Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Car Wash Redevelopment Opportunity Title is generated by Realmo AI

    1603 DIXON ST, Fredericksburg, VA 22401

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    3,770 SF car wash with redevelopment potential.

    Type:Retail, Land, Special Purpose
    Property size:
    3,770 SF
    Price / SF:
    $258/SF
    Added:
    May 12, 2026
    Days on Market:
    19
    Last Refresh:
    May 14 at 9:32 pm

    Property Features for 1603 DIXON ST

    General Information

    Standard status
    Active
    Size
    3,770 SF
    Property subtype
    Retail, Land, Special Purpose

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    Fitzhugh Johnson
    Fitzhugh Johnson

    Listing agent Fitzhugh Johnson License #0225245881

    Listing office Johnson Realty Advisors

    Listing date May 12, 2026

    Source Crexi

    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 Johnson Realty Advisors

    HighLights

    • Strong frontage and visibility from Dixon Street (Rt. 2)
    • 3,770 SF existing car wash building
    • Redevelopment opportunity
    • Surrounded by residential and commercial development
    • Convenient access
    • Year Built: 1979

    Overview

    The property features an existing 3,770 square-foot car wash building. It benefits from strong frontage and visibility on Dixon Street (Route 2). The site presents a redevelopment opportunity and is surrounded by both residential and commercial developments, offering convenient access.

    Local Financial Insights For Specialty 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 $78.7k $20.88
    − Vacancy −$2.7k −$0.71
    EGI $76.0k $20.17
    − OpEx −$19.0k −$5.04
    NOI $57.0k $15.13
    3,770 SF · lease $20.88/SF/yr · vacancy 3.40% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $814.7K
    $712.9K – $950.5K (±1% cap)
    NOI $57,031 @ 7.0% cap · market cap 5.85%
    Second Best
    Retail
    $766.7K
    $670.9K – $894.5K (±1% cap)
    NOI $53,670 @ 7.0% cap · market cap 5.50%
    Theoretical Best
    Office A
    $1.18M
    $1.03M – $1.38M (±1% cap)
    NOI $82,722 @ 7.0% cap · market cap 8.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Car washes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.454567
    Latitude
    38.283092

    Nearby Similar for Sale

    • $789,924

      Fredericksburg Office Condominium For Sale

      Office condominium ideal for owner-user or investor in Fredericksburg.
      927 MAPLE GROVE Drive, FREDERICKSBURG, VA 22407
      View Details
    • $849,900
      4,723 SF

      Fredericksburg Triplex: Investor Opportunity

      Income-producing triplex near University of Mary Washington.
      1318 DANDRIDGE Street, FREDERICKSBURG, VA 22401
      View Details
    • $1,100,000

      Historic Commercial Building on 1.4 Acres

      Unique commercial property with historical significance and high visibility.
      77 CAMBRIDGE Street, FREDERICKSBURG, VA 22405
      View Details
    • $1,500,000

      Fredericksburg Office Building Investment

      8,652 SF office building in a prime commercial corridor.
      3920 PLANK Road, FREDERICKSBURG, VA 22407
      View Details
    • $789,924
      3,196 SF

      Fredericksburg Office Condo For Sale

      3196 SF office condo ideal for owner-user or investor.
      927 MAPLE GROVE Dr 201, Fredericksburg, VA 22407
      View Details
    • $500,000
      2,406 SF

      Commercial Building with Apartment, Garage

      Commercial building with apartment, garage, and existing lease.
      4611 Ewell Rd, Fredericksburg, VA
      View Details
    • $2,899,999

      Fredericksburg Estate with River Frontage

      200+ acre estate with Rappahannock River frontage.
      1432 KINGS HWY, FREDERICKSBURG, VA 22405
      View Details
    • $399,000
      468 SF

      Fredericksburg Commercial Property on Princess Anne

      468 SF commercial property in shell condition on Princess Anne.
      1504 PRINCESS ANNE St, Fredericksburg, VA 22401
      View Details
    • $575,000
      6,000 SF

      New Industrial/Flex Space Available

      New industrial/flex suites available for sale or lease.
      3406 Shannon Park Dr, Fredericksburg, VA 22408
      View Details
    • $1,690,000
      5,000 SF

      Car Wash and Auto Shop

      5,000 SF car wash and auto shop for sale.
      4636 MINE Rd, Fredericksburg, VA 22408
      View Details
    • $575,000
      1,400 SF

      Harrison Crossing South Condo Available

      1400 sq ft condo in high-traffic area for sale.
      7001 HARRISON ROAD 3, FREDERICKSBURG, VA 22407
      View Details
    • $550,000
      2,580 SF

      Luxury Home in Active Community

      Nearly-new home in premier 55+ community with upscale features.
      7102 ECKERT Court, FREDERICKSBURG, VA 22407
      View Details

    FAQs

    What type of property is this?
    Car wash - 3,770 SF car wash with redevelopment potential.
    Where is this car wash located?
    The property is located at 1603 DIXON ST Fredericksburg, VA.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Strong frontage and visibility from Dixon Street (Rt. 2); 3,770 SF existing car wash building; Redevelopment opportunity
    (540) 372-7675 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Fitzhugh Johnson
    Fitzhugh Johnson
    Real Estate License ID: 0225245881
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1603 DIXON ST, FREDERICKSBURG, VA 22401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!