430 Southridge Pkwy Culpeper, VA 22701-3791

Property Details for 430 Southridge Pkwy

Year built

1995

Lot size

0.10 lot acres

Property size

2,459 SF

Zone code

C2

Property type

Commercial real estate

APN

50-B - 5- - 11

APU

50B511

Description

This single-tenant medical office building in Culpeper, Virginia, offers a compelling investment opportunity. The 6,227 square-foot facility, built in 1995 and renovated in 2018, is situated on a 0.43-acre lot with 30 parking spaces. It's located in the South Ridge Office Park, conveniently positioned near major highways (US-29) and less than a mile from UVA Culpeper Medical Center. The property boasts a strong 100% occupancy rate with a long-term net lease to DaVita, Inc., a leading kidney care provider, extending until September 30, 2033, with two five-year lease options. The current annual net operating income (NOI) is $109,595, representing a 6.50% capitalization rate. The lease includes rent bumps of 12.5% in year 11 and 10% at the start of each option period. Landlord responsibilities are limited to roof, structure, parking lot, and HVAC replacement. The property benefits from a strong tenant with a significant market presence and a favorable location within a densely populated area with high average household incomes. This presents a stable, passive income stream with built-in rent growth potential. The asking price is $1,686,080, translating to $270.77 per square foot.