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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Pratt St Fredericksburg, VA 22405-2532

    • Retail space
    • 1,032 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0034633
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sparks Adaptive Development Academy / Special Education School

    Property Details for 515 Pratt St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.32 lot acres
    Property size
    1,032 SF
    Zone code
    B2- URBAN COMM
    Property type
    Retail space
    APN
    54F-3E-20
    APU
    54F3E20

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $288,000
      Market price range: $141k - $310k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $230,000
      Current use
      COMMERCIAL (GENERAL)
      $245,000
      Change: +7% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Stafford
    State
    Virginia
    Longitude
    -77.449
    Latitude
    38.3106
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,735
    $83,600
    $126,700
    $210,300
    -
    $83,600
    $126,700
    $210,300

    Comparable in this City

    • Value Estimation
      $750,000
      161,882 SF

      125 Washington Sq Plz

      RETAIL STORES (PERSONAL SERVICES) • 161,882 SF
      125 Washington Sq Plz, Fredericksburg, VA 22405-3235
      View Details
    • Value Estimation
      $300,000
      7,456 SF

      54 White Oak Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,456 SF
      54 White Oak Rd, Fredericksburg, VA 22405-2551
      View Details
    • Value Estimation
      $565,000
      19,714 SF

      205 Kings Hwy

      RETAIL STORES (PERSONAL SERVICES) • 19,714 SF
      205 Kings Hwy, Fredericksburg, VA 22405-2650
      View Details
    • Value Estimation
      $3,415,000
      11,700 SF

      316 White Oak Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,700 SF
      316 White Oak Rd, Fredericksburg, VA 22405-8710
      View Details
    • Value Estimation
      $1,415,000
      2,255 SF

      1001 Forbes St

      RETAIL STORES (PERSONAL SERVICES) • 2,255 SF
      1001 Forbes St, Fredericksburg, VA 22405-1495
      View Details
    • Value Estimation
      $315,000
      1,940 SF

      285 Chatham Hts Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,940 SF
      285 Chatham Hts Rd, Fredericksburg, VA 22405-2572
      View Details

    Similar Nearby for Sale

    • $800,000
      5,090 SF

      Retail/Office Space with Garage

      Retail or office space with detached garage in Fredericksburg.
      471 Chatham Heights Rd, Fredericksburg, VA 22405
      View Details
    • $4,400,000
      13,291 SF

      Fredericksburg CVS Pharmacy Investment Opportunity

      NNN leased CVS in Fredericksburg, VA with drive-thru.
      1511 Jefferson Davis Hwy, Fredericksburg, VA 22405
      View Details
    • $3,300,000
      9 SF

      9 Acres Car Lots

      Two car lots with residential units near downtown Fredericksburg.
      226 Cambridge St, Fredericksburg, VA 22405
      View Details
    • $1,375,000
      4,900 SF

      Fredericksburg Industrial Investment

      Net-leased warehouse, strong tenant.
      20 Mccarty Rd, Fredericksburg, VA 22405
      View Details
    • $2,900,000
      182.17 Acres

      Bridle Lake Farm: 182 Acres in VA

      Prime Agricultural Land, Stafford County
      0 Stableside Ln, Fredericksburg, VA 22405
      View Details
    • $379,900
      2,296 SF

      Spacious Townhome in Prime Location

      Well-maintained townhome with over 2,200 SF of living space.
      101 Meredith Ln, Fredericksburg, VA 22405
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo

      Fredericksburg Office and Retail Space

      Office and retail spaces available for lease in Fredericksburg.
      321 Cambridge St, Fredericksburg, VA 22405
      View Details
    • Contact for pricing
      61,774 SF

      Ferry Farm Retail Space Available

      Fredericksburg, VA: Prime Retail Opportunity
      201 Kings Hwy, Fredericksburg, VA 22405
      View Details
    • $24 SF/Yr
      5,100 SF

      Retail Space on Chatham Heights

      Retail space with superior signage and visibility in Stafford County.
      430 Chatham Heights Rd, Fredericksburg, VA 22405
      View Details
    • $24 SF/Yr
      3,000 SF

      Grocery Anchored Retail Space Available

      Retail space and pad sites available in Stafford County.
      35 Town And Country Dr, Fredericksburg, VA 22405
      View Details
    • $18 SF/Yr
      1,260 SF

      Retail Space in Shopping Center

      Neighborhood shopping center with ample parking near downtown Fredericksburg.
      201-207 Kings Hwy, Fredericksburg, VA 22405
      View Details
    • Contact for pricing
      2,982 SF

      Woodlawn Village Retail Space

      Fredericksburg Shopping Center Opportunity
      282 Deacon Rd, Fredericksburg, VA 22405
      View Details
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    515 Pratt St
    Fredericksburg, VA 22405-2532
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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