Mary Washington Healthcare Credit Rating & NNN Cap Rate

Mary Washington Healthcare Business Overview & NNN Investment Profile

Mary Washington Healthcare is the dominant nonprofit health system in Virginia’s Fredericksburg region — serving one of the fastest-growing population corridors in the United States. Operating two hospitals (Mary Washington Hospital in Fredericksburg and Stafford Hospital in Stafford County) and over 50 outpatient care sites, the system is the primary healthcare anchor for the Interstate 95 corridor between Washington D.C. and Richmond — a rapidly expanding suburban and exurban market driven by federal government and defense industry employment in Northern Virginia.

The Fredericksburg Growth Market: Why It Matters for NNN

The Fredericksburg region is one of the most compelling healthcare real estate growth markets on the East Coast. Stafford County is among the fastest-growing counties in Virginia, driven by federal government contractors, defense technology firms, and Northern Virginia residential overflow pricing families south along I-95. Population growth of 25% to 35% projected through 2035 in Stafford and Spotsylvania counties creates sustained healthcare demand that underpins Mary Washington’s expanding outpatient network — and the NNN properties within it.

Mary Washington Healthcare NNN Cap Rate & Pricing

Mary Washington Healthcare NNN properties trade at cap rates between 5.50% and 6.50% as of Q1 2026. The A‑/A3 rating and the high-growth Fredericksburg corridor positioning support competitive pricing. The system’s smaller $800M revenue scale relative to major national health systems like Ascension or HCA commands a modest premium — typically 25 to 50 basis points wider than the largest nonprofit systems — while still firmly within the investment-grade pricing band. Acquisition prices range from $2,000,000 for smaller freestanding outpatient clinics to $8,000,000 for larger medical office buildings.

Comparable NNN Tenants