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1410 Incarnation Dr
Charlottesville, VA 22901

$2,950,000 USD

Medical Condo For Sale  •  15,338 SF

Property Details

  • Property Type Medical
  • Total Building Size 30,000 SF
  • Lot Size 2 AC
  • Building Class B
  • Year Built 2000
  • Tenancy Multiple
  • Zoning PUD Planned Unit Developm
30 Transit Score
60 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 101 Medical Office 15,338 SF $2,950,000 USD
  • Unit Size: 15,338 SF
  • Condo Use: Medical Office
  • Price: $2,950,000 USD
  • Sale Type: Investment
  • Price/SF: $192.33 USD
Description
This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium in approximately 15,340 sq. ft. A medical sports & rehabilitation company lease approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,829 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 days written notice. The balance of this unit, approximately 3,098 sq. ft., is occupied by MDM Solutions LLC. They pay $3,859 per month on a triple net lease. Their base rent increases by two percent (2.0%) April 1st each year.

Sale Notes
Investors and 1031 exchange purchasers. This property will fit well into your portfolio. Approximately 12,000 sq. ft. of this unit is under a five(5) year, triple net lease to a sports and medical rehabilitation company with the first year base rent at $17,829 per month. The base rent escalates every January by one and one half(1.50%) percent. The remaining 3,000+/- sq.  ft. of this unit is currently occupied by MDM Solutions LLC. Their base rent is $3,859 per month with a two percent(2.0%) annual increase on April 1st each year.

Description 

This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium is approximately 15,340 sq. ft. A sports and medical rehabilitation facility occupy approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,565 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 day written notice. The balance of the condominium, approximately 3,100 sq. ft., is occupied by the owners, and has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person who works for the business that occupies the larger area of the condominium. Additionally, this smaller section of the condominium my be rented as an office/business space. Please contact agent for additional details and questions.

Highlights

Attractive for investors & 1031 exchange purchasers.
Major tenant is a successful & long running sports and rehabilitation company.
Well located in Seminole Trail(US Route29) business corridor.
Close to retail, office, medical care facilities & residential areas.

Amenities

  • Bus Line
  • Controlled Access
  • Kitchen
  • Central Heating
  • Open-Plan
  • Drop Ceiling
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
11 min - 4.3 mi
AirportDriveWalkDistance
Charlottesville-Albemarle 13 min - 6.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 80
Type: Surface
Included in Rent: Yes
David Cooke 434-981-1667 Long & Foster Real Estate, Inc.
David Cooke 434-981-1667 Long & Foster Real Estate, Inc.