Renovated Mixed-Use
For Sale
$699,900
1012 S MAIN Street, Culpeper, VA 22701
Multi-Family, CULPEPER, VA
Property Size3,200 SF
Lot Size0.22 Acres
Price / SF$218.72
Days on Market210
Property Features for 1012 S MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Parking Lot
Subdivision
TOWN OF CULPEPER
Elementary school
FARMINGTON
Middle school
FLOYD T. BINNS
High school
EASTERN VIEW
Elementary school district
CULPEPER COUNTY PUBLIC SCHOOLS
Middle school district
CULPEPER COUNTY PUBLIC SCHOOLS
High school district
CULPEPER COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
3,200 SF
Lot size
0.22 Acres
Additional Details
Tenant in Place
Yes
Mixed-Use Components
commercial, residential
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Annual Amount
1425
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1965
Number of units
4
Building materials
Block
Architectural style
Other
Buildings
1
Listing Agency:
Belcher Real Estate, LLC.
Listed By:
Alexander L Belcher · License #0225196620
(540) 300-9669
Added: Apr 1
Changed: Oct 27
Last Checked: Oct 27 at 8:06PM
MLS# VACU2013184
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Recently renovated mixed-use building at 1012 S MAIN Street with 3,200 square feet on a 0.2203-acre parcel. The main level contains two commercial suites, a shared common area, and a bathroom. The layout also supports conversion of the commercial level into two additional residential units, as described in the property information.
Two apartments occupy the upper level, each configured with 2 bedrooms and 1 full bathroom. One apartment is leased, while the other is vacant. Each residential unit has independent utility metering. The 1965 building has block construction, hot water heating, central air, and both on-street and parking-lot parking.
Two apartments occupy the upper level, each configured with 2 bedrooms and 1 full bathroom. One apartment is leased, while the other is vacant. Each residential unit has independent utility metering. The 1965 building has block construction, hot water heating, central air, and both on-street and parking-lot parking.
Key Highlights
- 3,200‑square‑foot mixed‑use building on a 0.2203‑acre parcel
- Two commercial suites with shared common area and bathroom
- Two upstairs apartments, each with 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,800
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,000
$1.1M
Cap Rate 7%
$797,143
$797.1K
Cap Rate 9%
$620,000
$620.0K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$96.0K $30.00/SF
− Vacancy
−$6.7K −$2.10/SF
EGI
$89.3K $27.90/SF
− OpEx
−$33.5K −$10.46/SF
NOI
$55.8K $17.44/SF
Area
Culpeper County, VA
Vacancy
7.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,000
Cap Rate 7%
$797,143
Cap Rate 9%
$620,000
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,046 @ 7.0% cap · market cap 15.29%
Second Best
Mixed Use
$797.1K
$697.5K – $930.0K
NOI $55,800 @ 7.0% cap · market cap 7.97%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.07M
NOI $124,416 @ 7.0% cap · market cap 17.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
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Business Placement
Demographics for 22701, VA
37,411
Population
13,770
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
172.2 sq mi
ZIP Area
217
Density / Sq Mi
$93,910
Median Household Income
$47,492
Median Earnings
$1,386
Median Rent
$376,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial suites and two upstairs apartments create a flexible mixed-use configuration with separate utility metering.
Where is this mixed-use property located?
The property is located at 1012 S MAIN Street Culpeper, VA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,200‑square‑foot mixed‑use building on a 0.2203‑acre parcel; Two commercial suites with shared common area and bathroom; Two upstairs apartments, each with 2 bedrooms and 1 full bathroom
