$3,050,000
Price
162,479
Land SF
16,800
Building SF
2
Number of Tenants
$181.55
Price Per SF
8.41%
Cap Rate

Investment Overview

  • Marcus & Millichap is pleased to present the Offering Memorandum for 8051 Prosperity Way, located in Ruther Glen, Virginia. This 16,800-square-foot, fully leased office property delivers stable cash flow from two long-term tenants and is strategically positioned in a growing submarket. The first floor is occupied by MEDICORP, the real estate arm of Mary Washington Healthcare, which began its tenancy in 2021. Founded in 1899, Mary Washington Healthcare has evolved into a non-profit regional health system that includes two hospitals with a combined 571 beds, three emergency departments, and more than 50 healthcare and wellness facilities. The organization is dedicated to improving the health and well-being of the communities it serves.
  • The second floor is leased to Health Connect America, which has operated at this location since 2020. Serving five southeastern states, Health Connect America delivers comprehensive mental and behavioral health services to children, families, and adults. KEYS Academy, acquired by HCA in 2014, functions as an affiliated private, coeducational day school licensed by the Commonwealth of Virginia. It serves K–12 students with special education needs, including classifications such as Emotional Disabilities (ED), Autism, Other Health Impairments (OHI), and Specific Learning Disabilities (SLD). KEYS Academy currently operates schools in Culpeper, Charlottesville, Augusta, and Caroline County, with one additional location in development.
  • The property is located in Ladysmith, a rapidly developing and underserved area within Caroline County, conveniently situated between the metropolitan hubs of Richmond and Fredericksburg. The surrounding retail and commercial activity further enhances the asset’s long-term value. With strong tenancy, contractual rent escalations, and enduring regional demand, 8051 Prosperity Way represents a compelling investment opportunity offering secure income and future growth potential.

Location Summary – Caroline County, Virginia

  • Caroline County, located in the heart of Virginia, occupies a strategic position between two of the state’s fastest-growing metro areas—Richmond to the south and Fredericksburg to the north. Anchored along the I-95 corridor, the county offers exceptional regional connectivity, linking Northern Virginia, Washington, D.C., and Greater Richmond. Access to major highways, active rail lines, and nearby airports makes Caroline highly attractive for both businesses and residents.
  • The county has experienced steady population and economic growth, supported by favorable market conditions, affordable living, and proactive local leadership. Ample developable land, strong quality of life, and a growing pro-business climate have driven residential expansion and attracted a wide range of commercial and industrial investments. Continued infrastructure upgrades—including roads, utilities, and broadband—further enhance Caroline’s appeal as a growth market.
  • Caroline’s economy is diverse, with strengths in government, healthcare, education, and logistics. Its location along I-95 has positioned the county as an emerging logistics and distribution hub, while neighboring employment centers in Fredericksburg and Richmond contribute to overall economic stability. However, gaps remain, particularly in healthcare and education, creating strong demand for new facilities such as 8051 Prosperity Way.
  • The county’s demographic trends are equally promising. A growing population base, increasingly drawn by Caroline’s affordability and high quality of life, is creating a deepening pool of both residents and skilled labor. In turn, this dynamic is driving demand across residential, commercial, and service sectors, offering compelling opportunities for investors seeking long-term tenant stability and income growth.
  • With its strategic location, strong growth, business-friendly climate, and development momentum, Caroline County is one of Central Virginia’s most promising emerging markets for real estate investment. Investors today can capitalize on sustained demand and long-term upside in this well-connected, rapidly evolving community.

Investment Highlights

  • Ideally located off I-95 in Ladysmith, VA, the property lies between Richmond and Fredericksburg in a fast-growing corridor with 3,500+ homes planned and expanding employers like Amazon and McKesson nearby
  • The property is fully leased to Mary Washington Healthcare and Health Connect America (KEYS Academy), with rent escalations, renewal options, and essential services that ensure long-term stability
  • The area benefits from major healthcare and government investment, including a $200M regional medical center and a $375M VA clinic, boosting long-term tenant demand
  • This best-in-class office/medical building boasts prominent Route 1 frontage and is conveniently located near retail, dining, and essential services, enhancing its appeal to tenants and visitors
FOR MORE DETAILS CONTACT
Kristina Ermyakina
Associate Investments
(804) 601-4606
Kristina.Ermyakina@marcusmillichap.com
0225258858
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