Corner Retail Space with Outdoor
For Sale
$750,000
12167 LEE Highway, Sperryville, VA 22740
Commercial Sale, SPERRYVILLE, VA
Property Size2,435 SF
Lot Size0.91 Acres
Price / SF$308.01
Days on Market213
Property Features for 12167 LEE Highway
General Information
Property type
Other
Property subtype
Retail
Parking
17
Parking features
Parking Lot
Elementary school district
RAPPAHANNOCK COUNTY PUBLIC SCHOOLS
Middle school district
RAPPAHANNOCK COUNTY PUBLIC SCHOOLS
High school district
RAPPAHANNOCK COUNTY PUBLIC SCHOOLS
Standard status
Active
Lot size
0.91 Acres
Taxes and HOA fees
Tax Annual Amount
1859
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
two operational hoods
wheelchair accessible
outdoor dining/activities space
Building Details
Year built
1962
Number of units
1
Building materials
Masonry
Listing Agency:
KW United · Keller Williams Realty
(703) 533-1500
Listed By:
Sarah Foster Paul · License #0225238727
(571) 286-1041
Added: Mar 25
Changed: Sep 5
Last Checked: Oct 23 at 3:06PM
MLS# VARP2002542
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.
Located at 12167 Lee Highway in Sperryville, this 2,435-square-foot masonry building occupies 0.91 acres and was built in 1962. The wheelchair-accessible property includes a parking lot, central air, heat-pump heating, and outdoor storage buildings. Two operational hoods remain from the building’s original restaurant-oriented design.
The current use is a dog training, boarding, and grooming center. The property also includes space for outdoor dining or activities and has been identified for restaurant, retail, or medical-office use. The owner requires 60 days prior to settlement to vacate, and showings are by appointment.
The current use is a dog training, boarding, and grooming center. The property also includes space for outdoor dining or activities and has been identified for restaurant, retail, or medical-office use. The owner requires 60 days prior to settlement to vacate, and showings are by appointment.
Key Highlights
- 2,435‑square‑foot masonry building on 0.91 acres
- Two operational hoods from original restaurant‑oriented design
- Wheelchair‑accessible building with central air and heat‑pump heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,194
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,880
$763.9K
Cap Rate 7%
$545,629
$545.6K
Cap Rate 9%
$424,378
$424.4K
Market Conditions
NOI Build-Up for 2,435 SF
Gross rent
$68.1K $27.96/SF
− Vacancy
−$4.4K −$1.82/SF
EGI
$63.7K $26.14/SF
− OpEx
−$25.5K −$10.46/SF
NOI
$38.2K $15.69/SF
Area
Rappahannock County, VA
Vacancy
6.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,880
Cap Rate 7%
$545,629
Cap Rate 9%
$424,378
Alternative Uses
Best Use
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,673 @ 7.0% cap · market cap 12.62%
Second Best
Retail
$1.16M
$1.02M – $1.36M
NOI $81,455 @ 7.0% cap · market cap 10.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 22740, VA
1,240
Population
583
Households
2.1
Avg Household Size
53
Median Age
38%
College-Educated
98%
High-School Grad
73.5 sq mi
ZIP Area
17
Density / Sq Mi
$96,220
Median Household Income
$49,569
Median Earnings
$1,354
Median Rent
$398,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail space - Wheelchair-accessible building with two operational hoods, parking, and room for outdoor activities.
Where is this retail space located?
The property is located at 12167 LEE Highway Sperryville, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,435‑square‑foot masonry building on 0.91 acres; Two operational hoods from original restaurant‑oriented design; Wheelchair‑accessible building with central air and heat‑pump heating
