Listed by Johnson Realty Advisors
$1,475,000
1122 Caroline St. Multi Unit Investment Opportunity
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Traditional Office
Square Footage 4,062
Net Rentable (SqFt) 4,062
Units 6
Cap Rate 6.21%
Occupancy 50%
Tenancy Multi
Pro-Forma NOI $91,650
Price per SqFt $363
Year Built 1912
Year Renovated 2025
Buildings 1
Stories 4
Acreage 0.270
Zoning CD
Parking Spaces 11 spaces
Parking Per SqFt 2.71
Investment Type Value Add
Ground Lease No
6 Unit Investment In Downtown Fredericksburg
Marketing description
Johnson Realty Advisors presents this 6-unit investment opportunity located at 1122 Caroline Street in the Historic District of Downtown Fredericksburg, one of the region’s most active and walkable corridors. Surrounded by a strong mix of restaurants, retail, and office users, the property benefits from consistent demand and proximity to the city’s core amenities. The asset offers a diversified income stream with six units in place, while also presenting potential for rental upside and long-term appreciation. With its prime downtown location and strong underlying fundamentals, this property is well-positioned for both stable cash flow and future value growth.
Investment highlights
- 4,062 SF buidling spanning four floors
- 6 unit asset providing diversified income stream
- Dedicated off-street parking lot (rare for downtown)
- Prime Historic District location with strong foot traffic
- Opportunity to increase rents and add value over time
Listing Contacts
Listed by Johnson Realty Advisors
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