Downtown Bethesda Medical Office Building 8216-8218 Wisconsin Ave 5 396 m² 50 % Loué Bureau Vente aux enchères en ligne Bethesda, MD 20814

Bethesda Medical Building is a 58,081-square-foot medical office building strategically situated with premier visibility along Wisconsin Avenue in the heart of Downtown Bethesda, Maryland. The property features five stories, including three leased ground-floor retail spaces, on a 15,339-square-foot CR-zoned lot with 50 commercial spaces. The property stretches the width of the block and enjoys frontage on both Wisconsin Avenue and Woodmont Avenue, immediately across from the Woodmont and Rugby Garage which services most tenants and patrons. Due to the property’s location, relatively low basis, and assemblage opportunity, the lot has potential redevelopment or adaptive reuse possibilities. New ownership could also utilize medical office expertise to reposition the asset by modernizing vacant spaces while being covered by existing income.

8216-8218 Wisconsin Avenue is primely located for tenants to benefit from the synergies that come with being in proximity to major medical institutions as it is conveniently positioned 0.3 miles from the National Institutes of Health, 1.2 miles from Suburban Hospital, and 0.7 miles from Walter Reed National Military Medical Center. The asset’s unmatched optimal location is the closest existing Bethesda medical office building to NIH and Walter Reed. This sought-after accessibility allows tenants the benefit of a robust patient base through referral business.

Bethesda Medical Building is notably sited within a robust and affluent community of 156,447 residents living within a quick 3-mile radius. These established residents bring in a significant average household income of about $248,307, have a median age range of 39-44, and live in 63% of owner-occupied households. This surrounding population also presents a highly educated workforce as 81% of residents obtain a bachelor’s degree or higher, exceptionally exceeding the national average of 35%.

Bethesda Medical Building offers a significant value-add opportunity through modern build-out and unit reconfigurations. With a 50.14% occupancy rate, the property has a significant opportunity to capitalize on vacant space for tenants that require medical build-out that is not present in the immediate submarket. New ownership is presented with the opportunity to modernize vacant space in order to attract tenants seeking modern medical office space and achieve top-of-market rents. The Bethesda Medical Building has been professionally owned and managed for several decades by a multifamily operator, allowing a value-add medical office building expert the opportunity to greatly improve tenant use and occupancy. Although current management has done an excellent job in keeping the space maintained and minimizing deferred maintenance, through investment in mechanical system upgrades and tenant build-out, the offering creates an opportunity to modernize suites in order to attract market-rate tenants.

Property tours are available by appointment only. Please contact the broker to schedule.