For Sale
$725,000

818 Sophia St Fredericksburg, VA 22401

Historic Office, High Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 1,839 square foot office building, located at 818 Sophia Street in the heart of Downtown Fredericksburg, Virginia, presents a compelling investment opportunity. The property boasts a strong 6.79% cap rate and a favorable Net Lease (NNN) structure with a single tenant. The three-story building features six private offices, a convenient kitchenette, and a private courtyard, offering both functionality and charm. The building sits on a 0.09-acre lot and benefits from excellent street frontage and visibility on Sophia Street, ensuring high traffic and brand recognition. The current lease is a seven-year term, commencing July 1, 2024, and expiring June 30, 2031, with a remaining term of approximately 6.6 years. Rent increases are built into the lease with 3% annual bumps. The property is zoned CD and offers a Net Operating Income (NOI) of $49,200. The asking price is $725,000, translating to a price per square foot of $394.24. This historic building combines the best of old-world charm with modern functionality, making it an ideal investment for discerning buyers seeking a stable, high-return property in a vibrant downtown location. The property's walkability and curb appeal add to its overall desirability. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving Virginia market.

Highlights

  • 1,839 SF office building in Downtown Fredericksburg, VA.
  • Three-story building with six private offices, kitchenette, and private courtyard.
  • Excellent street frontage and visibility on Sophia Street.
  • 6.79% cap rate, $49,200 NOI, $725,000 asking price ($394.24/SF).
  • Net lease (NNN) with a single tenant; seven-year lease (6.6 years remaining) with 3% annual rent increases.

Property Details for 818 Sophia St

Property type
Office properties, Office space
Square Feet
1,839 SF
Buildings
1
Stories
3
Lot Size (sq. ft)
3,920 SF

Location Insight

City
Fredericksburg
County
Stafford
State
Virginia
Latitude
38.302915976505
Longitude
-77.457898016458

FAQs

What type of property is this?
Office property - Historic Office, High Cap Rate, NNN Lease
Where is the office property located?
The property is located at 818 Sophia St Fredericksburg, VA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1,839 SF office building in Downtown Fredericksburg, VA.; Three-story building with six private offices, kitchenette, and private courtyard.; Excellent street frontage and visibility on Sophia Street.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
818 Sophia St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message