For Sale
$2,000,000

1360 Shenandoah AveFront Royal, VA 22630

High-yield medical office, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • $2,000,000 asking price for a stabilized medical office investment.
  • NNN lease with a corporate guarantee from DaVita, a single tenant.
  • 14-year lease remaining (4 years, 8 months remaining plus two 5-year options); April 5, 2040 expiration.
  • 6.10% cap rate with a $109,975 net operating income (NOI).
  • Located at 1360 N Shenandoah Ave, Front Royal, VA 22630.

Property Details for 1360 Shenandoah Ave

Property type
Office properties, Medical offices

Location Insight

City
Front Royal
County
Warren
State
Virginia
Latitude
38.934458490523
Longitude
-78.200111661774
1360 Shenandoah Ave, Front Royal, Virginia

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1360 Shenandoah Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message