Caroline Street Fredericksburg, Virginia 3 Commercial Units 5 Apartments 11 Off-Street Parking Spaces

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1 Caroline Street Fredericksburg, Virginia 3 Commercial Units 5 Apartments 11 Off-Street Parking Spaces Price: $1,300,000 MRIS #FB Pictures Available by Dropbox Appraisal Provided After Pre-Qualification Call: Chris Kaila Owner/Agent kaila@bestappraisal.com

2 PROPERTY DESCRIPTION 3 story commercial /residential building of 6,938 SF on acre Location: Current Use of the Property: Site Size: Shape: SITE The subject is located within the 'historic district' of the City of Fredericksburg. It has frontage on the northeast side of Caroline Street between Charlotte and Wolfe Streets. Surroundings include the Executive Plaza office building, Courtyard Marriott as well as many mixed use retail commercial buildings. Retail/residential Total: acre; 6,922 SF Usable: acre; 6,922 SF Rectangle Frontage/Depth: 60' +/- The site has an average depth of 114' +/- and is not a corner lot. Visibility: Topography: Soil Conditions: Utilities: Site Improvements: Good Nearly level The soil conditions observed at the subject appear to be typical of the region and adequate to support development. Electricity: Public Sewer: City sewer Water: City water Natural Gas: Natural gas Underground Utilities: The site is served by underground utilities. Adequacy: The subject's utilities are typical and adequate for the market area. Street lighting Brick sidewalks Concrete curb and gutter Minimal landscaping

3 Flood Zone: The subject is located in an area mapped by the Federal Emergency Management Agency (FEMA) as being located in FEMA flood zone AE, which is classified as a flood hazard area. Zone AE are areas that have a 1% probability of flooding every year (also known as the '100-year floodplain'), and where predicted flood water elevations above mean sea level have been established. Properties in Zone AE are considered to be at high risk of flooding under the National Flood Insurance Program FEMA Map Number: C FEMA Map Date: September 19, 2007

4 Overview: IMPROVEMENTS DESCRIPTION 3 story commercial/residential building of 6,938 SF on acre Building Identification: Building Description: Construction: Construction Quality: Year Built: Renovations: Effective Age: Total Economic Life: Remaining Useful Life: Condition: Appeal/Appearance: GENERAL Caroline Street Retail/Apartment Building Masonry Average 1904, per City records Periodic interior renovations through the years 40 years 60 years 20 years Good Good Areas and Numbers: Number of Stories: 2 Gross Building Area: 6,938 SF, per City records Number of Units: 8 Foundation: Basement Use: Structural Frame: Exterior: Windows: Roof/Cover: FOUNDATION, FRAME & EXTERIOR Poured concrete slab Unfinished, utilities, storage, and laundry area Masonry Frame Painted brick Mix of double-hung, casement, and roll-out windows Flat over 1 story portions of the building / Asphalt shingle and metal

5 INTERIOR Floor Cover: Walls: Ceilings: Ceiling Height: Lighting: Restrooms: Mix of hardwood, marble entrance, carpet, vinyl tile, and concrete floors Painted plaster and gypsum board A mix of painted plaster/gypsum board, tin tiles, suspended acoustic tile 12' Incandescent and fluorescent. Fixtures include tract lighting, pendant lamps, and chandeliers Each apartment has 1 full bathroom with sink, toilet, and tub/shower. The retail space has 2 restrooms on the lower level and 1 restroom on the upper level. Heating: HVAC MECHANICAL SYSTEMS Cooling: Electrical: Central air conditioning 6 electrical panels Parking Type and Number of Spaces: PARKING Type: Paved open surface parking Spaces: 5 spaces on-site plus use of 6 parking spaces in the City of Fredericksburg parking garage Condition: Good

6 SUBJECT PHOTOGRAPHS Subject front, from Caroline Street

7 Building entrances Subject as seen from across Caroline Street

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