High-Bay Flex Space with
For Sale
$2,200,000
41 Wood Landing Rd, Fredericksburg, VA 22405
Work-oriented property combines a high-bay shop, vehicle storage areas, office space, and an attached apartment.
Property Size4,500 SF
Lot Size55.67 Acres
Price / SF$488.89
Days on Market36
Property Features for 41 Wood Landing Rd
General Information
Standard status
Active
Size
4,500 SF
Lot size
55.67 Acres
Additional Details
Outdoor Storage
Yes
Amenities
hot tub
heated salt-water pool
3-hole golf course
private pond
creek frontage
Building Details
Year Built
1983
Year Renovated
2000
Buildings
2
Listing Agency:
Keller Williams Realty/Lee Beaver & Assoc.
(540) 300-1077
Listed By:
Reina Robinson · License #0225193583
Source:
Premierehomegroup
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 1:13PM
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 Keller Williams Realty/Lee Beaver & Assoc.
Investment Insights
Based on property information with market context.
This 4,500-square-foot flex property includes a two-door high-bay shop, adjacent parking and open storage areas, and a separate office with a half bath. The shop accommodates up to seven large vehicles and includes a 10,000 lb lift, tool cages, a commercial auto vacuum, restroom, and wood stove. An attached two-bedroom apartment provides walk-in closets, an eat-in kitchen, living room, washer, and dryer, supporting live-work use or approved supplemental space.
The offering spans three parcels totaling 55.67 acres at 41 Wood Landing Rd in Fredericksburg, Virginia. Outdoor improvements include equipment staging areas, maintenance space, truck parking, a private pond, creek frontage, partially wooded acreage, and a three-hole golf course. Built in 1983 and upgraded in 2000, the property also includes a separate four-bedroom, two-bath bungalow with a pool and hot tub.
The offering spans three parcels totaling 55.67 acres at 41 Wood Landing Rd in Fredericksburg, Virginia. Outdoor improvements include equipment staging areas, maintenance space, truck parking, a private pond, creek frontage, partially wooded acreage, and a three-hole golf course. Built in 1983 and upgraded in 2000, the property also includes a separate four-bedroom, two-bath bungalow with a pool and hot tub.
Key Highlights
- 4,500‑square‑foot flex property on three parcels totaling 55.67 acres
- Two‑door high‑bay shop accommodates up to seven large vehicles
- 10,000 lb lift, tool cages, commercial auto vacuum, restroom, and wood stove
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
$83,385
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
3.79%
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%
$1,667,700
$1.7M
Cap Rate 7%
$1,191,214
$1.2M
Cap Rate 9%
$926,500
$926.5K
Market Conditions
NOI Build-Up for 4,500 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
$122.6K $27.24/SF
− Vacancy
−$11.4K −$2.53/SF
EGI
$111.2K $24.71/SF
− OpEx
−$27.8K −$6.18/SF
NOI
$83.4K $18.53/SF
Area
Spotsylvania County, VA
Vacancy
9.30%
Lease Rate
$27.24 /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%
$1,667,700
Cap Rate 7%
$1,191,214
Cap Rate 9%
$926,500
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,385 @ 7.0% cap · market cap 3.79%
Second Best
Retail
$915.2K
$800.8K – $1.07M
NOI $64,062 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,740 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22405, VA
34,430
Population
13,058
Households
2.6
Avg Household Size
38
Median Age
44%
College-Educated
95%
High-School Grad
53.3 sq mi
ZIP Area
646
Density / Sq Mi
$128,315
Median Household Income
$62,794
Median Earnings
$1,931
Median Rent
$413,100
Median Home Value
Market
Vacancy Rate% for Office in Fredericksburg, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Work-oriented property combines a high-bay shop, vehicle storage areas, office space, and an attached apartment.
Where is this flex space located?
The property is located at 41 Wood Landing Rd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4,500‑square‑foot flex property on three parcels totaling 55.67 acres; Two‑door high‑bay shop accommodates up to seven large vehicles; 10,000 lb lift, tool cages, commercial auto vacuum, restroom, and wood stove
