Upgraded Commercial Property on Courthouse
For Sale
$625,000
10745 Courthouse, Fredericksburg, VA 22408
Versatile commercial property ideal for retail, office, or studio.
Property Size1,314 SF
Price / SF$475.65
Days on Market195
Property Features for 10745 Courthouse
General Information
Standard status
Active
Size
1,314 SF
Building Details
Year Built
1985
Listing Agency:
Coldwell Banker Elite
Listed By:
Allison S Graves · License #0225083193
(540) 373-0100
Source:
Soldbypattie
Added: Mar 27
Changed: Oct 4
Last Checked: Oct 5 at 7:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Elite
Investment Insights
Based on property information with market context.
This upgraded commercial property is located at the signalized hard corner of Courthouse Road (Route 208) and Hood Drive in Spotsylvania County. The property features two buildings, offering strong exposure, natural light, and flexible layouts suitable for retail, office, medical, studio, or professional service users. The main building was thoroughly renovated in 2020, and a new HVAC system was installed in 2022. This primary structure includes three open and versatile rooms, a reception area, a kitchen, and a restroom. Currently operating as a tattoo and art studio, the space can be adapted to boutique retail, salon, wellness, counseling, design, or general office use. Large front display windows and additional windows throughout the building provide ample natural light and maximize street visibility. A second detached studio offers a private, single-room layout with its own bathroom, suitable for an executive office, treatment room, studio, or rental suite. Oversized windows enhance visibility and create a bright, professional setting. The seller has plans for constructing another building on the site. Situated along a primary commuter corridor with convenient access to I-95 and Route 1, the property benefits from steady daily traffic and proximity to dense residential areas, neighborhood retail, and the Fredericksburg VA Health Care Center.
Key Highlights
- High‑visibility location at the signalized hard corner of Courthouse Road (Route 208) and Hood Drive.
- Thorough renovation in 2020, including a new HVAC system installed in 2022.
- Versatile layout suitable for retail, office, medical, studio, or professional service use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,706
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,120
$374.1K
Cap Rate 7%
$267,229
$267.2K
Cap Rate 9%
$207,844
$207.8K
Market Conditions
NOI Build-Up for 1,314 SF
Gross rent
$27.4K $20.88/SF
− Vacancy
−$713 −$0.54/SF
EGI
$26.7K $20.34/SF
− OpEx
−$8.0K −$6.10/SF
NOI
$18.7K $14.24/SF
Area
Spotsylvania County, VA
Vacancy
2.60%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,120
Cap Rate 7%
$267,229
Cap Rate 9%
$207,844
Alternative Uses
Best Use
Retail
$267.2K
$233.8K – $311.8K
NOI $18,706 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$411.9K
$360.4K – $480.5K
NOI $28,832 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
172k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 31%
Groceries 13%
Apparel 4%
McDonald's
Dining
30,433 visits/mo
0.5 miles
Ollie's Bargain Outlet
Shops & Services
26,763 visits/mo
0.5 miles
Royal Farms
Shops & Services
24,432 visits/mo
0.4 miles
Aldi
Groceries
21,968 visits/mo
0.4 miles
Dollar Tree
Shops & Services
13,097 visits/mo
0.5 miles
Demographics for 22408, VA
32,043
Population
12,438
Households
2.6
Avg Household Size
36
Median Age
40%
College-Educated
92%
High-School Grad
47.3 sq mi
ZIP Area
677
Density / Sq Mi
$114,598
Median Household Income
$54,934
Median Earnings
$1,771
Median Rent
$353,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial property ideal for retail, office, or studio.
Where is this retail space located?
The property is located at 10745 Courthouse Fredericksburg, VA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: High‑visibility location at the signalized hard corner of Courthouse Road (Route 208) and Hood Drive.; Thorough renovation in 2020, including a new HVAC system installed in 2022.; Versatile layout suitable for retail, office, medical, studio, or professional service use.
