Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Princess Anne St Fredericksburg, VA 22401

    • Commercial real estate
    • 2,126 SF
    • 0.09 lot acres
    For Sale
    View listing
    $850,000
    Last Sale
    May 11, 2025
    $805,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0275876
    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

    • mediation solutions in fredericksburg virginia / Consultant
    • Kane Perry Krueger, PLC / Law Firm
    • Kane Kristie L Plc / Law Firm

    Property Details for 702 Princess Anne St

    Year built
    1889
    Lot size
    0.09 lot acres
    Property size
    2,126 SF
    Zone code
    CD
    Property type
    Commercial real estate
    APN
    7789-14-5187
    APU
    7789145187

    Description

    This exceptional 2,126 square foot office building, situated on a 0.09-acre lot at 702 Princess Anne Street in Fredericksburg, Virginia, presents a unique investment opportunity. Its enviable location directly across from the courthouse ensures high visibility and accessibility. The property's classic architectural details are complemented by modern functionality, creating a sophisticated and inviting workspace. The layout includes a welcoming entryway and reception area, five individual offices providing ample space for various business needs, and a dedicated conference room ideal for meetings and presentations. An upper-level loft adds versatility and potential for expansion or specialized use. Adding to the convenience, six off-street parking spaces are provided for employees and clients. Further enhancing the space is a wet bar conveniently located near the rear exit, and one and a half bathrooms. A full-length front porch enhances the building's historic charm and provides a pleasant outdoor area. Priced at $850,000, this property offers a compelling blend of historic character and modern amenities, making it an ideal choice for businesses seeking a prominent presence in the heart of downtown Fredericksburg. The combination of location, features, and price makes this a truly exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $570,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $743,000
      Market price range: $305k - $793k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Fredericksburg City
    State
    Virginia
    Longitude
    -77.4592
    Latitude
    38.3005
    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
    2024
    $4,406
    $217,800
    $277,200
    $495,000
    -
    $217,800
    $277,200
    $495,000

    Comparable in this City

    • Value Estimation by Request

      Outparcel Cor

      Land
      Outparcel Cor, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      0.45 Acres

      28 Gunnery Rd

      COMMERCIAL (GENERAL) • 0.45 Acres
      28 Gunnery Rd, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      0.06 Acres

      420 Bridgewater St

      COMMERCIAL (GENERAL) • 0.06 Acres
      420 Bridgewater St, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      0.16 Acres

      1171 Armory Dr

      COMMERCIAL (GENERAL) • 0.16 Acres
      1171 Armory Dr, Fredericksburg, VA 22401-5421
      View Details
    • Value Estimation by Request
      0.11 Acres

      1101 Lafayette Blvd, Unit B

      COMMERCIAL (GENERAL) • 0.11 Acres
      1101 Lafayette Blvd, Fredericksburg, VA 22401-5514
      View Details
    • Value Estimation
      $3,550,000
      13,291 SF

      1511 Emancipation Hwy

      COMMERCIAL (GENERAL) • 13,291 SF
      1511 Emancipation Hwy, Fredericksburg, VA 22401-4631
      View Details

    Similar Nearby for Sale

    • $450,000
      0.17 Acres

      Fredericksburg Retail Opportunity

      Prime Downtown Location, High Visibility
      1504 Princess Anne St, Fredericksburg, VA 22401
      View Details
    • $850,000
      1.09 Acres

      1.09 Acre Pad Site, Fredericksburg

      Prime I-95 Commercial Land, High Visibility
      7769-85-5954 Cowan Blvd, Fredericksburg, VA 22401
      View Details
    • Contact for pricing
      34.20 Acres

      Fredericksburg Commercial Land

      34 Acres, Prime Development Opportunity
      3430 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • $475,000
      6,807 SF

      Fredericksburg Retail Investment Opportunity

      Prime Retail/Office Space, High Traffic Area
      1154 Carl D Silver Pkwy, Fredericksburg, VA 22401
      View Details
    • $1,250,000
      5 SF

      Fredericksburg Retail Property for Sale

      Retail property available in the City of Fredericksburg.
      1806 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • $619,900

      Franklin Street Specialty Property

      Specialty property available for sale in Fredericksburg, Virginia.
      1612 Franklin St, Fredericksburg, VA 22401
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      5,722 SF

      Silver Professional Park Suites

      Fredericksburg medical & office space
      1219-1239 Central Park Blvd, Fredericksburg, VA 22401
      View Details
    • $20 SF/Yr
      3,208 SF

      Prime Fredericksburg Medical Office

      Single-tenant medical office, 3,208 sq ft.
      1051 Care Way, Fredericksburg, VA 22401
      View Details
    • Contact for pricing
      7,700 SF

      Westwood Office Park: Fredericksburg, VA

      Prime Fredericksburg Office Space: 11 Suites Available
      100 Westwood Office Park, Fredericksburg, VA 22401
      View Details
    • $20 SF/Yr
      14,724 SF

      Prime Fredericksburg Office Space

      1,170 SF Available in Westwood
      1913 Plank Rd, Fredericksburg, VA 22401
      View Details
    • $10 SF/Yr
      33,880 SF

      Fredericksburg Flex Industrial Space

      Two Suites, 1,500-19,000 SF Available
      400 Howison Ave, Fredericksburg, VA 22401
      View Details
    • $25 SF/Yr
      435,600 SF

      Retail Spaces Available, Fredericksburg

      Retail spaces for lease in shopping center with anchor tenants.
      503 Emancipation Hwy, Fredericksburg, VA 22401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    702 Princess Anne St
    Fredericksburg, VA 22401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.