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Edgehill Town Center 2 Properties Offered at $8,000,000 in Gloucester, VA
INVESTMENT HIGHLIGHTS
- Total of 49,109 rentable square feet with 16,000 square feet of new medical office space
- Upside potential to capitalize on medical office demand by remodeling 9,500 SF current retail as new medical office.
- Medical Office Corporate Tenants including: Fresenius Dialysis, Riverside Physicians, Peninsula Pediatric Dentistry, and Versability
EXECUTIVE SUMMARY
Total of 49,109 rentable square feet with 16,000 square feet of new medical office space
The Center is well maintained with Class A brick construction and shingled “A” style roofs.
Conveniently located near Riverside Hospital and Gloucester’s Retail Shopping District.
Current tenants include: Fresenius Dialysis Center, Riverside Physician Services, Peninsula Pediatric Dentistry, and VersAbility -
Strong corporate credit Tenants
Upside potential to capitalize on medical office demand by remodeling 9,500 SF current retail as new medical office.
New 10-year Lease Renewal for Anchor Tenant Dialysis Center with Lease Expiration Out to Aug.-36
The Center is well maintained with Class A brick construction and shingled “A” style roofs.
Conveniently located near Riverside Hospital and Gloucester’s Retail Shopping District.
Current tenants include: Fresenius Dialysis Center, Riverside Physician Services, Peninsula Pediatric Dentistry, and VersAbility -
Strong corporate credit Tenants
Upside potential to capitalize on medical office demand by remodeling 9,500 SF current retail as new medical office.
New 10-year Lease Renewal for Anchor Tenant Dialysis Center with Lease Expiration Out to Aug.-36
TAXES & OPERATING EXPENSES (PRO FORMA - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$682,422
|
| Other Income |
$97,432
|
| Vacancy Loss |
$13,389
|
| Effective Gross Income |
$766,465
|
| Taxes |
$47,336
|
| Operating Expenses |
$109,358
|
| Total Expenses |
$156,694
|
| Net Operating Income |
$609,771
|
TAXES & OPERATING EXPENSES (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $682,422 |
| Other Income | |
|---|---|
| Annual | $97,432 |
| Vacancy Loss | |
|---|---|
| Annual | $13,389 |
| Effective Gross Income | |
|---|---|
| Annual | $766,465 |
| Taxes | |
|---|---|
| Annual | $47,336 |
| Operating Expenses | |
|---|---|
| Annual | $109,358 |
| Total Expenses | |
|---|---|
| Annual | $156,694 |
| Net Operating Income | |
|---|---|
| Annual | $609,771 |
PROPERTY FACTS
| Price | $8,000,000 | Number of Properties | 2 |
| Price / SF | $148.72 / SF | Individually For Sale | 0 |
| Cap Rate | 7.62% | Total Building Size | 53,794 SF |
| Sale Type | Investment | Total Land Area | 4.80 AC |
| Status | Active |
| Price | $8,000,000 |
| Price / SF | $148.72 / SF |
| Cap Rate | 7.62% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 53,794 SF |
| Total Land Area | 4.80 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 6738-6760 Main St, Gloucester, VA 23061 | Office | 49,109 SF | 1986 | - |
| 6728-6736 Main St, Gloucester, VA 23061 | Retail | 4,685 SF | 1981 | - |
CONTACTS
-
Michael Allen -
Clark Baldwin -
Robert Saunders -
Harvey Lindsay Commercial Real Estate
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Edgehill Town Center
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