Office Building with Central
For Sale
$699,999
29 CULPEPER STREET, Warrenton, VA 20186
Includes multiple offices, waiting rooms, conference rooms, and lower-level storage.
Property Size3,630 SF
Price / SF$192.84
Days on Market521
Property Features for 29 CULPEPER STREET
General Information
Standard status
Active
Size
3,630 SF
Property subtype
Office
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,318
Amenities
Central Air
3
Parking.
On Street.
Other.
Building Details
Year Built
1890
Listing Agency:
(540) 270-4819
Listed By:
Ross Real Estate
(540) 270-4819
Source:
Xome
Added: Mar 21, 2025
Changed: Aug 21
Last Checked: Aug 23 at 2:40AM
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 Ross Real Estate
Investment Insights
Based on property information with market context.
This office property offers 3,630 square feet within a building constructed in 1890. The layout supports multiple private offices along with waiting or conference areas, while additional storage is located on the lower level. Central air conditioning is installed, and the building has an entrance from Culpeper Street.
The property is situated in Old Town Warrenton at 29 Culpeper Street. Parking is available on the street. The sale is subject to a boundary line adjustment and Town approval for separating the currently integrated building.
The property is situated in Old Town Warrenton at 29 Culpeper Street. Parking is available on the street. The sale is subject to a boundary line adjustment and Town approval for separating the currently integrated building.
Key Highlights
- 3,630 SF office property in Old Town Warrenton
- Building constructed in 1890
- Multiple offices plus waiting and conference areas
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
$48,603
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
6.94%
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%
$972,060
$972.1K
Cap Rate 7%
$694,329
$694.3K
Cap Rate 9%
$540,033
$540.0K
Market Conditions
NOI Build-Up for 3,630 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
$75.8K $20.88/SF
− Vacancy
−$11.0K −$3.03/SF
EGI
$64.8K $17.85/SF
− OpEx
−$16.2K −$4.46/SF
NOI
$48.6K $13.39/SF
Area
Fauquier County, VA
Vacancy
14.50%
Lease Rate
$20.88 /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%
$972,060
Cap Rate 7%
$694,329
Cap Rate 9%
$540,033
Alternative Uses
Best Use
Office B
$694.3K
$607.5K – $810.1K
NOI $48,603 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.02M
$1.76M – $2.35M
NOI $141,134 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Includes multiple offices, waiting rooms, conference rooms, and lower-level storage.
Where is this office building located?
The property is located at 29 CULPEPER STREET Warrenton, VA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 3,630 SF office property in Old Town Warrenton; Building constructed in 1890; Multiple offices plus waiting and conference areas
