Harrison Crossing South Condo
7001 HARRISON ROAD 3 Fredericksburg, VA 22407
7001 HARRISON ROAD 3, Fredericksburg, VA, 22407
$575,000
For Sale
$575,000
1400 sq ft condo in high-traffic area for sale.
Property Size1,400 SF
Price / SF$410.71
Days on Market1260
Property Features for 7001 HARRISON ROAD 3
General Information
- Standard status
- Active
- Size
- 1,400 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2007
Listing Agency
Janet M Bahmer
(540) 785-6295
Listed by
Janet M Bahmer · License #0225110975
(540) 785-6295
Source
Exitrealty
Added: Feb 4, 2023 Checked: Jul 17 at 3:36 am
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 Janet M Bahmer
Investment Insights
Based on property information with market context.
A 1400 sq ft condo is available for purchase in Harrison Crossing South. The property is located in a multi-tenant building on a corner lot with frontage on Harrison Road and Old Plank Road. The location benefits from high traffic counts, with major retailers such as Giant Foods, Lidl, Home Depot, Walgreens, McDonalds, PetCo, Taco Bell, and Harry's Ale House within walking distance. The surrounding area includes Riverbend High School, Chancellor HS, and Harrison Rd Elementary, contributing to activity and exposure. Traffic estimates from 2022 by VDOT indicate 39,000 vehicles per day on Route 3, 15,000 vehicles per day on Harrison Road, and 11,000 vehicles per day on Old Plank Road. The site is within a 5-mile radius of 85,600 people, with an average household income of $84,700. The C-3 zoning allows for various uses within retail, office, or medical sectors. The 14,000 sq ft building's co-tenants include Creative Child Care, with a capacity for 225 children, Creative Music Academy, and State Farm Insurance. This property is suitable for an owner or investor.
Key Highlights
- High‑traffic location with excellent visibility on a corner lot.
- C‑3 zoning allows for a wide range of retail, office, or medical uses.
- Located in a high‑profile area with major retailers within walking distance.
Local Financial Insights For Office B
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 | $38.1k | $27.24 |
| − Vacancy | −$3.5k | −$2.53 |
| EGI | $34.6k | $24.71 |
| − OpEx | −$8.6k | −$6.18 |
| NOI | $25.9k | $18.53 |
1,400 SF · lease $27.24/SF/yr · vacancy 9.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$370.6K
$324.3K – $432.4K
NOI $25,942 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.8K
$384.0K – $512.0K
NOI $30,719 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Creative Child Care ...
Daycare Center
Creative Art Studio
Vocational School
Creative Music Academy
Tutoring Service
MyArtScene.com
Artist
kandra orr
Art Gallery
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - 1400 sq ft condo in high-traffic area for sale.
Where is this office units located?
The property is located at 7001 HARRISON ROAD 3 Fredericksburg, VA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility on a corner lot.; C‑3 zoning allows for a wide range of retail, office, or medical uses.; Located in a high‑profile area with major retailers within walking distance.
