112 Houston StLexington, VA 24450

Property Details for 112 Houston St

Year built

1994

Property size (Sq ft)

5,170 SF

Zone code

RLC

Property type

Investment properties

Property subtype

Live-work space

APN

29 1 33A#

APU

29133A

Description

This exceptional investment opportunity presents a stabilized, multi-building medical office complex totaling 7,384 square feet situated on a 0.53-acre lot in Lexington, Virginia. The Class C property, offered at $1,150,000, boasts a 7.9% CAP rate and features a NNN lease structure across multiple tenancies. Strategically located adjacent to Carilion Rockbridge Community Hospital, this property benefits from high visibility and convenient access from Interstate 81. The complex is part of a medical park campus with shared parking, ensuring ample space for patients and staff. The strong demographics of the area, including a population exceeding 21,000 within a 15-minute radius and an average household income surpassing $84,000, contribute to the property's significant growth potential. Proximity to major institutions like Washington & Lee University (1,850+ students) and the Virginia Military Institute (1,520+ students) further enhances its appeal. The hospital alone employs over 265 people and receives over 4,500 visitors, creating a consistent stream of potential patients and clients. This presents a compelling investment opportunity for those seeking a stable, high-return asset in a thriving medical market. The two buildings are situated in Lexington County, VA, zip code 24450, and offer a unique blend of accessibility, location, and strong tenant occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $761,644

  6.5%

  $703,056

  7%

  $652,838

• Comparable approach

  Method

  Valuation

  Relative Method

  $886,361

  Geo Method

  $1,210,460

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,473,030

  Retail / Commercial

  $727,558

  Hospitality / Lodging

  $487,286

  Office

  $676,061

  Institutional / Educational

  $723,065

  Residential Income

  $845,986

  Multifamily

  $1,136,090

  Automotive / Energy

  $619,770

  Parking / Income-Based Land

  $235,520

  Restaurant / Food Service

  $318,909

  Healthcare / Senior Housing

  $743,438

Location Insight

City

Lexington

County

Lexington City

State

Virginia

Latitude

37.7782

Longitude

-79.4426

Property Tax & Assessments

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