Medical Condos for Sale in the Washington Metropolitan Area
One of the newest trends in the Washington Metropolitan Area real estate market is medical condos for sale. While office condominiums on their own aren’t a new concept, those catering to health care professionals are starting to be seen as both a matter of convenience and investment. And no, these aren’t residential condos for doctors, or residences in a medical building. Instead, it’s the idea of sharing equity in a building rather than renting or leasing.
Medical Condos for Sale in the Washington Metropolitan Area
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Medical condos for sale in the Washington Metropolitan area are often built in close proximity to large medical facilities, such as hospitals. This gives doctors in private practice, as well as specialized medical technologies such as blood labs or radiology, the ability to be close to facilities that they serve. For doctors in particular, especially those who often perform services in hospitals, that nearness can be a matter of great practicality, especially during unexpected events.
But what makes the condo aspect so attractive? For one, there’s the matter of being able to own your own space without buying an entire building. And, there’s a level of control that you won’t find with office leasing—if the space belongs to you, it can be customized and modeled to whatever your medical office needs are, without seeking permission from the owner, or the added cost that will never be recouped.
The rise of medical condos for sale in the Washington Metropolitan area and across the country, isn’t just relegated to individual units, but a tilt toward new medical communities where entire buildings and blocks of contiguous space are being developed in a complementary fashion. This is especially true with large infill projects, where swaths of urban territory are in an evolutionary phase.
Owners of medical practices and other health and science businesses will continue to explore and take advantage of this expanding real estate landscape. From Washington DC itself to rapidly transforming cities such as Tysons Corner in Virginia, the health care industry is continuing to expand in new and transformative ways, and medical condominiums is an important part of the growth pattern. To learn more, call District Partners at Compass, 202-798-3600.
