Medical Office
For Sale
$716,000
2373 Colony Crossing Pl, Midlothian, VA 23112
Medical office portfolio offered for sale with a total area of 2,201 square feet.
Property Size2,201 SF
Price / SF$325.31
Days on Market95
Property Features for 2373 Colony Crossing Pl
General Information
Standard status
Active
Size
2,201 SF
Property subtype
Single-Tenant Office Medical
Lease Type
NNN
Additional Details
Cap Rate
8.5%
Amenities
Portfolio of Seven Single-Tenant Commonwealth Dentistry Locations in Virginia
Triple Net Lease (Condo) Through September 2028 with Annual 2.5 Percent Rent Increases
Corporate Guarantee: 60 Plus Locations in Three States
Over 134,000 Residents within Five Miles with Average Household Income of $139,592
Building Details
Building Size
2,201 SF
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Jeff Rowlett · License #License(s): WI: 74743-94, IL: 471.016866
(262) 364-1924
Source:
Marcusmillichap
Added: Jul 15
Changed: Oct 16
Last Checked: Oct 16 at 5:37AM
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 Marcus & Millichap - Milwaukee
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Investment Insights
Based on property information with market context.
Marcus & Millichap presents the Commonwealth Dentistry Portfolio for sale. The offering includes a total of 2,201 square feet of medical office space, presented as a portfolio transaction.
The property is located at 2373 Colony Crossing Pl in Midlothian, Virginia. The list price is $716,000.
The property is located at 2373 Colony Crossing Pl in Midlothian, Virginia. The list price is $716,000.
Key Highlights
- Medical office portfolio for sale in Virginia
- Total area: 2,201 SF
- Offered with an 8.50% return (as stated in the remarks)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,163
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,260
$483.3K
Cap Rate 7%
$345,186
$345.2K
Cap Rate 9%
$268,478
$268.5K
Market Conditions
NOI Build-Up for 2,201 SF
Gross rent
$37.5K $17.04/SF
− Vacancy
−$5.3K −$2.40/SF
EGI
$32.2K $14.64/SF
− OpEx
−$8.1K −$3.66/SF
NOI
$24.2K $10.98/SF
Area
Chesterfield County, VA
Vacancy
14.10%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,260
Cap Rate 7%
$345,186
Cap Rate 9%
$268,478
Alternative Uses
Best Use
Healthcare Medical
$4.41M
$3.86M – $5.14M
NOI $308,688 @ 7.0% cap · market cap 43.11%
Second Best
Office B
$345.2K
$302.0K – $402.7K
NOI $24,163 @ 7.0% cap · market cap 3.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23112, VA
54,592
Population
21,511
Households
2.5
Avg Household Size
39
Median Age
50%
College-Educated
97%
High-School Grad
32.1 sq mi
ZIP Area
1,701
Density / Sq Mi
$117,716
Median Household Income
$57,772
Median Earnings
$1,706
Median Rent
$366,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Virginia Veterinary Centers - Midlothian — 2460 Colony Crossing Pl, Midlothian, VA 23112
- Swift Creek Animal Hospital & Pet Resort — 2331 Colony Crossing Pl, Midlothian, VA 23112
- Phelps Kevin DVM — 2331 Colony Crossing Pl, Midlothian, VA 23112
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office portfolio offered for sale with a total area of 2,201 square feet.
Where is this medical office space located?
The property is located at 2373 Colony Crossing Pl Midlothian, VA.
What is the asking price?
The asking price for this property is $716,000.
What are key features of this property?
This property features: Medical office portfolio for sale in Virginia; Total area: 2,201 SF; Offered with an 8.50% return (as stated in the remarks)
