4845 Empire CtFredericksburg, VA 22401

Property Details for 4845 Empire Ct

Year built

1997

Property size (Sq ft)

14,057 SF

Property type

Office properties

Property subtype

Medical offices

Description

This exceptional Class A medical office building, totaling 14,057 square feet, is strategically located in Fredericksburg, Virginia, at 4845 Empire Ct, zip code 22401. Currently occupied at 7% occupancy by a single tenant under a 5-year NNN lease with a 5-year option, offering a 7% cap rate in year one. The asking price is $4,200,000, translating to $298.78 per square foot. Built in 1997, the property boasts a prime location midway between Mary Washington Hospital and Spotsylvania Regional Medical Center, within a well-maintained office park alongside other medical facilities. The building's design allows for potential subdivision to accommodate multiple tenants, if desired. The lease features a base rent of $21.00 per square foot in year one, subject to 3% annual increases. Ample parking is available. This presents a compelling investment opportunity in a thriving medical corridor. The property is situated in Spotsylvania County and offers convenient access to downtown Fredericksburg.

Location Insight

City

Fredericksburg

County

Spotsylvania

State

Virginia

Latitude

38.3049

Longitude

-77.4817

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