112 Houston St Lexington, VA 24450
- Investment properties
- 5,170 SF
Current Use by Public Records
- Investment properties
Property Details for 112 Houston St
- Year built
- 1994
- Property size
- 5,170 SF
- Zone code
- RLC
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 29 1 33A#
- APU
- 29133A
Description
This exceptional investment opportunity presents a stabilized, multi-building medical office complex totaling 7,384 square feet situated on a 0.53-acre lot in Lexington, Virginia. The Class C property, offered at $1,150,000, boasts a 7.9% CAP rate and features a NNN lease structure across multiple tenancies. Strategically located adjacent to Carilion Rockbridge Community Hospital, this property benefits from high visibility and convenient access from Interstate 81. The complex is part of a medical park campus with shared parking, ensuring ample space for patients and staff. The strong demographics of the area, including a population exceeding 21,000 within a 15-minute radius and an average household income surpassing $84,000, contribute to the property's significant growth potential. Proximity to major institutions like Washington & Lee University (1,850+ students) and the Virginia Military Institute (1,520+ students) further enhances its appeal. The hospital alone employs over 265 people and receives over 4,500 visitors, creating a consistent stream of potential patients and clients. This presents a compelling investment opportunity for those seeking a stable, high-return asset in a thriving medical market. The two buildings are situated in Lexington County, VA, zip code 24450, and offer a unique blend of accessibility, location, and strong tenant occupancy.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Lexington City
- State
- Virginia
- Longitude
- -79.4426
- Latitude
- 37.7782
