Single-Tenant Medical Office
For Sale
$4,500,000
4730 Puddledock Rd, Prince George, VA 23875
Leased to Virginia Cancer Institute under a Triple Net structure with scheduled rental escalations and renewal options.
Property Size10,320 SF
Price / SF$436.05
Days on Market91
Property Features for 4730 Puddledock Rd
General Information
Standard status
Active
Size
10,320 SF
Property subtype
Commercial
Building Details
Year Built
2015
Listing Agency:
RE/MAX Real Estate Connections
Listed By:
Zahid "Zach" Abbasi · License #0225082150
(703) 622-1974
Source:
Searchhomesinbuckscounty
Added: Jun 16
Changed: Sep 9
Last Checked: Sep 14 at 12:19PM
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 RE/MAX Real Estate Connections
Investment Insights
Based on property information with market context.
Built in 2015, this single-tenant medical office building is leased to Virginia Cancer Institute, Inc., an established healthcare provider. The property is subject to a Triple Net (NNN) lease, with approximately five years remaining in the current term and multiple renewal options. Scheduled rental escalations are included throughout the initial term and renewal periods.
The property is located at 4730 PUDDLEDOCK Rd in Prince George, Virginia. It has a walk score of 36 and a bike score of 35, classified as Car-Dependent and Somewhat Bikeable, respectively. The lease structure, remaining term, renewal options, and escalation schedule provide a defined framework for evaluating the medical office asset.
The property is located at 4730 PUDDLEDOCK Rd in Prince George, Virginia. It has a walk score of 36 and a bike score of 35, classified as Car-Dependent and Somewhat Bikeable, respectively. The lease structure, remaining term, renewal options, and escalation schedule provide a defined framework for evaluating the medical office asset.
Key Highlights
- Single‑tenant medical office building leased to Virginia Cancer Institute, Inc.
- Triple Net (NNN) lease structure
- Approximately five years remaining on the current lease term
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
$148,018
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
3.29%
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%
$2,960,360
$3.0M
Cap Rate 7%
$2,114,543
$2.1M
Cap Rate 9%
$1,644,644
$1.6M
Market Conditions
NOI Build-Up for 10,320 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
$268.7K $26.04/SF
− Vacancy
−$22.0K −$2.14/SF
EGI
$246.7K $23.90/SF
− OpEx
−$98.7K −$9.56/SF
NOI
$148.0K $14.34/SF
Area
Prince George County, VA
Vacancy
8.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,960,360
Cap Rate 7%
$2,114,543
Cap Rate 9%
$1,644,644
Alternative Uses
Best Use
Healthcare Medical
$2.11M
$1.85M – $2.47M
NOI $148,018 @ 7.0% cap · market cap 3.29%
Second Best
Office B
$1.98M
$1.73M – $2.31M
NOI $138,752 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$2.38M
$2.09M – $2.78M
NOI $166,899 @ 7.0% cap · market cap 3.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23875, VA
11,791
Population
5,013
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
35.6 sq mi
ZIP Area
331
Density / Sq Mi
$76,596
Median Household Income
$43,432
Median Earnings
$1,238
Median Rent
$254,200
Median Home Value
Check the figures for this property
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 - Leased to Virginia Cancer Institute under a Triple Net structure with scheduled rental escalations and renewal options.
Where is this medical office space located?
The property is located at 4730 Puddledock Rd Prince George, VA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Single‑tenant medical office building leased to Virginia Cancer Institute, Inc.; Triple Net (NNN) lease structure; Approximately five years remaining on the current lease term
