Medical Office Condo with Exam
For Sale
$920,000
24430 STONE SPRINGS BOULEVARD #375, Sterling, VA 20166
Configured with patient reception, lab, ADA restrooms, storage, and surface parking.
Property Size2,738 SF
Price / SF$336.01
Days on Market11
Property Features for 24430 STONE SPRINGS BOULEVARD #375
General Information
Standard status
Active
Size
2,738 SF
Property subtype
Commercial
Additional Details
Office Units
1
Building Details
Year Built
2015
Listing Agency:
Long & Foster Real Estate, Inc.
(571) 332-7508
Listed By:
Tracy Cruz-Johnson
(571) 332-7508
Source:
Cummingsrealtors
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 11 at 6:07AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 2,738-square-foot medical office condominium was built in 2015 and offers a functional clinical layout for healthcare operations. The suite includes a patient waiting area, reception and work area, seven exam rooms or offices, a laboratory with sink, kitchenette, two ADA-compliant bathrooms, two storage closets, and a dedicated IT closet.
The property is adjacent to StoneSprings Hospital Center (HCA), with surface parking available nearby. Retail and dining options are also located in the surrounding area, supporting convenient access for staff and visitors.
The property is adjacent to StoneSprings Hospital Center (HCA), with surface parking available nearby. Retail and dining options are also located in the surrounding area, supporting convenient access for staff and visitors.
Key Highlights
- 2,738 SF medical office condominium built in 2015
- Seven exam rooms or offices support clinical and administrative functions
- Laboratory includes a sink, with kitchenette also provided
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
$51,830
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
5.63%
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%
$1,036,600
$1.0M
Cap Rate 7%
$740,429
$740.4K
Cap Rate 9%
$575,889
$575.9K
Market Conditions
NOI Build-Up for 2,738 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
$80.8K $29.52/SF
− Vacancy
−$11.7K −$4.28/SF
EGI
$69.1K $25.24/SF
− OpEx
−$17.3K −$6.31/SF
NOI
$51.8K $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%
$1,036,600
Cap Rate 7%
$740,429
Cap Rate 9%
$575,889
Alternative Uses
Best Use
Office B
$740.4K
$647.9K – $863.8K
NOI $51,830 @ 7.0% cap · market cap 5.63%
Second Best
Healthcare Medical
$728.6K
$637.5K – $850.1K
NOI $51,003 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$858.1K
$750.8K – $1.00M
NOI $60,065 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 20166, VA
14,164
Population
5,300
Households
2.7
Avg Household Size
34
Median Age
66%
College-Educated
93%
High-School Grad
27.2 sq mi
ZIP Area
521
Density / Sq Mi
$135,246
Median Household Income
$71,855
Median Earnings
$2,227
Median Rent
$576,400
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 - Configured with patient reception, lab, ADA restrooms, storage, and surface parking.
Where is this medical office space located?
The property is located at 24430 STONE SPRINGS BOULEVARD #375 Sterling, VA.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: 2,738 SF medical office condominium built in 2015; Seven exam rooms or offices support clinical and administrative functions; Laboratory includes a sink, with kitchenette also provided
