• Richmond Medical Park - 2010 Bremo Rd, Richmond, VA 23226

For Sale

Office

For Sale

This property is available for sale
2.43
Acres
Negotiable
Sale Price
  • Overview

    Richmond Medical Park, located in Richmond's premier I-64/Glenside submarket, is a Class B, 105,741 square foot medical office campus locate adjacent to Bon Secours' #1 system wide hospital (48 hospitals in total), St. Mary's Hospital and 1.9 miles from HCA's regional flagship hospital (185 hospitals in total), Henrico Doctor's Hospital. Situated between two dominant East/West arteries, Richmond Medical Park was designed as a true medical campus with five buildings around a central courtyard with accessible and abundant parking.


    92.3% of the Property's current in-place rent is 9.8% below the market rental rate, providing investors with a strong mark to market NOI growth opportunity of over 29%. Combined with the highly attractive underlying property and market fundamentals, Richmond Medical Park provides investors cash flow stability with immediate upside opportunity and an attractive opportunity to create yield and value.


     

    Premier location with flagship hospital proximity.
    Upside opportunity with 92.3% of in-place rents, 9.8% below market.
    Diverse medical tenancy comprising 92.7% of the rent roll.
    12 years of weighted average tenancy and 3.1 years of WALT.
    Close proximity to countless amenities and executive housing.

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Property Details

Richmond Medical Park, located in Richmond's premier I-64/Glenside submarket, is a Class B, 105,741 square foot medical office campus locate adjacent to Bon Secours' #1 system wide hospital (48 hospitals in total), St. Mary's Hospital and 1.9 miles from HCA's regional flagship hospital (185 hospitals in total), Henrico Doctor's Hospital. Situated between two dominant East/West arteries, Richmond Medical Park was designed as a true medical campus with five buildings around a central courtyard with accessible and abundant parking.


92.3% of the Property's current in-place rent is 9.8% below the market rental rate, providing investors with a strong mark to market NOI growth opportunity of over 29%. Combined with the highly attractive underlying property and market fundamentals, Richmond Medical Park provides investors cash flow stability with immediate upside opportunity and an attractive opportunity to create yield and value.


 

Premier location with flagship hospital proximity.
Upside opportunity with 92.3% of in-place rents, 9.8% below market.
Diverse medical tenancy comprising 92.7% of the rent roll.
12 years of weighted average tenancy and 3.1 years of WALT.
Close proximity to countless amenities and executive housing.

  • Property Type
    Office
  • Submarket
  • Total Acres
    2.43
  • Building Class
    B
  • Last updated
    Feb 13, 2020
  • Property ID
    2133063

Landlord's Sales Representatives

  • Mark Williford
    Colliers | Richmond - North
     
  • Will Bradley
    Colliers | Richmond - North