Central Park One Office
For Sale
Contact for pricing
1171 Central Park Blvd, Fredericksburg, VA 22401
Office improvements provide a dedicated setting for commercial occupancy.
Property Size13,102 SF
Price / SF$251.87
Days on Market182
Property Features for 1171 Central Park Blvd
General Information
Standard status
Active
Size
13,102 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Cushman & Wakefield Thalhimer - Fredericksburg, Virginia
Listed By:
Jamie Scully · License #VA 0225082322
(540) 322-4140
Source:
Crexi
Added: Mar 12
Changed: Aug 31
Last Checked: Sep 8 at 6:46AM
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 Cushman & Wakefield Thalhimer - Fredericksburg, Virginia
Investment Insights
Based on property information with market context.
Central Park One is an office building containing 13,102 square feet of commercial space. The property is located at 1171 Central Park Blvd in Fredericksburg, Virginia 22401.
Key Highlights
- 13,102‑square‑foot office building
- Located at 1171 Central Park Blvd, Fredericksburg, VA 22401
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$242,780
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,855,600
$4.9M
Cap Rate 7%
$3,468,286
$3.5M
Cap Rate 9%
$2,697,556
$2.7M
Market Conditions
NOI Build-Up for 13,102 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$356.9K $27.24/SF
− Vacancy
−$33.2K −$2.53/SF
EGI
$323.7K $24.71/SF
− OpEx
−$80.9K −$6.18/SF
NOI
$242.8K $18.53/SF
Area
Spotsylvania County, VA
Vacancy
9.30%
Lease Rate
$27.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,855,600
Cap Rate 7%
$3,468,286
Cap Rate 9%
$2,697,556
Alternative Uses
Best Use
Office B
$3.47M
$3.03M – $4.05M
NOI $242,780 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.59M – $4.79M
NOI $287,486 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 22401, VA
27,799
Population
12,270
Households
2.3
Avg Household Size
32
Median Age
47%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
2,673
Density / Sq Mi
$85,432
Median Household Income
$46,891
Median Earnings
$1,518
Median Rent
$461,600
Median Home Value
Market
Vacancy Rate% for Office in Fredericksburg, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office improvements provide a dedicated setting for commercial occupancy.
Where is this office building located?
The property is located at 1171 Central Park Blvd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 13,102‑square‑foot office building; Located at 1171 Central Park Blvd, Fredericksburg, VA 22401
