Dental Office
For Sale
$1,202,000
6750 Forest Hill Ave, Richmond, VA 23225
For-sale medical office portfolio presented as the Commonwealth Dentistry Portfolio in Richmond, Virginia.
Property Size4,769 SF
Price / SF$252.04
Days on Market48
Property Features for 6750 Forest Hill Ave
General Information
Standard status
Active
Size
4,769 SF
Property subtype
Single-Tenant Office Medical
Lease Type
NN
Additional Details
Cap Rate
7.15%
Amenities
Portfolio of Seven Single-Tenant Commonwealth Dentistry Locations in Virginia
Double Net Lease Through July 2033 with Annual 2.5 Percent Rent Increases
Corporate Guarantee: 60 Plus Locations in Three States
Over 241,000 Residents within Five Miles with Average Household Income of $106,014
Building Details
Building Size
4,769 SF
Listing Agency:
(262) 364-1924
Listed By:
Jeff Rowlett · License #License(s): WI: 74743-94, IL: 471.016866
(262) 364-1924
Source:
Marcusmillichap
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 30 at 1:05PM
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 Jeff Rowlett
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present the Commonwealth Dentistry Portfolio for sale in Virginia.
The offering is positioned as medical office space under a dentistry-focused portfolio format. The portfolio is located at 6750 Forest Hill Ave, Richmond, VA 23225.
Details regarding the number of buildings, suites, unit mix, or interior configuration are not provided in the materials available here, and potential buyers should review the offering documentation for a complete understanding of the property and lease details.
The offering is positioned as medical office space under a dentistry-focused portfolio format. The portfolio is located at 6750 Forest Hill Ave, Richmond, VA 23225.
Details regarding the number of buildings, suites, unit mix, or interior configuration are not provided in the materials available here, and potential buyers should review the offering documentation for a complete understanding of the property and lease details.
Key Highlights
- For‑sale medical office portfolio presented as the Commonwealth Dentistry Portfolio
- Located in Richmond, Virginia
- Listing references 7.15%
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
$68,401
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
5.69%
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%
$1,368,020
$1.4M
Cap Rate 7%
$977,157
$977.2K
Cap Rate 9%
$760,011
$760.0K
Market Conditions
NOI Build-Up for 4,769 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
$124.2K $26.04/SF
− Vacancy
−$10.2K −$2.14/SF
EGI
$114.0K $23.90/SF
− OpEx
−$45.6K −$9.56/SF
NOI
$68.4K $14.34/SF
Area
Richmond, 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%
$1,368,020
Cap Rate 7%
$977,157
Cap Rate 9%
$760,011
Alternative Uses
Best Use
Healthcare Medical
$977.2K
$855.0K – $1.14M
NOI $68,401 @ 7.0% cap · market cap 5.69%
Second Best
Office B
$916.0K
$801.5K – $1.07M
NOI $64,119 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.10M
$964.1K – $1.29M
NOI $77,126 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
Median Home Value
Market
Vacancy Rate% for Office in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - For-sale medical office portfolio presented as the Commonwealth Dentistry Portfolio in Richmond, Virginia.
Where is this medical office space located?
The property is located at 6750 Forest Hill Ave Richmond, VA.
What is the asking price?
The asking price for this property is $1,202,000.
What are key features of this property?
This property features: For‑sale medical office portfolio presented as the Commonwealth Dentistry Portfolio; Located in Richmond, Virginia; Listing references 7.15%
