CRESTWOOD DRIVE #101, Manassas, VA 20109
Built in 2004, the suite includes three private exam rooms, an open exam/procedure area, and two waiting areas.
Property Size1,607 SF
Price / SF$247.67
Days on Market56
Property Features for 10535 CRESTWOOD DRIVE #101
General Information
Standard status
Active
Size
1,607 SF
Property subtype
Commercial
Amenities
3 Private Exam Rooms
Open Exam/Procedure Space
Separate Private Office
Reception Area
2 waiting room areas
Break-room with Refrigerator
2 Bathroom (1 handicap accessible)
Building Details
Year Built
2004
Construction
brick
Listing Agency:
M.O. Wilson Properties
(703) 878-0000
Listed By:
Sherry Denise Lewis · License #0225248279
(434) 242-2335
Source:
Cummingsrealtors
Added: Jul 14
Changed: Sep 6
Last Checked: Sep 7 at 7:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of M.O. Wilson Properties
Investment Insights
Based on property information with market context.
Constructed in 2004, this brick medical office suite is presented in very good condition. The interior layout includes three private exam rooms and an open exam/procedure space, along with a separate private office and a reception area. Two waiting room areas support a comfortable patient flow, and the space also features a break room with a refrigerator. There are two bathrooms, including one handicap-accessible restroom.
The suite’s finishes include carpet, ceramic tile, and engineered wood flooring. Paved parking is available, supporting client and employee access.
The unit is positioned as a practical, ready-to-occupy medical office configuration, with exam and support rooms designed for healthcare operations.
The suite’s finishes include carpet, ceramic tile, and engineered wood flooring. Paved parking is available, supporting client and employee access.
The unit is positioned as a practical, ready-to-occupy medical office configuration, with exam and support rooms designed for healthcare operations.
Key Highlights
- Commercial building built in 2004, previously used as an urgent care center
- Layout includes 3 private exam rooms and an open exam/procedure space
- Includes separate private office, reception area, and 2 waiting room areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,207
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$504,140
$504.1K
Cap Rate 7%
$360,100
$360.1K
Cap Rate 9%
$280,078
$280.1K
Market Conditions
NOI Build-Up for 1,607 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.9K $27.96/SF
− Vacancy
−$2.9K −$1.82/SF
EGI
$42.0K $26.14/SF
− OpEx
−$16.8K −$10.46/SF
NOI
$25.2K $15.69/SF
Area
Manassas Park County, VA
Vacancy
6.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$504,140
Cap Rate 7%
$360,100
Cap Rate 9%
$280,078
Alternative Uses
Best Use
Healthcare Medical
$360.1K
$315.1K – $420.1K
NOI $25,207 @ 7.0% cap · market cap 6.33%
Second Best
Office B
$307.4K
$269.0K – $358.6K
NOI $21,517 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$892.6K
$781.0K – $1.04M
NOI $62,480 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 20109, VA
43,849
Population
15,673
Households
2.8
Avg Household Size
32
Median Age
35%
College-Educated
83%
High-School Grad
23.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$88,966
Median Household Income
$44,306
Median Earnings
$1,928
Median Rent
$411,700
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2004, the suite includes three private exam rooms, an open exam/procedure area, and two waiting areas.
Where is this medical office space located?
The property is located at 10535 CRESTWOOD DRIVE #101 Manassas, VA.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Commercial building built in 2004, previously used as an urgent care center; Layout includes 3 private exam rooms and an open exam/procedure space; Includes separate private office, reception area, and 2 waiting room areas
