Retail/Office Space with
471 Chatham Heights Rd Fredericksburg, VA
For Sale
Contact for pricing
Retail or office space with detached garage in Fredericksburg.
Property Size5,090 SF
Lot Size1.39 Acres
Price / SF$157.17
Days on Market1111
Property Features for 471 Chatham Heights Rd
General Information
- Standard status
- Active
- Size
- 5,090 SF
- Lot size
- 1.39 Acres
- Property subtype
- RETAIL
Listing Agency:
Cushman & Wakefield | Thalhimer - Fredericksburg
(540) 846-1390
Listed By:
Virgil Nelson · License #0225029080
(540) 846-1390
Source:
Moodyscre
Added: Jul 10, 2023
Changed: Jul 6
Last Checked: Jul 21 at 6:42AM
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
Investment Insights
Based on property information with market context.
This property features 3,590 square feet of office or retail space, complemented by approximately 1,500 square feet of detached garage space. The property benefits from an excellent location at a busy, signalized intersection, situated across from a Wawa and a CVS. Additionally, the property is directly adjacent to 0.68 acres that are also for sale.
Key Highlights
- Excellent location at busy, signalized intersection across from Wawa and CVS.
- 3,590 SF of office or retail space.
- Approximately 1,500 SF of detached garage space.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.3k | $20.88 |
| − Vacancy | −$2.8k | −$0.54 |
| EGI | $103.5k | $20.34 |
| − OpEx | −$31.1k | −$6.10 |
| NOI | $72.5k | $14.24 |
5,090 SF · lease $20.88/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.04M
$905.8K – $1.21M
NOI $72,461 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,686 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
628 Studios
Hair Salon
Hollywood Hair Studios
Hair Salon
FAQs
What type of property is this?
Retail space - Retail or office space with detached garage in Fredericksburg.
Where is this retail space located?
The property is located at 471 Chatham Heights Rd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Excellent location at busy, signalized intersection across from Wawa and CVS.; **3,590 SF of office or retail space.**; Approximately 1,500 SF of detached garage space.
