Combined Medical Office Condominium
For Sale
$799,000
400-440 HOSPITAL DRIVE, Warrenton, VA 20186
Built-out healthcare workspace includes exam rooms, reception areas, staff facilities, and accessible restrooms.
Property Size3,501 SF
Price / SF$228.22
Days on Market50
Property Features for 400-440 HOSPITAL DRIVE
General Information
Standard status
Active
Size
3,501 SF
Property subtype
Commercial
Additional Details
Office Units
2
Building Details
Year Built
1987
Listing Agency:
KW United
(703) 533-1500
Listed By:
Sara Kesete Wolday
(571) 259-2495
Source:
Cummingsrealtors
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 14 at 11:42PM
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 KW United
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Investment Insights
Based on property information with market context.
This medical office condominium offering combines adjacent Units 406 and 408 into approximately 3,501 square feet of functional space. The existing build-out includes multiple exam rooms, including rooms with water service, along with a nursing station, reception areas, staff areas, and multiple restrooms. Each unit has a handicap-accessible restroom and a separate staff restroom, supporting established medical or dental operations.
The property is located across the parking lot from Fauquier Hospital at 400-440 Hospital Drive in Warrenton, Virginia. Accessible entry and ample handicap parking add practical convenience for patients, visitors, and staff. The units may be acquired together or separately, subject to the applicable purchase structure, providing flexibility for ownership or occupancy needs. Built in 1987, the property offers existing healthcare-oriented infrastructure for continued medical or dental use, subject to applicable zoning and approvals.
The property is located across the parking lot from Fauquier Hospital at 400-440 Hospital Drive in Warrenton, Virginia. Accessible entry and ample handicap parking add practical convenience for patients, visitors, and staff. The units may be acquired together or separately, subject to the applicable purchase structure, providing flexibility for ownership or occupancy needs. Built in 1987, the property offers existing healthcare-oriented infrastructure for continued medical or dental use, subject to applicable zoning and approvals.
Key Highlights
- Approximately 3,501 SF across combined Units 406 and 408
- Two adjacent condominium units previously combined as one medical office
- Multiple exam rooms, including rooms with water service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,915
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,300
$1.1M
Cap Rate 7%
$784,500
$784.5K
Cap Rate 9%
$610,167
$610.2K
Market Conditions
NOI Build-Up for 3,501 SF
Gross rent
$97.9K $27.96/SF
− Vacancy
−$6.4K −$1.82/SF
EGI
$91.5K $26.14/SF
− OpEx
−$36.6K −$10.46/SF
NOI
$54.9K $15.69/SF
Area
Fauquier County, VA
Vacancy
6.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,300
Cap Rate 7%
$784,500
Cap Rate 9%
$610,167
Alternative Uses
Best Use
Healthcare Medical
$784.5K
$686.4K – $915.3K
NOI $54,915 @ 7.0% cap · market cap 6.87%
Second Best
Office B
$669.7K
$586.0K – $781.3K
NOI $46,876 @ 7.0% cap · market cap 5.87%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.27M
NOI $136,119 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out healthcare workspace includes exam rooms, reception areas, staff facilities, and accessible restrooms.
Where is this medical office space located?
The property is located at 400-440 HOSPITAL DRIVE Warrenton, VA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 3,501 SF across combined Units 406 and 408; Two adjacent condominium units previously combined as one medical office; Multiple exam rooms, including rooms with water service
