809 CAROLINE ST Fredericksburg, VA 22401

Imagine owning this iconic building in the heart of the historic district! This building is one of the grandest, most beautiful buildings on Caroline Street. There's street-level retail that was home to PYE &Co and is now home to Pieces, a shop for unique and handmade gift items. The property also offers four apartments and a full, unfinished basement. The 3rd-floor apartment spans the entire building with commanding views of the Rappahannock River and bustling Caroline Street.
Located in CD Zoning, there's a potential to add on to the property in the rear. The property line extends about 40 feet beyond the back of the building. There's currently off-street parking in the back, but it could become a garage, addition, etc.
Three of the four apartments are occupied. The current gross annual income is $97,200. The NOI is $82,434, with significant upside potential in the revenue. Download the OM in the documents section for more information.