Medical Office
For Sale
Contact for pricing
Pending
195 Falcon Drive, Fredericksburg, VA 22408
Medical office building features 10 exam rooms, X-ray, OR, and a separate patient-entrance PT/Rehab space.
Property Size6,000 SF
Days on Market131
Property Features for 195 Falcon Drive
General Information
Standard status
Pending
Size
6,000 SF
Class
B
Property subtype
Office
Zoning
C-2
Investment Type
Owner/User
Building Details
Year Built
2006
Year Renovated
2021
Units
1
Listing Agency:
Vakos Real Estate Services
Listed By:
Steve Schattgen · License #VA0225051490
(540) 845-6780
Source:
Crexi
Added: Apr 28
Changed: Aug 25
Last Checked: Sep 4 at 8:10PM
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 Vakos Real Estate Services
Investment Insights
Based on property information with market context.
This medical office building totals 6,000 square feet and is laid out to support both physician practice and rehabilitation services. It includes a 1,500-square-foot PT or Rehab area with a separate outside entrance, along with reception and waiting areas and an open PT/Rehab area plus an exam room/office. The remaining medical office portion includes 10 exam rooms, an X-ray room, an OR room, a waiting room with restroom, nurses’ station, reception check station, file room, support staff office, doctor’s office breakroom, and patient restrooms.
The property is described as a convenient option midway between MWH and HCA hospitals. It also notes that MWH’s freestanding ER at Lee’s Hill is approximately 0.7 miles away. Patient parking is highlighted as plentiful, with additional parking behind the building for physician and staff use.
Configured as an owner-user healthcare facility, the building offers distinct space planning for exam-based medical visits and a separate-entry PT/Rehab component.
The property is described as a convenient option midway between MWH and HCA hospitals. It also notes that MWH’s freestanding ER at Lee’s Hill is approximately 0.7 miles away. Patient parking is highlighted as plentiful, with additional parking behind the building for physician and staff use.
Configured as an owner-user healthcare facility, the building offers distinct space planning for exam-based medical visits and a separate-entry PT/Rehab component.
Key Highlights
- 6,000 SF medical office building built in 2006
- Medical suite includes 10 exam rooms, X‑ray room, OR room, waiting room with restroom, and nurses’ station
- Includes a separate 1,500 SF PT/Rehab space with its own outside entrance plus reception and waiting areas
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
$118,331
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
6.26%
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%
$2,366,620
$2.4M
Cap Rate 7%
$1,690,443
$1.7M
Cap Rate 9%
$1,314,789
$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
$217.4K $36.24/SF
− Vacancy
−$20.2K −$3.37/SF
EGI
$197.2K $32.87/SF
− OpEx
−$78.9K −$13.15/SF
NOI
$118.3K $19.72/SF
Area
Spotsylvania County, VA
Vacancy
9.30%
Lease Rate
$36.24 /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%
$2,366,620
Cap Rate 7%
$1,690,443
Cap Rate 9%
$1,314,789
Alternative Uses
Best Use
Healthcare Medical
$1.69M
$1.48M – $1.97M
NOI $118,331 @ 7.0% cap · market cap 6.26%
Second Best
Office B
$1.59M
$1.39M – $1.85M
NOI $111,180 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,653 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 22408, VA
32,043
Population
12,438
Households
2.6
Avg Household Size
36
Median Age
40%
College-Educated
92%
High-School Grad
47.3 sq mi
ZIP Area
677
Density / Sq Mi
$114,598
Median Household Income
$54,934
Median Earnings
$1,771
Median Rent
$353,500
Median Home Value
Market
Vacancy Rate% for Office in Fredericksburg, VA
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Similar Off Market Nearby
- Lee's Hill Pet Hospital — 10693 Spotsylvania Ave, Fredericksburg, VA 22408
- Fredericksburg SPCA — 10819 Courthouse Rd, Fredericksburg, VA 22408
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building features 10 exam rooms, X-ray, OR, and a separate patient-entrance PT/Rehab space.
Where is this medical office space located?
The property is located at 195 Falcon Drive Fredericksburg, VA.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 6,000 SF medical office building built in 2006; Medical suite includes 10 exam rooms, X‑ray room, OR room, waiting room with restroom, and nurses’ station; Includes a separate 1,500 SF PT/Rehab space with its own outside entrance plus reception and waiting areas
