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Copperstone Medical Offices 847 Martin Luther King Jr Way

42,244 SF 100% Leased Office Building Harrisonburg, VA 22801 £6,236,059 (£148/SF) 6.86% Net Initial Yield

Investment Highlights

  • DaVita Dialysis center and other healthcare providers are tenants.
  • Three medical office buildings within one parcel.
  • Located just off I-81 Exit 247 and near James Madison University.

Executive Summary

This office complex has five tenants, all of whom provide healthcare services. Tenants include DaVita Dialysis Center, Sentara Healthcare, AvaCare, Bridging Health, and Chiropractic Center. The property consists of three buildings totaling 42,244 square feet. Currently, 27,256sf are leased and approximately 10,132sf is available for lease. The current leases will generate $545,567 in rental income in 2025. The tenants are responsible for all expenses through a CAM fee that is billed monthly. The Offering Price is based on a 6.86% CAP Rate on 2025 income and does not include any additional income opportunity with the current vacancy.
Full details of financials and lease terms are available upon execution of a Non-Disclosure Agreement by a serious purchaser.

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
42,244 SF
Building Class
B
Year Built
1976
Price
£6,236,059
Price Per SF
£148
Net Initial Yield
6.86%
NOI
£427,794
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
21,122 SF
Zoning
B2

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 2nd Floor
  • 5,097 SF
  • Office
  • Partial Build-Out
  • 30 Days

5,097 square feet available on 2nd floor with private offices, large conference rooms and a great entry lobby and reception area. Has an elevator to allow for ADA access to the second floor. Great signage right off MLK Jr. Way, surrounded by top medical companies, would be a great place for many different companies. Large parking for customers in front and employees in the back.

Space Size Space Use Condition Available
2nd Floor 5,097 SF Office Partial Build-Out 30 Days

2nd Floor

Size
5,097 SF
Space Use
Office
Condition
Partial Build-Out
Available
30 Days

2nd Floor

Size 5,097 SF
Space Use Office
Condition Partial Build-Out
Available 30 Days

5,097 square feet available on 2nd floor with private offices, large conference rooms and a great entry lobby and reception area. Has an elevator to allow for ADA access to the second floor. Great signage right off MLK Jr. Way, surrounded by top medical companies, would be a great place for many different companies. Large parking for customers in front and employees in the back.

Walk Score ®
Very Walkable (75)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
015-O-2
Land Assessment
£726,599
Improvements Assessment
£2,175,090
Total Assessment
£2,901,689
  • Listing ID: 34083101

  • Date on Market: 04/12/2024

  • Last Updated:

  • Address: 847 Martin Luther King Jr Way, Harrisonburg, VA 22801

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