Medical Office Space with Two
For Sale
Contact for pricing
200 PROFESSIONAL PARK DR SE, Blacksburg, VA 24060
Flexible layout allows the two suites to function independently or as one larger workspace.
Property Size2,974 SF
Price / SF$156.36
Days on Market53
Property Features for 200 PROFESSIONAL PARK DR SE
General Information
Standard status
Active
Size
2,974 SF
Class
B
Property subtype
Office
Zoning
O
Investment Type
Owner/User
Additional Details
Office Units
2
Amenities
built-in bookshelves
workstations
kitchenette
multiple restrooms
Building Details
Year Built
1984
Buildings
1
Units
1
Listing Agency:
Elliott Inc.
Listed By:
Carmen Elliott · License #VA 0225247701
(540) 357-2084
Source:
Crexi
Added: Jul 30
Changed: Sep 17
Last Checked: Sep 19 at 9:37AM
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 Elliott Inc.
Investment Insights
Based on property information with market context.
This medical office property at 200 Professional Park Dr SE provides two adaptable suites that may remain separate or operate as a unified workplace. The interior includes multiple offices, a substantial reception area, private storage areas, built-in bookshelves, workstations, a kitchenette, and multiple restrooms. These features support organized administrative functions and client-facing operations within a professional office setting.
The property is located in an established professional park in Blacksburg, VA, alongside other businesses. It carries O zoning and was built in 1984.
The property is located in an established professional park in Blacksburg, VA, alongside other businesses. It carries O zoning and was built in 1984.
Key Highlights
- Two suites can be configured independently or combined into one larger office
- Multi‑office layout with a large reception area
- Private storage areas for sensitive materials and information
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
$36,346
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
7.82%
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%
$726,920
$726.9K
Cap Rate 7%
$519,229
$519.2K
Cap Rate 9%
$403,844
$403.8K
Market Conditions
NOI Build-Up for 2,974 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
$58.5K $19.68/SF
− Vacancy
−$10.1K −$3.38/SF
EGI
$48.5K $16.30/SF
− OpEx
−$12.1K −$4.07/SF
NOI
$36.3K $12.22/SF
Area
Montgomery County, VA
Vacancy
17.20%
Lease Rate
$19.68 /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%
$726,920
Cap Rate 7%
$519,229
Cap Rate 9%
$403,844
Alternative Uses
Best Use
Healthcare Medical
$649.7K
$568.5K – $758.0K
NOI $45,477 @ 7.0% cap · market cap 9.78%
Second Best
Office B
$519.2K
$454.3K – $605.8K
NOI $36,346 @ 7.0% cap · market cap 7.82%
Theoretical Best
Flex RnD
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- American Veterinary Pathology Associates, PLLC — 2000 Kraft Dr SW #2155, Blacksburg, VA 24060
- Holistic Veterinary Consultants — 2401 S Main St Suite F, Blacksburg, VA 24060
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible layout allows the two suites to function independently or as one larger workspace.
Where is this medical office space located?
The property is located at 200 PROFESSIONAL PARK DR SE Blacksburg, VA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two suites can be configured independently or combined into one larger office; Multi‑office layout with a large reception area; Private storage areas for sensitive materials and information
