1860 Town Center Dr #230, Reston, VA

Health Care for Sale - $1,170,920 - 3,208 Sq. Ft. on 0.07 acres


Agent Info

Stephen Karbelk
RealMarkets

Property Info

CIMLS#1066894
Location
  1860 Town Center Dr #230
  Reston VA 20190
UpdatedJanuary 31st, 2020
TypeHealth Care
Price$1,170,920
Building3,208 Sq. Ft.
Land0.07 acres

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Property Description

FOR SALE - $1,170,920 - We are pleased to present for sale this 3,208 SF turnkey, medical condo in Reston, VA. Built in 2004, the property sits on the Reston Hospital campus. Owned and occupied by an internal medicine practice for 15 years, the space has 7 exam rooms with sinks and 4 offices, some of which might be converted into procedure rooms or additional exam rooms. Medical professionals will benefit from the property’s proximity to the hospital along with the free and ample parking (5.13 spaces/1,000 SF). Condo dues are $7.95/SF; however, unlike most condo properties, they cover all utilities in addition to common area maintenance, repairs, and reserves. The condominium association reserves are well-funded and there is no deferred maintenance or scheduled special assessments. The property was appraised at $1,100,000 in 2009 and, since then, average sales prices/SF in Reston have increased by 39.8% and market rents have increased by 18.1%. At the asking price, the cost of ownership is $7.50/SF lower than the cost to lease comparable space.



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