Retail Condo in Multi-Tenant
For Sale
$575,000
7001 HARRISON Road, Fredericksburg, VA 22407
Commercial Sale, FREDERICKSBURG, VA
Property Size1,400 SF
Price / SF$410.71
Days on Market1364
Property Features for 7001 HARRISON Road
General Information
Property type
Other
Property subtype
Retail
Parking
60
Elementary school district
SPOTSYLVANIA COUNTY PUBLIC SCHOOLS
Middle school district
SPOTSYLVANIA COUNTY PUBLIC SCHOOLS
High school district
SPOTSYLVANIA COUNTY PUBLIC SCHOOLS
Standard status
Active
Additional Details
Corner Location
Yes
Taxes and HOA fees
Tax Annual Amount
23211
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
2007
Number of units
6
Building materials
Masonry, Dryvit
Listing Agency:
Janet M Bahmer
Listed By:
Janet M Bahmer · License #0225110975
(540) 785-6295
Added: Feb 3, 2023
Changed: Oct 27
Last Checked: Oct 29 at 5:06PM
MLS# VASP2015358
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1400 sq ft retail condominium occupies space within a 14,000 sq ft multi-tenant building completed in 2007. The property is positioned on a corner lot with frontage along Harrison Road and Old Plank Road. Masonry and Dryvit construction, along with heat-pump heating and cooling, are part of the existing improvements.
The property is located in Harrison Crossing South near Giant Foods, Lidl, Home Depot, Walgreens, McDonalds, PetCo, Taco Bell, and Harry's Ale House, all identified as within walking distance. Riverbend High School, Chancellor HS, and Harrison Rd Elementary are also nearby. 2022 VDOT estimates report 39,000 vpd on Route 3, 15,000 vpd on Harrison Road, and 11,000 vpd on Old Plank Road.
C-3 zoning allows uses within retail, office, or medical categories. Co-tenants include Creative Child Care, Creative Music Academy, and State Farm Insurance.
The property is located in Harrison Crossing South near Giant Foods, Lidl, Home Depot, Walgreens, McDonalds, PetCo, Taco Bell, and Harry's Ale House, all identified as within walking distance. Riverbend High School, Chancellor HS, and Harrison Rd Elementary are also nearby. 2022 VDOT estimates report 39,000 vpd on Route 3, 15,000 vpd on Harrison Road, and 11,000 vpd on Old Plank Road.
C-3 zoning allows uses within retail, office, or medical categories. Co-tenants include Creative Child Care, Creative Music Academy, and State Farm Insurance.
Key Highlights
- 1400 sq ft retail condominium in a 14,000 sq ft multi‑tenant building
- Corner‑lot frontage on Harrison Road and Old Plank Road
- C‑3 zoning allows retail, office, and medical uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,930
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,600
$398.6K
Cap Rate 7%
$284,714
$284.7K
Cap Rate 9%
$221,444
$221.4K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$29.2K $20.88/SF
− Vacancy
−$760 −$0.54/SF
EGI
$28.5K $20.34/SF
− OpEx
−$8.5K −$6.10/SF
NOI
$19.9K $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 Rate 5%
$398,600
Cap Rate 7%
$284,714
Cap Rate 9%
$221,444
Alternative Uses
Best Use
Retail
$284.7K
$249.1K – $332.2K
NOI $19,930 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.8K
$384.0K – $512.0K
NOI $30,719 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
311k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Groceries 23%
Shops & Services 16%
Apparel 3%
Giant
Groceries
48,940 visits/mo
0.4 miles
McDonald's
Dining
27,654 visits/mo
0.2 miles
SONIC Drive In
Dining
24,800 visits/mo
0.4 miles
Lidl
Groceries
23,827 visits/mo
0.4 miles
Wendy's
Dining
20,248 visits/mo
0.4 miles
Demographics for 22407, VA
62,668
Population
23,305
Households
2.7
Avg Household Size
38
Median Age
33%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
1,027
Density / Sq Mi
$105,218
Median Household Income
$47,282
Median Earnings
$1,758
Median Rent
$376,200
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - C-3 zoning supports retail, office, and medical uses.
Where is this retail space located?
The property is located at 7001 HARRISON Road Fredericksburg, VA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1400 sq ft retail condominium in a 14,000 sq ft multi‑tenant building; Corner‑lot frontage on Harrison Road and Old Plank Road; C‑3 zoning allows retail, office, and medical uses
