Renovated Three-Level Office
For Sale
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822 LAFAYETTE BOULEVARD, Fredericksburg, VA 22401
CT-zoned property supports office, light retail, and other low-intensity business uses.
Property Size2,000 SF
Price / SF$1.70
Days on Market94
Property Features for 822 LAFAYETTE BOULEVARD
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
CT
Building Details
Year Built
1929
Buildings
1
Stories
3
Listing Agency:
Town & Country Elite Realty, LLC.
Listed By:
Betty Westerlund · License #0225193041
(540) 845-7247
Source:
Cummingsrealtors
Added: Jul 25
Changed: Oct 25
Last Checked: Oct 24 at 6:24PM
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 Town & Country Elite Realty, LLC.
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Investment Insights
Based on property information with market context.
Built in 1929, this 2,000-square-foot office property offers three levels, including an unfinished basement, along with two full bathrooms. The building has undergone substantial updates, including a new roof, doors, windows, flooring, dual HVAC, hot-water tank, and kitchen. A paved driveway leads to a rear parking area with space for five vehicles.
Located at 822 Lafayette Boulevard in downtown Fredericksburg, the property is zoned CT and supports office, light retail, and other low-intensity business uses. It also qualifies for the SBA HUBZone program, providing an additional consideration for eligible occupants or purchasers.
Located at 822 Lafayette Boulevard in downtown Fredericksburg, the property is zoned CT and supports office, light retail, and other low-intensity business uses. It also qualifies for the SBA HUBZone program, providing an additional consideration for eligible occupants or purchasers.
Key Highlights
- 2,000‑square‑foot office property with three levels
- CT zoning supports office, light retail, and low‑intensity business uses
- Renovations include roof, windows, flooring, dual HVAC, kitchen, and hot‑water tank
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,060
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,200
$741.2K
Cap Rate 7%
$529,429
$529.4K
Cap Rate 9%
$411,778
$411.8K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$54.5K $27.24/SF
− Vacancy
−$5.1K −$2.53/SF
EGI
$49.4K $24.71/SF
− OpEx
−$12.4K −$6.18/SF
NOI
$37.1K $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%
$741,200
Cap Rate 7%
$529,429
Cap Rate 9%
$411,778
Alternative Uses
Best Use
Office B
$529.4K
$463.3K – $617.7K
NOI $37,060 @ 7.0% cap · market cap 1,090.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.9K
$548.6K – $731.4K
NOI $43,884 @ 7.0% cap · market cap 1,290.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,621
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?
Office building - CT-zoned property supports office, light retail, and other low-intensity business uses.
Where is this office building located?
The property is located at 822 LAFAYETTE BOULEVARD Fredericksburg, VA.
What are key features of this property?
This property features: 2,000‑square‑foot office property with three levels; CT zoning supports office, light retail, and low‑intensity business uses; Renovations include roof, windows, flooring, dual HVAC, kitchen, and hot‑water tank
