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Office Medical

Fresenius & Addus Hospice

1922 - 1924 Tappahannock Blvd, Tappahannock, VA 22560

Listing Price: $2,350,000

Cap Rate
6.43%
Rentable SF
8,116
Occupancy
100.0%
Year Built
1991
Lot Size
1.14 acres

Investment Overview

Marcus & Millichap is pleased to present this 8,116-square foot facility for Fresenius Kidney Care and Addus Hospice. Located in Tappahannock, Virginia this attractive medical office building situated on 1.14 acres was carefully site selected by Fresenius & Addus Hospice. Fresenius features a double net (NN) lease and currently has six years and seven months remaining on the early five-year lease extension. In addition, the tenant has three five-year renewal options. Addus features a gross lease and currently has one year and 11 months remaining on the original three year lease. This Fresenius Dialysis & Addus Hospice property benefits from being situated approximately one mile from the 67 bed VCU Health Tappahannock Hospital. Located off of Church Lane the building sees daily traffic counts of approximately 22,000 vehicles per day. Additionally, the facility is strategically located within close access to Richmond Highway and Tidewater Trail which run southwest to Richmond, Virginia and Southeast to Newport News, Virginia respectively. Tappahannock is the oldest town in Essex County, Virginia. Located on the Rappahannock River, Tappahannock is the county seat of Essex County. Essex County is a county located in the middle peninsula of Virginia. As of the 2010 Census the population was 11,151. Addus Hospice relocated from a retail center in Tappahannock, Virginia to this location in 2020. This location is strategic for the tenant as it is situated within close proximity to VCU Health Tappahannock Hospital. Additionally, the clinic is located nearby several medical office buildings. The site offers a generous amount of parking for the tenant and is strategically located just up the street from Richmond Highway and Tidewater Trail giving patients and employees easy ingress / egress to the site without having to travel through downtown Tappahannock, Virginia. This building has been noted to be one of the nicest / best located medical office facilities within all of Tappahannock, Virginia.

Investment Highlights

  • Fresenius just Extended Early for a Five-Year Renewal - Six Years and Seven Months Remaining
  • Fresenius has been in Operations at this Facility since April of 1991
  • Both Leases Feature Annual Rental Increases
  • Fresenius - Three Five-Year Options to Renew
  • Addus Hospice - One Three-Year Option to Renew
  • Addus Hospice Relocated to this Facility in 2020 Showing Strong Commitment to the Location
  • Fresenius - Double Net (NN) Lease - Limited Landlord Responsibilities

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Office Medical

Fresenius & Addus Hospice

Listing Price: $2,350,000

Cap Rate
6.43%
Rentable SF
8,116
Occupancy
100.0%
Year Built
1991
Lot Size
1.14 acres

Investment Highlights

  • Fresenius just Extended Early for a Five-Year Renewal - Six Years and Seven Months Remaining
  • Fresenius has been in Operations at this Facility since April of 1991
  • Both Leases Feature Annual Rental Increases
  • Fresenius - Three Five-Year Options to Renew
  • Addus Hospice - One Three-Year Option to Renew
  • Addus Hospice Relocated to this Facility in 2020 Showing Strong Commitment to the Location
  • Fresenius - Double Net (NN) Lease - Limited Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present this 8,116-square foot facility for Fresenius Kidney Care and Addus Hospice. Located in Tappahannock, Virginia this attractive medical office building situated on 1.14 acres was carefully site selected by Fresenius & Addus Hospice. Fresenius features a double net (NN) lease and currently has six years and seven months remaining on the early five-year lease extension. In addition, the tenant has three five-year renewal options. Addus features a gross lease and currently has one year and 11 months remaining on the original three year lease. This Fresenius Dialysis & Addus Hospice property benefits from being situated approximately one mile from the 67 bed VCU Health Tappahannock Hospital. Located off of Church Lane the building sees daily traffic counts of approximately 22,000 vehicles per day. Additionally, the facility is strategically located within close access to Richmond Highway and Tidewater Trail which run southwest to Richmond, Virginia and Southeast to Newport News, Virginia respectively. Tappahannock is the oldest town in Essex County, Virginia. Located on the Rappahannock River, Tappahannock is the county seat of Essex County. Essex County is a county located in the middle peninsula of Virginia. As of the 2010 Census the population was 11,151. Addus Hospice relocated from a retail center in Tappahannock, Virginia to this location in 2020. This location is strategic for the tenant as it is situated within close proximity to VCU Health Tappahannock Hospital. Additionally, the clinic is located nearby several medical office buildings. The site offers a generous amount of parking for the tenant and is strategically located just up the street from Richmond Highway and Tidewater Trail giving patients and employees easy ingress / egress to the site without having to travel through downtown Tappahannock, Virginia. This building has been noted to be one of the nicest / best located medical office facilities within all of Tappahannock, Virginia.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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