10998 Clara Barton DrFairfax Station, VA 22039

Property Details for 10998 Clara Barton Dr

Year built

1946

Lot size

0.76 AC

Property size (Sq ft)

7,202 SF

Zone code

R-1(RESIDENTIAL 1 DU/AC)

Property type

Specialty properties

Property subtype

Other specialty properties

APN

077-1-02-0011

APU

771020011

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,000-square-foot medical office building in Fairfax Station, Virginia. Located at 10998 Clara Barton Dr, 22039, this single-tenant property is fully occupied by Veterinary Innovative Partners under a 10-year absolute NNN lease, commencing June 30, 2021, and expiring June 29, 2031. The lease includes a five-year option with 2% annual rent bumps. The property boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $157,836. Built in 2001, this building sits on a 0.76-acre lot within a densely populated, affluent area. The average household income within one mile is $204,231, and the population within five miles exceeds 185,000. The tenant is backed by a corporate guarantee, minimizing landlord responsibilities. This investment benefits from the resilient and growing veterinary services market, projected to experience significant growth in the coming years. The below-market rent provides further upside potential. The property's strong financials, long-term lease, and location in a high-demand area make it an attractive investment opportunity. The property offers a remaining lease term of approximately 6.6 years. The asking price is $2,338,311, translating to a price per square foot of $334.04.

• Alternative Use

  Use

  Valuation

  Residential

  $1,827,153

  Hospitality

  $1,673,662

  Educational

  $1,392,467

  Medical

  $1,440,356

  Retail

  $2,166,060

Location Insight

City

Fairfax Station

County

Fairfax

State

Virginia

Latitude

38.7963

Longitude

-77.3249

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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