Medical Office
For Sale
$3,522,500
1249 W Broad St, Falls Church, VA 22046
Medical office property offered for sale in Falls Church, Virginia.
Property Size6,000 SF
Price / SF$587.08
Days on Market40
Property Features for 1249 W Broad St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Single-Tenant Office Medical
Lease Type
Absolute Net
Amenities
Absolute Net Lease - This investment offers a completely passive, long-term opportunity for both local and national investors who want zero landlord responsibilities.
Strong MSA Market - Falls Church is located within the Suburban Virginia, just outside of Washington D.C-Arlington-Alexandria.
Dense, Affluent Demographics - With 393,600+ residents and 154,000+ households within 5 miles, there is an ample customer base for the tenant.
Corporate Guarantee - The property includes a corporate guarantee from Veterinary Innovative Partners, which owns over 70 veterinary clinics and hospitals across 12 states.
Veterinary Market Growth - The U.S. veterinarians market was valued at $11.92 billion in 2022, and it's projected to grow at a CAGR of 8.7% from 2023 to 2030 (Grand View Research).
Building Details
Building Size
6,000 SF
Listing Agency:
Marcus & Millichap - Austin
(512) 338-7872
Listed By:
Douglas Diffie · License #License(s): TX: 656858
(512) 338-7872
Source:
Marcusmillichap
Added: Jul 22
Changed: Aug 29
Last Checked: Aug 29 at 1:10PM
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 Marcus & Millichap - Austin
Investment Insights
Based on property information with market context.
This medical office property is offered for sale at 1249 W Broad St in Falls Church, Virginia. The property information identifies 6,000 as its stated property size.
Key Highlights
- Medical office property offered for sale
- Located at 1249 W Broad St, Falls Church, VA 22046
- Stated property size of 6,000
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
$113,578
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
3.22%
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%
$2,271,560
$2.3M
Cap Rate 7%
$1,622,543
$1.6M
Cap Rate 9%
$1,261,978
$1.3M
Market Conditions
NOI Build-Up for 6,000 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
$177.1K $29.52/SF
− Vacancy
−$25.7K −$4.28/SF
EGI
$151.4K $25.24/SF
− OpEx
−$37.9K −$6.31/SF
NOI
$113.6K $18.93/SF
Area
Fairfax County, VA
Vacancy
14.50%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
25.00%
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%
$2,271,560
Cap Rate 7%
$1,622,543
Cap Rate 9%
$1,261,978
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.89M
NOI $113,578 @ 7.0% cap · market cap 3.22%
Second Best
Healthcare Medical
$1.56M
$1.37M – $1.82M
NOI $109,331 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$25.15M
$22.01M – $29.34M
NOI $1,760,535 @ 7.0% cap · market cap 49.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 22046, VA
18,576
Population
7,303
Households
2.5
Avg Household Size
40
Median Age
76%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,880
Density / Sq Mi
$175,446
Median Household Income
$83,566
Median Earnings
$2,216
Median Rent
$963,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Value Vet- By Appointment — 1053 W Broad St, Falls Church, VA 22046
- Michele Kelly, D.V.M. — 1249 W Broad St, Falls Church, VA 22046
- Falls Church Animal Hospital — 1249 W Broad St, Falls Church, VA 22046
- Veterinary Emergency Group — 7500 Leesburg Pike Suite 11, Falls Church, VA 22043
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property offered for sale in Falls Church, Virginia.
Where is this medical office space located?
The property is located at 1249 W Broad St Falls Church, VA.
What is the asking price?
The asking price for this property is $3,522,500.
What are key features of this property?
This property features: Medical office property offered for sale; Located at 1249 W Broad St, Falls Church, VA 22046; Stated property size of 6,000
