1360 Shenandoah Ave Front Royal, VA 22630
- Medical offices
- 6,152 SF
- 0.65 lot acres
Current Use by Public Records
- DaVita Front Royal Dialysis / Dialysis Center / Local Medical Services
Property Details for 1360 Shenandoah Ave
- Year built
- 2012
- Lot size
- 0.65 lot acres
- Property size
- 6,152 SF
- Zone code
- C1
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 20A220 G A1B
- APU
- 20A220GA1B
Description
This exceptional investment opportunity presents a stabilized medical office building in Front Royal, Virginia, currently occupied by a DaVita Dialysis center under a long-term NNN lease. The property, custom-built for the tenant in 2012, boasts over $1 million in tenant-funded improvements, including a comprehensive sprinkler system. The lease, with a remaining term of 4 years and 8 months, includes two 5-year options, ensuring long-term stability. Annual rent increases of 2% are built into the lease, along with a $1,000 management fee subject to 3% annual increases. The landlord's responsibilities are limited to roof and structural maintenance, minimizing operational burdens. The property offers a compelling 6.10% cap rate based on a current Net Operating Income (NOI) of $109,975, making it an attractive addition to any diversified real estate portfolio. The corporate guarantee provided by DaVita further enhances the security of this investment. The address is 1360 N Shenandoah Ave, Front Royal, VA 22630. The asking price is $2,000,000. The occupancy date was April 5th, 2011, and the lease expires April 5th, 2040.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Front Royal
- County
- Warren
- State
- Virginia
- Longitude
- -78.1997
- Latitude
- 38.9342
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
