Medical Office Condo
For Sale
Contact for pricing
7501 Right Flank Rd, Mechanicsville, VA 23116
8,100± SF medical condo/offices with plumbing throughout, offered for sale or lease within Bell Creek Square.
Property Size8,100 SF
Price / SF$220
Days on Market674
Property Features for 7501 Right Flank Rd
General Information
Standard status
Active
Size
8,100 SF
Property subtype
OFFICE
Lease Type
NNN
Additional Details
Highway Access
Yes
Listing Agency:
Commonwealth Commercial
(804) 346-4966
Listed By:
Russell Wyatt · License #0225042655
(804) 433-1817
Source:
Moodyscre
Added: Dec 23, 2024
Changed: Oct 26
Last Checked: Oct 28 at 8:24AM
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 Commonwealth Commercial
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Investment Insights
Based on property information with market context.
An 8,100± SF medical condo/office suite is available for sale or lease. The space includes plumbing throughout and has been previously occupied by Virginia Cancer Institute. Suites are available in sizes ranging from 4,000 to 8,100± SF, providing flexibility for medical-related office requirements.
The property is located in the Bell Creek Square medical/office complex, less than 2 miles from I-295. Parking is available throughout the park with a ratio of 7.4 spaces per 1,000 SF, supporting convenient patient and staff access.
This professionally managed medical office development is positioned for ongoing medical use within a dedicated medical/office environment.
The property is located in the Bell Creek Square medical/office complex, less than 2 miles from I-295. Parking is available throughout the park with a ratio of 7.4 spaces per 1,000 SF, supporting convenient patient and staff access.
This professionally managed medical office development is positioned for ongoing medical use within a dedicated medical/office environment.
Key Highlights
- 8,100± SF medical condo/office space available for sale or lease
- Plumbing throughout; previously occupied by Virginia Cancer Institute
- Suites available from 4,000–8,100± SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,837
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,016,740
$3.0M
Cap Rate 7%
$2,154,814
$2.2M
Cap Rate 9%
$1,675,967
$1.7M
Market Conditions
NOI Build-Up for 8,100 SF
Gross rent
$235.2K $29.04/SF
− Vacancy
−$34.1K −$4.21/SF
EGI
$201.1K $24.83/SF
− OpEx
−$50.3K −$6.21/SF
NOI
$150.8K $18.62/SF
Area
Hanover County, VA
Vacancy
14.50%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,016,740
Cap Rate 7%
$2,154,814
Cap Rate 9%
$1,675,967
Alternative Uses
Best Use
Office B
$2.15M
$1.89M – $2.51M
NOI $150,837 @ 7.0% cap · market cap 8.46%
Second Best
Healthcare Medical
$1.48M
$1.29M – $1.72M
NOI $103,343 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$2.44M
$2.13M – $2.85M
NOI $170,725 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 23116, VA
32,410
Population
12,246
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
96%
High-School Grad
55.0 sq mi
ZIP Area
589
Density / Sq Mi
$139,029
Median Household Income
$61,386
Median Earnings
$1,983
Median Rent
$405,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - 8,100± SF medical condo/offices with plumbing throughout, offered for sale or lease within Bell Creek Square.
Where is this medical office space located?
The property is located at 7501 Right Flank Rd Mechanicsville, VA.
What is the asking price?
The asking price for this property is $1,782,000.
What are key features of this property?
This property features: 8,100± SF medical condo/office space available for sale or lease; Plumbing throughout; previously occupied by Virginia Cancer Institute; Suites available from 4,000–8,100± SF
