Built-Out Medical Office
For Sale
$799,000
400 400-440 Hospital Dr, Warrenton, VA 20186
Combined condominium units offer established healthcare infrastructure near Fauquier Hospital with accessible entry and parking.
Property Size3,501 SF
Price / SF$228.22
Days on Market49
Property Features for 400 400-440 Hospital Dr
General Information
Standard status
Active
Size
3,501 SF
Building Details
Year Built
1987
Listing Agency:
KW United
Listed By:
Sara Kesete Wolday
(571) 259-2495
Source:
Fulcrum-residential
Added: Sep 15
Changed: Oct 25
Last Checked: Oct 2 at 11:59PM
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 property comprises two adjoining condominium units, 406 and 408, previously configured as a single practice environment. Together, the units provide approximately 3,501 SF, with multiple exam rooms, including rooms with and without water, reception areas, a nursing station, staff space, and multiple restrooms. Each unit has a handicap-accessible restroom, while additional non-handicap staff restrooms support daily operations. The building was constructed in 1987 and includes accessible entry and handicap parking.
The property is located across the parking lot from Fauquier Hospital in Warrenton, Virginia. The units may be acquired separately or together, providing flexibility for an owner-user, investor, or medical or dental practice. Existing healthcare-oriented improvements provide a functional base for continued medical or dental use, subject to applicable zoning and approvals.
The property is located across the parking lot from Fauquier Hospital in Warrenton, Virginia. The units may be acquired separately or together, providing flexibility for an owner-user, investor, or medical or dental practice. Existing healthcare-oriented improvements provide a functional base for continued medical or dental use, subject to applicable zoning and approvals.
Key Highlights
- Two adjacent condominium units, 406 and 408, configured as one medical office
- Approximately 3,501 SF combined; units may be purchased individually or together
- Multiple exam rooms, including rooms with and without water
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
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 - Combined condominium units offer established healthcare infrastructure near Fauquier Hospital with accessible entry and parking.
Where is this medical office space located?
The property is located at 400 400-440 Hospital Dr 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: Two adjacent condominium units, 406 and 408, configured as one medical office; Approximately 3,501 SF combined; units may be purchased individually or together; Multiple exam rooms, including rooms with and without water
