3630 George Washington Mem Hwy - Medical FOR SALE


Yorktown, VA 23693
$3,750,000 USD
757-848-4116
3630 George Washington Mem Hwy, Yorktown, VA for Sale
$3,750,000 USD
Medical - FOR SALE
1/23
null | 8.6% Cap Rate

3630 George Washington Mem Hwy
Yorktown, VA 23693


HIGHLIGHTS

  • Meticulously maintained 43,560-SF colonial-style office building in the heart of Yorktown, Virginia.
  • Class B office space has been recently retrofitted to accommodate the evolving needs of its occupants.
  • Rental rates, though below market value, are poised for a significant uptick. With escalations ranging from 3 to 5% for all tenants.
  • Positioned on a generous 2.16-acre parcel, the complex boasts ample parking with 155 spaces.
  • Convenient access to major transportation arteries, including I-64 and the nearby Newport News International Airport.

OVERVIEW

Bracket Real Estate presents a meticulously maintained colonial-style office building in the heart of Yorktown, Virginia. Boasting a sprawling 43,560 square feet of versatile space, this property presents a lucrative venture for savvy investors seeking stable returns and substantial growth potential. Currently fully leased to a roster of reputable local tenants on long-term agreements, this property guarantees a steady income stream. The rental rates, though below market value, are poised for a significant uptick. With escalations ranging from 3 to 5% for all tenants. Originally constructed in 1970 and expanded in 1983, this Class B office space has been thoughtfully retrofitted to accommodate the evolving needs of its occupants. The building comprises 16 office suites, meticulously designed to cater to a diverse range of professional services and medical practices. Adding further versatility, the property offers 2,000 square feet of warehouse space exclusively for tenant use. Positioned on a generous 2.16-acre parcel, the complex boasts ample parking with 155 spaces, ensuring convenience for both tenants and visitors alike. The location's accessibility is unparalleled, with direct access to the bus line and prominent monument signage commanding attention along George Washington Memorial Highway. Strategically situated in York County, the building enjoys excellent visibility with over 300 feet of frontage and a staggering 55,000 daily vehicle count along George Washington Memorial Hwy. Its central location amid thriving schools, churches, and residential neighborhoods further enhances its appeal, ensuring a steady flow of clientele. Convenient access to major transportation arteries, including Interstate 64 and the nearby Newport News International Airport served by Delta and American Airlines, underscores the property's strategic advantage. Whether seeking a stable income generator or a lucrative value-add opportunity, this premier office building promises to be a cornerstone of success for the discerning investor. Lamar P. Fisher Fisher Auction Company Inc. License: 2907003627 Co:2908000783

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$86 USD /SF

CAP RATE

8.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Pilgrim Village

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

155

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,090 SF

ZONING

GB GENERAL

APN/PARCEL ID

S04B-3323-3745

ASK ABOUT THIS PROPERTY

Thomas TuckerPilgrim Village IncMore Info
757-848-4116

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Thomas TuckerPilgrim Village IncMore Info
757-848-4116

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.