Medical Condo Near
For Sale
Contact for pricing
1850 Town Center Dr, Reston, VA 20190
Corner medical condo with a spacious reception, treatment rooms, private offices, and ADA-compliant restroom.
Property Size2,155 SF
Price / SF$371.23
Days on Market203
Property Features for 1850 Town Center Dr
General Information
Standard status
Active
Size
2,155 SF
Class
B
Property subtype
Office
Building Details
Year Built
1993
Tenancy
Single
Listing Agency:
The Genau Group
Listed By:
Fletcher Gill · License #DC PB98371620
(202) 735-5382
Source:
Crexi
Added: Feb 19
Changed: Sep 5
Last Checked: Sep 9 at 8:04AM
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 The Genau Group
Investment Insights
Based on property information with market context.
This medical condo suite is currently configured for a clinical practice and offers a spacious reception and waiting area upon entry. The interior includes four treatment rooms with sinks, along with three private offices positioned along the window line. The suite also features two means of egress and an ADA-compliant bathroom, with abundant natural light throughout as a corner unit.
The property is directly connected to Reston Hospital Center, supporting convenient access for patients and staff. The suite has a practical, patient-facing layout designed to support day-to-day appointments.
As a corner suite, it provides strong interior light exposure alongside a clear separation between the reception/waiting area, treatment rooms, and private offices within the existing medical office buildout.
The property is directly connected to Reston Hospital Center, supporting convenient access for patients and staff. The suite has a practical, patient-facing layout designed to support day-to-day appointments.
As a corner suite, it provides strong interior light exposure alongside a clear separation between the reception/waiting area, treatment rooms, and private offices within the existing medical office buildout.
Key Highlights
- Medical condo built in 1993
- Directly connected to Reston Hospital Center
- Corner suite with abundant natural light
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
$40,794
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
5.10%
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%
$815,880
$815.9K
Cap Rate 7%
$582,771
$582.8K
Cap Rate 9%
$453,267
$453.3K
Market Conditions
NOI Build-Up for 2,155 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
$63.6K $29.52/SF
− Vacancy
−$9.2K −$4.28/SF
EGI
$54.4K $25.24/SF
− OpEx
−$13.6K −$6.31/SF
NOI
$40.8K $18.93/SF
Area
Loudoun 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%
$815,880
Cap Rate 7%
$582,771
Cap Rate 9%
$453,267
Alternative Uses
Best Use
Office B
$582.8K
$509.9K – $679.9K
NOI $40,794 @ 7.0% cap · market cap 5.10%
Second Best
Healthcare Medical
$573.5K
$501.8K – $669.1K
NOI $40,143 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$675.4K
$590.9K – $787.9K
NOI $47,275 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,937
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20190, VA
20,957
Population
12,180
Households
1.7
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,763
Density / Sq Mi
$126,928
Median Household Income
$83,750
Median Earnings
$2,241
Median Rent
$568,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Corner medical condo with a spacious reception, treatment rooms, private offices, and ADA-compliant restroom.
Where is this medical office space located?
The property is located at 1850 Town Center Dr Reston, VA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Medical condo built in 1993; Directly connected to Reston Hospital Center; Corner suite with abundant natural light
