49-51 E Lee Street

49-51 E Lee St., Warrenton, VA 20186

Property Information

  • For Sale $1,200,000
  • Property Type Retail - Street Retail
  • Property Size 6,200 SF
  • Units 2
  • Lot Size 1 Acre
  • Parking Spaces Avail. 10
  • Building Class B
  • Year Built 1919
  • Year Renovated 2005
  • Date Updated Sep 18, 2026

Description

Old Town Warrenton on the corner of E Lee and 2nd StreetRare opportunity to acquire a fully-leased, income-producing investment property with two established tenants on longer-term leases. This 6,200± SF building is structured as a condominium, sharing only a single party wall — giving an owner the privacy and standalone feel of a freestanding building with a lighter exterior maintenance burden. Both units are separately metered. Ground Floor — 4,600± SF Salon & Spa The main level pairs historic character with a full-service buildout: original wide-plank hardwood floors, exposed brick, and generous natural light. The space includes multiple wash/styling stations, four private massage/spa treatment rooms, a dedicated nail studio, a private main office, break room, in-unit washer and dryer, three restrooms, and two rear entrances for staff and service access. Second Floor — Professional Office Suite A private second-floor office with its own first-floor entrance and street-facing signage. Inside: three private offices, a large conference room, kitchenette, restroom, and two separate points of entry — well suited to a professional firm that values a discreet, dedicated setting.

Highlights

  • 7.7% cap rate in place, escalating into the 8%+ range within two years on the strength of the scheduled increases
  • Both units separately metered clean expense separation for a two-tenant hold
  • Condominium structure (single shared wall) standalone character with reduced common-area obligations
  • High-visibility E. Lee Street location with strong street presence and signage
  • Turnkey, fully-leased asset passive income from day one
  • Two separate tenants, both on longer-term leases with fixed 3% annual rent escalations contractual, built-in NOI growth

Contacts

Location

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