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Lexington Medical Office/Investment Property 112 Houston St 7,384 SF 100% Leased Office Building Lexington, VA 24450 $1,065,000 ($144.23/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased mixed use property
- Strong leases in place in well-maintained building
- Modern two-tenant medical office building with immediate proximity to regional hospital
- Historic residential duplex with opportunity for further upfit or conversion to office use
EXECUTIVE SUMMARY
Introducing an exceptional two-building investment opportunity in the idyllic college town of Lexington, Virginia.
Property features a two-tenant, 7,384 SF medical office building constructed in 1994 and located in a planned development with other medical offices and Carilion Rockbridge Community Hospital. This building is fully leased to a well-established dental practice (Suite A) and to an oral surgery practice (Suite B).
Also on the property is a residential duplex built around 1922. Both units are rented and professionally managed.
This turnkey investment offers stability, diversification, and immediate returns. Do not miss the chance to capitalize on this high-demand market and secure a valuable asset in a sought-after location.
Property features a two-tenant, 7,384 SF medical office building constructed in 1994 and located in a planned development with other medical offices and Carilion Rockbridge Community Hospital. This building is fully leased to a well-established dental practice (Suite A) and to an oral surgery practice (Suite B).
Also on the property is a residential duplex built around 1922. Both units are rented and professionally managed.
This turnkey investment offers stability, diversification, and immediate returns. Do not miss the chance to capitalize on this high-demand market and secure a valuable asset in a sought-after location.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
7,384 SF
Building Class
B
Year Built
1994
Price
$1,065,000
Price Per SF
$144.23
Cap Rate
7.25%
NOI
$77,213
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,384 SF
Building FAR
0.32
Lot Size
0.53 AC
Opportunity Zone
Yes
Zoning
R-LC - Mixed Use (Residential-Light Commercial)
Parking
22 Spaces (2.98 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 29-1-33A | Improvements Assessment | $127,200 |
| Land Assessment | $110,000 | Total Assessment | $237,200 |
PROPERTY TAXES
Parcel Number
29-1-33A
Land Assessment
$110,000
Improvements Assessment
$127,200
Total Assessment
$237,200
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Lexington Medical Office/Investment Property | 112 Houston St
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