818 Sophia St Fredericksburg, VA 22401-5824

Property Details for 818 Sophia St

Year built

1812

Lot size

0.09 lot acres

Property size

1,839 SF

Zone code

CD

Property type

Commercial real estate

APN

7789-15-9024

APU

7789159024

Description

This exceptional 1,839 square foot office building, located at 818 Sophia Street in the heart of Downtown Fredericksburg, Virginia, presents a compelling investment opportunity. The property boasts a strong 6.79% cap rate and a favorable Net Lease (NNN) structure with a single tenant. The three-story building features six private offices, a convenient kitchenette, and a private courtyard, offering both functionality and charm. The building sits on a 0.09-acre lot and benefits from excellent street frontage and visibility on Sophia Street, ensuring high traffic and brand recognition. The current lease is a seven-year term, commencing July 1, 2024, and expiring June 30, 2031, with a remaining term of approximately 6.6 years. Rent increases are built into the lease with 3% annual bumps. The property is zoned CD and offers a Net Operating Income (NOI) of $49,200. The asking price is $725,000, translating to a price per square foot of $394.24. This historic building combines the best of old-world charm with modern functionality, making it an ideal investment for discerning buyers seeking a stable, high-return property in a vibrant downtown location. The property's walkability and curb appeal add to its overall desirability. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving Virginia market.