818 Sophia StFredericksburg, VA 22401

Property Details for 818 Sophia St

Year built

1812

Lot size

0.09 AC

Property size (Sq ft)

1,839 SF

Zone code

CD

Property type

Other commercial real estate

APN

7789-15-9024

APU

7789159024

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $444,053

  Hospitality

  $406,750

  Educational

  $338,412

  Medical

  $350,050

  Retail

  $526,418

Location Insight

City

Fredericksburg

County

Fredericksburg City

State

Virginia

Latitude

38.3029

Longitude

-77.458

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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