For Sale
$725,000

818 Sophia StFredericksburg, VA 22401

Historic Office, High Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
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
818 Sophia St, Fredericksburg, Virginia

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818 Sophia St
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