1360 Shenandoah AveFront Royal, VA 22630

Property Details for 1360 Shenandoah Ave

Year built

2012

Lot size

0.65 AC

Property size (Sq ft)

6,152 SF

Zone code

C1

Property type

Healthcare properties

Property subtype

Medical offices

APN

20A220 G A1B

APU

20A220GA1B

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,464,239

  6.5%

  $1,351,605

  7%

  $1,255,062

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,230,031

  Geo Method

  $1,230,031

• Alternative Use

  Use

  Valuation

  Residential

  $1,675,990

  Hospitality

  $1,535,198

  Educational

  $1,277,267

  Medical

  $1,321,194

  Retail

  $1,986,860

Location Insight

City

Front Royal

County

Warren

State

Virginia

Latitude

38.9342

Longitude

-78.1997

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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