Built-Out Dental/Medical
For Sale
$249,000
50 S Pickett St Unit 118, Alexandria, VA 22304
Move-in-ready dental/medical suite with existing buildout for qualified practices.
Property Size616 SF
Price / SF$404.22
Days on Market48
Property Features for 50 S Pickett St Unit 118
General Information
Standard status
Active
Size
616 SF
Building Details
Year Built
1988
Listing Agency:
LPT Realty, LLC
Listed By:
KATIE WEDGE · License #0225190824
(877) 366-2213
Source:
Kandorre
Added: Jul 21
Changed: Aug 10
Last Checked: Sep 5 at 11:49AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale office space is already built out as a dental/medical office. The unit is positioned for medical use and is described as ready for the next dental professional, with equipment noted as sold separately.
The property is located in a center near the intersection with Duke Street, where the overall mix includes retail, medical, and general office uses.
The seller indicates possible seller financing limited to equipment only, and the listing also references suitability for dental specialties such as periodontics, endodontics, orthodontics, prosthodontics, and oral surgery.
The property is located in a center near the intersection with Duke Street, where the overall mix includes retail, medical, and general office uses.
The seller indicates possible seller financing limited to equipment only, and the listing also references suitability for dental specialties such as periodontics, endodontics, orthodontics, prosthodontics, and oral surgery.
Key Highlights
- Year built: 1988
- Move‑in‑ready dental/medical space with existing buildout for qualified practices
- Already set up as a dental/medical office for sale
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
$9,662
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
3.88%
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%
$193,240
$193.2K
Cap Rate 7%
$138,029
$138.0K
Cap Rate 9%
$107,356
$107.4K
Market Conditions
NOI Build-Up for 616 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
$17.2K $27.96/SF
− Vacancy
−$1.1K −$1.82/SF
EGI
$16.1K $26.14/SF
− OpEx
−$6.4K −$10.46/SF
NOI
$9.7K $15.69/SF
Area
Alexandria, 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%
$193,240
Cap Rate 7%
$138,029
Cap Rate 9%
$107,356
Alternative Uses
Best Use
Healthcare Medical
$138.0K
$120.8K – $161.0K
NOI $9,662 @ 7.0% cap · market cap 3.88%
Second Best
Office B
$117.8K
$103.1K – $137.5K
NOI $8,248 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$342.1K
$299.4K – $399.2K
NOI $23,950 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Elpaw Veterinary Clinic — 318 S Pickett St, Alexandria, VA 22304
- Caring Hands Animal Hospital - Alexandria — 295 S Van Dorn St, Alexandria, VA 22304
- Dr. Tracy Pearce — 33 S Pickett St, Alexandria, VA 22304
- Veterinary Emergency Group — 4525 Duke St, Alexandria, VA 22304
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in-ready dental/medical suite with existing buildout for qualified practices.
Where is this medical office space located?
The property is located at 50 S Pickett St Unit 118 Alexandria, VA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Year built: 1988; Move‑in‑ready dental/medical space with existing buildout for qualified practices; Already set up as a dental/medical office for sale
