560 Celebrate Virginia PkwyFredericksburg, VA 22406

Property Details for 560 Celebrate Virginia Pkwy

Year built

2007

Construction

TYPE NOT SPECIFIED

Lot size

2.35 AC

Property size (Sq ft)

17,050 SF

Zone code

B2- URBAN COMM

Property type

Retail space

APN

44Y-5D

APU

44Y5D

Description

The Banks Ford Shopping Center, located at 560-570 Celebrate Virginia Parkway in Fredericksburg, Virginia (zip code 22406), presents a compelling investment opportunity in a thriving retail market. This 124,095 square foot shopping center, built in 2006, sits on a 7.26-acre lot and features eight suites, offering multiple tenancy options. Currently, there are 26,113 square feet of vacant space available, divisible into units ranging from a minimum of 1,500 square feet to a maximum contiguous space of 12,000 square feet. The center benefits from its strategic location along the Route 17 corridor, providing excellent visibility and accessibility. This prime location serves a substantial population base, including employees of major employers such as Geico (4,000+ employees), the FBI (1,000+ employees), and the Mary Washington Healthcare System (5,000+ employees). Stafford County has experienced significant population growth in the last decade, and projections indicate continued upward growth for the next five years, making this a particularly attractive investment prospect for businesses seeking to capitalize on this expanding market. The property is situated in Stafford County, Virginia.

• CAP approach

  CAP return

  Valuation

  6%

  $5,394,560

  6.5%

  $4,979,594

  7%

  $4,623,909

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,964,811

  Geo Method

  $5,964,811

• Alternative Use

  Use

  Valuation

  Residential

  $4,200,474

  Hospitality

  $3,847,612

  Educational

  $3,201,168

  Medical

  $3,311,261

  Retail

  $4,979,594

Location Insight

City

Fredericksburg

County

Stafford

State

Virginia

Latitude

38.359

Longitude

-77.5222

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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