Commercial Building with Apartment,
For Sale
$500,000
4611 Ewell Rd, Fredericksburg, VA 22408
Commercial building with apartment, garage, and existing lease.
Property Size2,406 SF
Lot Size0.46 Acres
Price / SF$207.81
Days on Market101
Property Features for 4611 Ewell Rd
General Information
Standard status
Active
Size
2,406 SF
Lot size
0.46 Acres
Taxes and HOA fees
Annual Taxes
$2,597
Listing Agency:
RE/MAX Supercenter
(540) 834-3200
Listed By:
Joseph S Cleveland · License #225191567
(540) 834-3200
Source:
Exprealty
Added: May 16
Changed: Aug 20
Last Checked: Aug 24 at 9:37AM
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 RE/MAX Supercenter
Investment Insights
Based on property information with market context.
This commercial building, zoned C3, is situated on approximately 0.46 acres in Spotsylvania County, Virginia. The building offers 2,406 square feet of usable commercial space, featuring upgraded extra-wide glass double front doors, tile flooring in the main office and showroom area, a half bath, and pull-down attic access. Upgraded exterior drains are located near the front of the building, which also includes a video surveillance system and window-unit heating and AC. Public water and sewer services are connected, along with an electric water heater. The property includes an attached one-bedroom, one-bathroom apartment with a kitchen, as well as an attached two-bay garage with 15-foot doors and an above-ground lift. The mostly paved lot can accommodate 35 to 50 vehicles. An existing lease is in place at $7,000 per month, transferring with the property and expiring on December 31, 2027. The building has a brick and block exterior. The property is located near Route 208 (Courthouse Road), 0.3 miles from Route 1, and 1 mile from I-95, providing convenient access to Northern Virginia and Richmond. The yearly real estate taxes are $2,488.54.
Key Highlights
- Existing lease in place for $7,000/month expiring 12/31/27.
- Commercial C3 zoning on .46 +/- acres in a desirable location near major routes.
- Building includes a 1 BR/1 BA apartment and a 2‑bay garage with 15' doors and above ground lift.
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
$34,252
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
6.85%
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%
$685,040
$685.0K
Cap Rate 7%
$489,314
$489.3K
Cap Rate 9%
$380,578
$380.6K
Market Conditions
NOI Build-Up for 2,406 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
$50.2K $20.88/SF
− Vacancy
−$1.3K −$0.54/SF
EGI
$48.9K $20.34/SF
− OpEx
−$14.7K −$6.10/SF
NOI
$34.3K $14.24/SF
Area
Spotsylvania County, VA
Vacancy
2.60%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
30.00%
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%
$685,040
Cap Rate 7%
$489,314
Cap Rate 9%
$380,578
Alternative Uses
Best Use
Retail
$489.3K
$428.2K – $570.9K
NOI $34,252 @ 7.0% cap · market cap 6.85%
Second Best
Industrial
$222.4K
$194.6K – $259.5K
NOI $15,567 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$754.2K
$659.9K – $879.9K
NOI $52,793 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
180k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 30%
Groceries 14%
Apparel 4%
McDonald's
Dining
30,433 visits/mo
0.4 miles
Ollie's Bargain Outlet
Shops & Services
26,763 visits/mo
0.3 miles
Royal Farms
Shops & Services
24,432 visits/mo
0.4 miles
Aldi
Groceries
21,968 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,097 visits/mo
0.2 miles
Demographics for 22408, VA
32,043
Population
12,438
Households
2.6
Avg Household Size
36
Median Age
40%
College-Educated
92%
High-School Grad
47.3 sq mi
ZIP Area
677
Density / Sq Mi
$114,598
Median Household Income
$54,934
Median Earnings
$1,771
Median Rent
$353,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with apartment, garage, and existing lease.
Where is this auto shop located?
The property is located at 4611 Ewell Rd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Existing lease in place for $7,000/month expiring 12/31/27.; Commercial C3 zoning on .46 +/- acres in a desirable location near major routes.; Building includes a 1 BR/1 BA apartment and a 2‑bay garage with 15' doors and above ground lift.
