$1,337,500
$1,575,600
15.1%For more information regarding the value of a property, please contact us for a free consultation.
706 CAROLINE ST Fredericksburg, VA 22401
5,319 SqFt
Key Details
Sold Price $1,337,500
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 5,319 sqft
Price per Sqft $251
Subdivision Downtown Fredericksburg
MLS Listing ID VAFB2003318
Sold Date 05/31/24
Originating Board BRIGHT
Year Built 1824
Annual Tax Amount $7,463
Tax Year 2022
Lot Size 0.265 Acres
Acres 0.27
Property Description
Fredericksburg’s Economic Development Authority (EDA) owns this historic property in the heart of downtown Fredericksburg. It’s within a block of Riverfront Park, the Sophia Street Parking Garage, the Courtyard by Marriott hotel and dozens of restaurants, art studios, and retail shops. This is truly a one-of-kind opportunity.
This sale includes a 5,319 SF building and a 14 space parking lot. Currently leased by the City of Fredericksburg for The Visitor Center and the Economic Development and Tourism Office for up to 24 months as they build out their new location, this gives the new owner time to plan and get approved any new construction while it is fully leased.
Built in 1824 and used originally as a confectionary shop and residence, there were extensive renovations done in 1975 and designated as the "Bicentennial Center"! The front of the building consists of three levels with the visitors center on the main floor and two floors of office space above. There is a large meeting room on the main floor and a large storage area. In the back of the building there is a small 2nd floor office space with a 1/2 bath. There are 2 public bathrooms accessible from the exterior only that must remain public during the lease period only. The 14 space parking lot creates lots of opportunity for creative use of space.
Location
State VA
County Fredericksburg City
Zoning CD
Interior
Hot Water Electric
Heating Heat Pump(s), Zoned
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 14.0
Water Access N
Accessibility Other
Total Parking Spaces 14
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Hugh Mercer
Middle Schools Walker Grant
High Schools James Monroe
School District Fredericksburg City Public Schools
Others
Tax ID 7789-14-8383
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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