Updated Feb 6, 2025
Medical Office Building Sold In Fairfax VA For $7.85M With KLNB Brokers Joe Friedman & Joshua Norwitz
8500 Executive Park Avenue
$7,850,000
$145/SF
Building Size
54,085 SF
Asset Type
Medical Office
Closing
Feb 5, 2025
About this deal
AI
A 54,085-square-foot medical office building was sold for $7,850,000 located at 8500 Executive Park Avenue in Fairfax, VA. The sale reflects the strong demand for medical office properties in Northern Virginia amidst challenges in the broader office market.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $7,850,000
- Address: 8500 Executive Park Avenue
- Market: Fairfax, VA
- Square Footage: 54,085
- Price Per Square Foot: $145
- Brokers: Joe Friedman & Joshua Norwitz - KLNB
KLNB facilitated the sale, highlighting plans for increasing medical occupancy in the building, which underscores the ongoing interest in medical office assets within the region.
On the Map
$7,850,000
$145/SF
Medical Office
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Fairfax Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93