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    481 Chatham Heights Rd Fredericksburg, VA 22405

    Sponsored
    For Sale
    $300,000

    0.68 Acres, R1 Zoning, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 0.68-acre residential lot in Stafford County, Virginia, presents a remarkable opportunity for development. Located at 481 Chatham Heights Road, Fredericksburg, VA 22405, this property boasts a highly desirable R1 zoning designation, allowing for a variety of residential construction possibilities. The land is strategically situated on Butler Road, directly facing a signalized intersection with exceptional visibility. High traffic volume is guaranteed, with over 17,000 vehicles passing daily. Nearby established businesses include CVS and Wawa, further enhancing the location's appeal and convenience. The property offers convenient road access directly from Butler Road, and all essential utilities are readily available, simplifying the development process. This prime location, combined with its size and zoning, makes this an ideal site for building a new home or developing a small residential project. The asking price for this exceptional property is $300,000. Don't miss this chance to acquire a highly sought-after residential lot in a thriving area of Fredericksburg.

    Property Features for 481 Chatham Heights Rd

    General Information

    Property type
    Land
    Lot Size
    29,621 SF

    HighLights

    • High‑visibility corner lot at signalized intersection with CVS and Wawa.
    • Direct road access.
    • All utilities readily available.
    • High‑traffic location on Butler Road, 17,000 vehicles per day.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Stafford
    State
    Virginia
    Longitude
    -77.4518674
    Latitude
    38.3153375

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    FAQs

    What type of property is this?
    Land - 0.68 Acres, R1 Zoning, High Traffic
    Where is this land located?
    The property is located at 481 Chatham Heights Rd Fredericksburg, VA.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: High-visibility corner lot at signalized intersection with CVS and Wawa.; Direct road access.; All utilities readily available.
    (540) 322-4150
    Request Owner's contact information
    481 Chatham Heights Rd Fredericksburg, VA 22405
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    Fredericksburg, VA 22405
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    481 Chatham Heights Rd Fredericksburg, VA 22405
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