723 Caroline St, Under New Ownership

DOWNTOWN FREDERICKSBURG, Va. (May 16, 2024) – A historic Fredericksburg structure, 723 Caroline St. is a building that locals have seen near the corner of Caroline & Hanover St. for many years. Jarrell Properties adds this mixed-used building to its evolving downtown portfolio. 723 was purchased from the Smith Family of Fredericksburg, who were fantastic stewards of the property for over 30 years.

On Thursday, April 18, 2024, Jarrell Properties Inc. (JPI) closed their purchase of the building at 723 Caroline St. JPI purchased the building with intentions to preserve its historic character, while completing renovations to the interior living spaces.

JPI being a family-owned and operated business, understands the pride that is accompanied with owning a downtown historic property in a city like Fredericksburg, just as the Smith family did. Like many historic buildings in our area, there are characteristics that fascinate all who encounter the property. James E. Jarrell IV, Director of Land Acquisition and Sales commented that he finds the summer kitchen in the rear of the property to be a “standout feature of this property and downtown as a whole.”

According to the Historic Fredericksburg Foundation Inc (HFFI) marker report, the lot itself was first on a City plat as early as 1728. The brick three-story structure & smaller brick structure in the rear seen today at 723 Caroline St were built around 1831.

For more information regarding the purchase of 723 Caroline St, please contact Jeh Hicks, Director of Community Relations for Jarrell Properties Inc., at 540.899.3826 & jeh@jarrellinc.com.

About JPI

Jarrell Properties Inc., established in 1987, is a privately owned construction and development corporation actively involved in the real estate market in central and northern Virginia. Headquartered in downtown Fredericksburg, JPI owns and manages a portfolio of unique, historic buildings in downtown Fredericksburg.