Leased First-Floor Medical Office
9420 Forestwood Ln. First Floor, Manassas, VA 20110
For Sale
$2,700,000
NNN-leased first-floor office condos with a long-tenured dialysis operator and remaining renewal options through 2030 and beyond.
Property Size9,981 SF
Price / SF$270.51
Days on Market140
Property Features for 9420 Forestwood Ln. First Floor
General Information
Standard status
Size
Class
Property subtype
Occupancy
Net Operating Income
Additional Details
Cap Rate
Office Units
Building Details
Building Size
Tenancy
Listing Agency:
Weber Rector Commercial Real Estate Services, Inc.
Listed By:
Brian Snook
(703) 863-1895
Source:
Weberrector
Added: Jun 25
Changed: Oct 25
Last Checked: Nov 10 at 6:17AM
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 Commercial Real Estate Services, Inc.
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Investment Insights
Based on property information with market context.
The property consists of four first-floor office condo suites totaling 9,981 SF, calculated as full-floor space minus a common area lobby. The space is leased to DaVita Dialysis on an NNN basis. According to the lease history provided, the tenant has occupied the property since 2015 and recently exercised the first of three 5-year renewal options, extending the lease through 5/31/2030. If all remaining options are exercised, the lease term extends through 5/31/2040.
The building is located at 9420 Forestwood Ln., First Floor, in Manassas, VA. The current monthly rent is $12,077.01, reflecting a 10% escalation per the lease terms. Annual net operating income is reported as $144,924.
For buyers seeking a healthcare-focused, stabilized investment with a long-term tenant, the asset offers a structured lease timeline tied to multiple renewal options. For operators and brokers, the configuration as first-floor office space leased specifically to a dialysis provider may also support tenant-aligned use considerations within the medical office segment. Prospective buyers should review the lease terms and NNN structure as part of underwriting the reported income figures.
The building is located at 9420 Forestwood Ln., First Floor, in Manassas, VA. The current monthly rent is $12,077.01, reflecting a 10% escalation per the lease terms. Annual net operating income is reported as $144,924.
For buyers seeking a healthcare-focused, stabilized investment with a long-term tenant, the asset offers a structured lease timeline tied to multiple renewal options. For operators and brokers, the configuration as first-floor office space leased specifically to a dialysis provider may also support tenant-aligned use considerations within the medical office segment. Prospective buyers should review the lease terms and NNN structure as part of underwriting the reported income figures.
Key Highlights
- Four first‑floor office condos totaling 9,981 SF (full floor minus common area lobby) leased on an NNN basis
- DaVita Dialysis tenant has occupied since 2015 and renewed, exercising the first 5‑year option to extend through 5/31/2030
- Lease has two additional 5‑year renewal options; if exercised, lease runs through 5/31/2040
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,558
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,131,160
$3.1M
Cap Rate 7%
$2,236,543
$2.2M
Cap Rate 9%
$1,739,533
$1.7M
Market Conditions
NOI Build-Up for 9,981 SF
Gross rent
$279.1K $27.96/SF
− Vacancy
−$18.1K −$1.82/SF
EGI
$260.9K $26.14/SF
− OpEx
−$104.4K −$10.46/SF
NOI
$156.6K $15.69/SF
Area
Manassas Park 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%
$3,131,160
Cap Rate 7%
$2,236,543
Cap Rate 9%
$1,739,533
Alternative Uses
Best Use
Healthcare Medical
$2.24M
$1.96M – $2.61M
NOI $156,558 @ 7.0% cap · market cap 5.80%
Second Best
Office B
$1.91M
$1.67M – $2.23M
NOI $133,639 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$5.54M
$4.85M – $6.47M
NOI $388,061 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
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Business Placement
Demographics for 20110, VA
49,120
Population
16,289
Households
3
Avg Household Size
35
Median Age
34%
College-Educated
82%
High-School Grad
12.8 sq mi
ZIP Area
3,838
Density / Sq Mi
$120,397
Median Household Income
$53,126
Median Earnings
$1,863
Median Rent
$445,300
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Manassas, VA
Properties on Market for Office Units in Manassas
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - NNN-leased first-floor office condos with a long-tenured dialysis operator and remaining renewal options through 2030 and beyond.
Where is this office unit located?
The property is located at 9420 Forestwood Ln. First Floor Manassas, VA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Four first‑floor office condos totaling 9,981 SF (full floor minus common area lobby) leased on an NNN basis; DaVita Dialysis tenant has occupied since 2015 and renewed, exercising the first 5‑year option to extend through 5/31/2030; Lease has two additional 5‑year renewal options; if exercised, lease runs through 5/31/2040
