Building Details

Year Built 1976

Year Renovated 1976

Listing Agency: Wright Realty, Inc.

Listed By: Edward B Wright III · License #0225039100 Show Phone

Source: Elkaimpropertygroup

Added: Jul 13 Changed: Oct 10 Last Checked: Oct 7 at 3:37PM

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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 Wright Realty, Inc.

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Investment Insights

Based on property information with market context.

This three-lot property totals 0.74 acres and is zoned CBD (Commercial Business District) and PSP. It includes a 4,156 sf historic house renovated in 1976, currently used as an office on the corner of Culpeper Street, as well as a 400 sf retail structure on Lee Street. Public sewer, water, and gas are available to the site.

An adjoining public parking lot provides 130 spaces, supporting customer access for the existing uses. The property is located in Old Town Warrenton, with the potential for a new development plan if the historic house is relocated, as described in the current remarks.

Key Highlights

• Three lots totaling 0.74 acres in Old Town Warrenton, zoned CBD (Commercial Business District) and PSP
• Public sewer, water, and gas available on the site
• Includes a 4,156 SF historic house renovated in 1976, currently used as an office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$139,025

Cap Rate

6.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,780,500 $2.8M

Cap Rate 7%

$1,986,071 $2.0M

Cap Rate 9%

$1,544,722 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,156 SF

Gross rent

$208.0K $50.04/SF

− Vacancy

−$9.4K −$2.25/SF

EGI

$198.6K $47.79/SF

− OpEx

−$59.6K −$14.34/SF

NOI

$139.0K $33.45/SF

Area

Fauquier County, VA

Vacancy

4.50%

Lease Rate

$50.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,780,500

Cap Rate 7%

$1,986,071

Cap Rate 9%

$1,544,722

Alternative Uses

Best Use

Retail

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,025 @ 7.0% cap · market cap 6.32%

Second Best

Office B

$794.9K

$695.6K – $927.4K (±1% cap)

NOI $55,646 @ 7.0% cap · market cap 2.53%

Theoretical Best

Specialty Retail

$2.31M

$2.02M – $2.69M (±1% cap)

NOI $161,585 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

FirstLight Home Care ... Home Health Care Service Seniors Places Nursing Home Blu Water Scuba Vocational School Demeter Donor Management (Bike/Boat/Book/etc) Store Marks & Harrison Law Firm

Suggested Use

Top Pick Parking Lot & Garage Storage Facility Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Yes

Utilities to site

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Three-lot property zoned CBD and PSP with a renovated historic office and an existing small retail structure.

Where is this office building located?

The property is located at 50 Culpeper St Warrenton, 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: Three lots totaling 0.74 acres in Old Town Warrenton, zoned CBD (Commercial Business District) and PSP; Public sewer, water, and gas available on the site; Includes a 4,156 SF historic house renovated in 1976, currently used as an office