Medical Office
406 Hospital Drive, Warrenton, VA 20186
For Sale
Contact for pricing
The two medical suites are available individually or as a combined purchase.
Property Size3,548 SF
Price / SF$225.20
Days on Market34
Property Features for 406 Hospital Drive
General Information
Standard status
Size
Property subtype
Additional Details
Office Units
Property Use
Amenities
free handicap parking
Building Details
Tenancy
Owner Occupied
Listing Agency:
Keller Williams United
Listed By:
Frank Dillow · License #VA
Source:
Crexi
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 8 at 2:14PM
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 Keller Williams United
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Investment Insights
Based on property information with market context.
Two medical office condominium suites at 406 and 408 Hospital Drive are offered together or separately. Suite 406 contains 2,098 square feet, while Suite 408 offers 1,450 square feet. The current owner occupies both units.
Fauquier Hospital is across the parking area, and historic downtown Warrenton is nearby. Parking includes free spaces designated for handicap access.
Fauquier Hospital is across the parking area, and historic downtown Warrenton is nearby. Parking includes free spaces designated for handicap access.
Key Highlights
- Suite 406 measures 2,098 square feet; Suite 408 measures 1,450 square feet
- Available as a combined acquisition or as either condominium suite individually
- Fauquier Hospital is across the parking area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,652
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,113,040
$1.1M
Cap Rate 7%
$795,029
$795.0K
Cap Rate 9%
$618,356
$618.4K
Market Conditions
NOI Build-Up for 3,548 SF
Gross rent
$99.2K $27.96/SF
− Vacancy
−$6.4K −$1.82/SF
EGI
$92.8K $26.14/SF
− OpEx
−$37.1K −$10.46/SF
NOI
$55.7K $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%
$1,113,040
Cap Rate 7%
$795,029
Cap Rate 9%
$618,356
Alternative Uses
Best Use
Healthcare Medical
$795.0K
$695.7K – $927.5K
NOI $55,652 @ 7.0% cap · market cap 6.97%
Second Best
Office B
$678.6K
$593.8K – $791.8K
NOI $47,505 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,946 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The two medical suites are available individually or as a combined purchase.
Where is this medical office space located?
The property is located at 406 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: Suite 406 measures 2,098 square feet; Suite 408 measures 1,450 square feet; Available as a combined acquisition or as either condominium suite individually; Fauquier Hospital is across the parking area
