Mixed-Use Building with
521 William Street, Fredericksburg, VA 22401
For Sale
Contact for pricing
A sidewalk-entry commercial space sits alongside residential quarters arranged across three levels.
Property Size4,698 SF
Price / SF$468.28
Days on Market15
Property Features for 521 William Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Road Access
Mixed-Use Components
Amenities
commercial patio space
elevator access
private drive with off-street garage parking
Building Details
Buildings
Tenancy
Listing Agency:
Lando Massey Real Estate
Listed By:
Tim Webb · License #0225205735
(540) 907-0014
Source:
Crexi
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 4:11PM
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 Lando Massey Real Estate
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Investment Insights
Based on property information with market context.
This mixed-use property contains two units and approximately 4,698+/- square feet overall. The commercial area includes 688 interior space and a 600+/- commercial patio in addition to the stated building area. Residential space spans three levels and includes four bedrooms, three full bathrooms and one half bath, with elevator access. A private drive and garage provide off-street parking. There is also access to the first-floor residential area from the commercial space for live/work use.
Located on William Street in downtown Fredericksburg, the property has street and sidewalk entry to the commercial space. The site is zoned CD (Commercial Downtown), and the commercial area is described for office, retail, wellness, fitness, hospitality or residential use. No deferred maintenance is reported.
Located on William Street in downtown Fredericksburg, the property has street and sidewalk entry to the commercial space. The site is zoned CD (Commercial Downtown), and the commercial area is described for office, retail, wellness, fitness, hospitality or residential use. No deferred maintenance is reported.
Key Highlights
- Two units with approximately 4,698+/- SQF overall
- 688 interior commercial space and 600+/- commercial patio space, additional to overall square footage
- Three levels of residential space with elevator access; four bedrooms and 3 1/2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,054
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,741,080
$1.7M
Cap Rate 7%
$1,243,629
$1.2M
Cap Rate 9%
$967,267
$967.3K
Market Conditions
NOI Build-Up for 4,698 SF
Gross rent
$128.0K $27.24/SF
− Vacancy
−$11.9K −$2.53/SF
EGI
$116.1K $24.71/SF
− OpEx
−$29.0K −$6.18/SF
NOI
$87.1K $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 Rate 5%
$1,741,080
Cap Rate 7%
$1,243,629
Cap Rate 9%
$967,267
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,054 @ 7.0% cap · market cap 3.96%
Second Best
Retail
$955.4K
$836.0K – $1.11M
NOI $66,881 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,084 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,952
Businesses Nearby
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Business Placement
Demographics for 22401, VA
27,799
Population
12,270
Households
2.3
Avg Household Size
32
Median Age
47%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
2,673
Density / Sq Mi
$85,432
Median Household Income
$46,891
Median Earnings
$1,518
Median Rent
$461,600
Median Home Value
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Market
Vacancy Rate% for Office in Fredericksburg, VA
Frequently Asked Questions
What type of property is this?
Mixed-use property - A sidewalk-entry commercial space sits alongside residential quarters arranged across three levels.
Where is this mixed-use property located?
The property is located at 521 William Street 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: Two units with approximately 4,698+/- SQF overall; 688 interior commercial space and 600+/- commercial patio space, additional to overall square footage; Three levels of residential space with elevator access; four bedrooms and 3 1/2 bathrooms
