For Sale
$4,553,000

3102 Plank RdFredericksburg, VA 22407

Fredericksburg, VA: High-Cap Retail Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5,900 square foot, single-tenant, absolute NNN leased storefront occupied by Jared Jewelry. Located in Fredericksburg, Virginia, at 3102 Plank Rd, 22407, this property boasts a strong 9.50% cap rate and a substantial net operating income (NOI) of $432,575. Built in 2009, the property sits on a 0.97-acre lot and benefits from a corporate guarantee and a lease with 5.2 years remaining, extending to January 31, 2030, with 4 or 5-year renewal options at a 10% rent increase. The property enjoys a prime location as an outparcel to the Spotsylvania Towne Center, a thriving shopping center with high traffic volume due to its proximity to Interstate 95 and Germanna Highway (over 200,000 vehicles daily). The surrounding area features numerous destination retailers, including Costco, Belk, Dick's Sporting Goods, and more, ensuring consistent foot traffic. The immediate area demonstrates strong demographics, with a population of nearly 6,000 within a 1-mile radius, a 29% population growth since 2010, and a median household income exceeding $112,000. This fee-simple ownership offers a secure, passive income stream, ideal for a 1031 exchange. The property's exceptional location, strong tenant, and favorable lease terms make it a compelling investment prospect. The absolute NNN lease structure eliminates landlord responsibilities, providing a truly passive investment.

Highlights

  • $4,553,000 asking price for a 5,900 SF retail storefront in Fredericksburg, VA.
  • Absolute NNN net lease with corporate guarantee from Jared Jewelry.
  • 9.50% cap rate with $432,575 NOI.
  • 5.2 years remaining on the lease, expiring 01/31/2030, with 4 or 5-year renewal options at 10% rent bumps.
  • Located in Spotsylvania Towne Center, a high-traffic area with over 200,000 vehicles daily.
  • Property sits on a 0.97-acre lot and was built in 2009.

Property Details for 3102 Plank Rd

Property type
Retail properties, Retail space
Square Feet
5,900 SF
Year Built
2009
Lot Size (sq. ft)
42,253 SF

Location Insight

City
Fredericksburg
County
Spotsylvania
State
Virginia
Latitude
38.2904695
Longitude
-77.515777
3102 Plank Rd, Fredericksburg, Virginia

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3102 Plank Rd
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