Medical Building in Prince
For Sale
$6,250,000
1775 Lake Harley Drive, Prince George, VA 23875
Medical building with long-term tenant in Prince George County.
Property Size15,600 SF
Price / SF$400.64
Days on Market320
Property Features for 1775 Lake Harley Drive
General Information
Standard status
Active
Size
15,600 SF
Class
A
Property subtype
Office
Building Details
Building Size
15,600 SF
Year Built
2019
Listing Agency:
NAI Dominion
Listed By:
Christopher Rice
(804) 513-6162
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 7
Last Checked: Oct 5 at 3:43PM
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 NAI Dominion
Investment Insights
Based on property information with market context.
This medical building, located in Prince George County, Virginia, within the Richmond Metropolitan Statistical Area, features eight doctor PODs, advanced medical equipment, and conference facilities. It also includes an open reception area and ample parking. The building is constructed with high-quality mechanical, electrical, and plumbing engineering and design. The property has a rentable area of 15,455 square feet and a gross area of 15,600 square feet. The tenant is Virginia Physicians for Women, LTD, with a net operating income (NOI) of $394,102.50 for the first year. The base rent for the first year is $25.50 per square foot, NNN, and the lease term is 12 years, with an annual escalation of 2.5%.
Key Highlights
- NNN Lease with Virginia Physicians for Women, LTD
- Benefit from a 12‑Year Lease Term
- $394,102.50 NOI in Year 1 with 2.5% Annual Escalation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,748
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,474,960
$4.5M
Cap Rate 7%
$3,196,400
$3.2M
Cap Rate 9%
$2,486,089
$2.5M
Market Conditions
NOI Build-Up for 15,600 SF
Gross rent
$406.2K $26.04/SF
− Vacancy
−$33.3K −$2.14/SF
EGI
$372.9K $23.90/SF
− OpEx
−$149.2K −$9.56/SF
NOI
$223.7K $14.34/SF
Area
Prince George County, VA
Vacancy
8.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,474,960
Cap Rate 7%
$3,196,400
Cap Rate 9%
$2,486,089
Alternative Uses
Best Use
Healthcare Medical
$3.20M
$2.80M – $3.73M
NOI $223,748 @ 7.0% cap · market cap 3.58%
Second Best
Office B
$3.00M
$2.62M – $3.50M
NOI $209,741 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $252,289 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23875, VA
11,791
Population
5,013
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
35.6 sq mi
ZIP Area
331
Density / Sq Mi
$76,596
Median Household Income
$43,432
Median Earnings
$1,238
Median Rent
$254,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical building with long-term tenant in Prince George County.
Where is this medical office space located?
The property is located at 1775 Lake Harley Drive Prince George, VA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: NNN Lease with Virginia Physicians for Women, LTD; Benefit from a 12‑Year Lease Term; $394,102.50 NOI in Year 1 with 2.5% Annual Escalation
