Medical Office Suite with
For Sale
$765,000
6134 REDWOOD SQUARE CENTER, Centreville, VA 20121
Combined condominium units provide a flexible healthcare and professional office configuration with dedicated treatment, reception, and administrative areas.
Property Size3,280 SF
Price / SF$233.23
Days on Market104
Property Features for 6134 REDWOOD SQUARE CENTER
General Information
Standard status
Active
Size
3,280 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$8,256
Amenities
Central Air
3
Parking.
Lot.
Building Details
Year Built
2004
Listing Agency:
Weber Rector Commerical Real Estate Services, Inc.
(949) 606-6674
Listed By:
Ryan Archibald
(949) 606-6674
Source:
Xome
Added: May 11
Changed: Aug 19
Last Checked: Aug 21 at 4:53AM
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 Weber Rector Commerical Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This approximately 3,280 SF medical office property combines two condominium units into a single operating suite. The existing plan includes 7 operatories or exam rooms, reception and waiting areas, private offices, restrooms, and breakroom space. Plumbing infrastructure remains in place for medical or dental operations, while the layout can also accommodate professional office, consulting, wellness, or other service uses. Exterior signage opportunities and surface parking are provided.
The property is located in Centreville at Redwood Square Centre, with immediate access to I-66, Rt. 28, and Rt. 29. It sits within an established residential and commercial corridor near retail amenities, medical users, and major commuter routes. Built in 2004, the suite offers an existing healthcare-oriented configuration with flexibility for continued medical occupancy or office adaptation.
The property is located in Centreville at Redwood Square Centre, with immediate access to I-66, Rt. 28, and Rt. 29. It sits within an established residential and commercial corridor near retail amenities, medical users, and major commuter routes. Built in 2004, the suite offers an existing healthcare-oriented configuration with flexibility for continued medical occupancy or office adaptation.
Key Highlights
- Approximately 3,280 SF of office space across two combined condominium units
- 7 operatories/exam rooms with reception and waiting areas
- Existing plumbing infrastructure supports medical and dental office functions
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
$62,089
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
8.12%
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%
$1,241,780
$1.2M
Cap Rate 7%
$886,986
$887.0K
Cap Rate 9%
$689,878
$689.9K
Market Conditions
NOI Build-Up for 3,280 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
$96.8K $29.52/SF
− Vacancy
−$14.0K −$4.28/SF
EGI
$82.8K $25.24/SF
− OpEx
−$20.7K −$6.31/SF
NOI
$62.1K $18.93/SF
Area
Fairfax 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%
$1,241,780
Cap Rate 7%
$886,986
Cap Rate 9%
$689,878
Alternative Uses
Best Use
Office B
$887.0K
$776.1K – $1.03M
NOI $62,089 @ 7.0% cap · market cap 8.12%
Second Best
Healthcare Medical
$853.8K
$747.1K – $996.1K
NOI $59,767 @ 7.0% cap · market cap 7.81%
Theoretical Best
Specialty Retail
$13.75M
$12.03M – $16.04M
NOI $962,426 @ 7.0% cap · market cap 125.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20121, VA
28,901
Population
9,968
Households
2.9
Avg Household Size
35
Median Age
53%
College-Educated
93%
High-School Grad
8.7 sq mi
ZIP Area
3,322
Density / Sq Mi
$133,024
Median Household Income
$61,859
Median Earnings
$2,240
Median Rent
$488,200
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 - Combined condominium units provide a flexible healthcare and professional office configuration with dedicated treatment, reception, and administrative areas.
Where is this medical office space located?
The property is located at 6134 REDWOOD SQUARE CENTER Centreville, VA.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Approximately 3,280 SF of office space across two combined condominium units; 7 operatories/exam rooms with reception and waiting areas; Existing plumbing infrastructure supports medical and dental office functions
