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Office Medical

Gateway Medical

6188 Oxon Hill Rd, Oxon Hill, MD 20745

Listing Price: Request For Offer

Gross SF
62,938
Rentable SF
62,938
Occupancy
57.0%
Year Built
1972
Lot Size
2.51 acres

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership of Gateway Medical Center, located at 6188 Oxon Hill, in Oxon Hill, Maryland (the “Property”) a 62,938 square-foot mid rise, medical office building just minutes from downtown Washington and national harbor in Prince George’s County, Maryland. Flanked by to two already stabilized Medical office buildings, this rough 60% leased multi-tenanted medical office building presents an ideal opportunity to introduce unique amenities and further specialization of medical tenancy in an already strong hub for medical care in the County. The Property and its sister building 6190 Oxon hill were purchased together In June 2019 by national hotel developer, Laxmi Properties, which has is nearly completed permitting for the repositioning 6190 for hotel use, a by-right use. Despite the times, Laxmi is moving aggressively to develop a complementary and valuable adjacency that will only enhance the success Gateway Medical Center. The conversion of 6190 also removes 50,000 SF of competitive space from this already tight medical market. Rivertowne Commons Marketplace, at 386,000 SF is anchored by Target and other banner retailers and serves as a strong local focal pointe for the surrounding community. While nearby “National Harbor” is a major draw for the entire region, the local community tends to center around Rivertowne Commons Marketplace, immediately opposite the Property on Oxon Hill Road which averages some 32,000 vehicles per day. The Property and its sister building were sold at auction with a myriad of issues plaguing the complex. The ownership has stabilized the tenancy, and established excellent tenant performance even during these times. Now, with clarity on the future hotel development of 6190 Oxon Hill, there is a clear opportunity to propel the success of Gateway Medical Center.

Investment Highlights

  • 62,938 Square-Foot Multi-Tenanted Office Building 57% Leased With 100% Medical Tenancy.
  • Just Ten Minutes From The National Capitol, With Over 123,000 Residents Within A Three-Mile Radius.
  • Oxon Hill Road (32,000+ VPD), Opposite The Area's Largest Shopping and Entertainment Center.
  • Aging Population in Place, Average Household Incomes of $91,000 in A Ten Mile Radius.
  • A Strong Going in Yield With Considerable Options for Additional Specialized Use or Partial Users.
  • Almost 250,000 SF of Nearby/Adjacent Competitive Space Today Has Been Repositioned to Other Uses.

Exclusively Listed By

  • Andrew Kern

    Senior Managing Director Investments

    (813) 387-4758

    Email Andrew

    License(s): MD: 644516, VA: 0225050738, FL: SL3469341, NC: LC798

    Tampa

  • Robert Filley

    First Vice President Investments

    (202) 536-3736

    Email Robert

    License(s): DC: sp98366082, MD: 579129, VA: 0225 079990

    Washington, D.C.

  • Randall Heilig

    Vice President Investments

    (202) 536-3766

    Email Randall

    License(s): DC: SP98365171, MD: 621822

    Washington, D.C.

  • Daniel Gaffey

    Associate

    (202) 536-3715

    Email Daniel

    License(s): DC: SP200203414, MD: 678806

    Washington, D.C.

Listing Price: Request For Offer

Gross SF
62,938
Rentable SF
62,938
Occupancy
57.0%
Year Built
1972
Lot Size
2.51 acres

Investment Highlights

  • 62,938 Square-Foot Multi-Tenanted Office Building 57% Leased With 100% Medical Tenancy.
  • Just Ten Minutes From The National Capitol, With Over 123,000 Residents Within A Three-Mile Radius.
  • Oxon Hill Road (32,000+ VPD), Opposite The Area's Largest Shopping and Entertainment Center.
  • Aging Population in Place, Average Household Incomes of $91,000 in A Ten Mile Radius.
  • A Strong Going in Yield With Considerable Options for Additional Specialized Use or Partial Users.
  • Almost 250,000 SF of Nearby/Adjacent Competitive Space Today Has Been Repositioned to Other Uses.

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership of Gateway Medical Center, located at 6188 Oxon Hill, in Oxon Hill, Maryland (the “Property”) a 62,938 square-foot mid rise, medical office building just minutes from downtown Washington and national harbor in Prince George’s County, Maryland. Flanked by to two already stabilized Medical office buildings, this rough 60% leased multi-tenanted medical office building presents an ideal opportunity to introduce unique amenities and further specialization of medical tenancy in an already strong hub for medical care in the County. The Property and its sister building 6190 Oxon hill were purchased together In June 2019 by national hotel developer, Laxmi Properties, which has is nearly completed permitting for the repositioning 6190 for hotel use, a by-right use. Despite the times, Laxmi is moving aggressively to develop a complementary and valuable adjacency that will only enhance the success Gateway Medical Center. The conversion of 6190 also removes 50,000 SF of competitive space from this already tight medical market. Rivertowne Commons Marketplace, at 386,000 SF is anchored by Target and other banner retailers and serves as a strong local focal pointe for the surrounding community. While nearby “National Harbor” is a major draw for the entire region, the local community tends to center around Rivertowne Commons Marketplace, immediately opposite the Property on Oxon Hill Road which averages some 32,000 vehicles per day. The Property and its sister building were sold at auction with a myriad of issues plaguing the complex. The ownership has stabilized the tenancy, and established excellent tenant performance even during these times. Now, with clarity on the future hotel development of 6190 Oxon Hill, there is a clear opportunity to propel the success of Gateway Medical Center.

Exclusively Listed By

  • Andrew Kern

    Senior Managing Director Investments

    (813) 387-4758

    Email Andrew

    License(s): MD: 644516, VA: 0225050738, FL: SL3469341, NC: LC798

    Tampa

  • Robert Filley

    First Vice President Investments

    (202) 536-3736

    Email Robert

    License(s): DC: sp98366082, MD: 579129, VA: 0225 079990

    Washington, D.C.

  • Randall Heilig

    Vice President Investments

    (202) 536-3766

    Email Randall

    License(s): DC: SP98365171, MD: 621822

    Washington, D.C.

  • Daniel Gaffey

    Associate

    (202) 536-3715

    Email Daniel

    License(s): DC: SP200203414, MD: 678806

    Washington, D.C.

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