Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1700 Princess Anne St Fredericksburg, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Move-in ready drive-thru restaurant in downtown Fredericksburg.

    Type:RETAIL
    Property size:
    3,670 SF
    Lot size:
    0.79 Acres
    Added:
    Apr 11, 2025
    Days on Market:
    374
    Last Refresh:
    Apr 5 at 10:26 pm

    Property Features for 1700 Princess Anne St

    General Information

    Standard status
    Active
    Size
    3,670 SF
    Lot size
    0.79 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 1700 Princess Anne St Contact us

    We can help!

    Listing Contact
    Jamie Scully
    Jamie Scully

    Listing agent Jamie Scully License #0225082322

    Listing office Cushman & Wakefield | Thalhimer - Fredericksburg

    Listing date Apr 11, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | Thalhimer - Fredericksburg

    Overview

    Fredericksburg Drive-Thru Restaurant Opportunity

    This is a rare opportunity to acquire a fast-food drive-thru restaurant in downtown Fredericksburg. The property, formerly a Hardees, is move-in ready and available immediately. It is located on Route 1 Business and Princess Anne Street. The property size is 3,670 square feet. This property is suitable for drive-through restaurants, restaurants, retail properties, and turn-key restaurants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.4653
    Latitude
    38.3101

    Nearby Similar for Sale

    • $789,924

      Fredericksburg Office Condominium For Sale

      Office condominium ideal for owner-user or investor in Fredericksburg.
      927 MAPLE GROVE Drive, FREDERICKSBURG, VA 22407
      View Details
    • $1,100,000

      Historic Commercial Building on 1.4 Acres

      Unique commercial property with historical significance and high visibility.
      77 CAMBRIDGE Street, FREDERICKSBURG, VA 22405
      View Details
    • $399,000

      Commercial Property on Princess Anne

      Freestanding commercial property in shell condition on a bustling corridor.
      1504 PRINCESS ANNE Street, FREDERICKSBURG, VA 22401
      View Details
    • $2,100,000

      55+ Acre Oasis with Shop

      Spacious property with a house, shop, and natural beauty.
      41 WOOD LANDING Road, FREDERICKSBURG, VA 22405
      View Details
    • $699,950
      2,904 SF

      Fredericksburg Mixed-Use Investment Opportunity

      Income-producing commercial and residential property in historic downtown Fredericksburg.
      1004 PRINCE EDWARD Street, FREDERICKSBURG, VA 22401
      View Details
    • $1,500,000

      Fredericksburg Office Building Investment

      8,652 SF office building in a prime commercial corridor.
      3920 PLANK Road, FREDERICKSBURG, VA 22407
      View Details
    • $550,000
      2,580 SF

      Luxury Home in Active Community

      Stunning 3-bedroom home in a vibrant 55+ community.
      7102 ECKERT Court, FREDERICKSBURG, VA 22407
      View Details
    • $575,000
      1,400 SF

      Harrison Crossing South Condo Available

      1400 sq ft condo in high-traffic area for sale.
      7001 HARRISON ROAD 3, FREDERICKSBURG, VA 22407
      View Details
    • $1,555,000
      5,604 SF

      Turnkey Auto Repair Facility

      Operating auto repair facility with equipment and customer base included.
      1314 PRINCESS ANNE STREET, FREDERICKSBURG, VA 22401
      View Details
    • $1,275,000
      1,850 SF

      Industrial Property with Office and Storage

      Industrial property featuring office space, mezzanine, and additional storage.
      20 MCCARTY ROAD, FREDERICKSBURG, VA 22405
      View Details
    • $4,500,000
      5,000 SF

      SHEETZ Ground Lease in Fredericksburg

      New construction NNN ground lease with attractive rent escalations.
      9945 Tidewater Trail, Fredericksburg, VA 22408
      View Details
    • $399,000
      468 SF

      Freestanding Commercial Property in Fredericksburg

      468 SF commercial property in shell condition on Princess Anne.
      1504 Princess Anne St, FREDERICKSBURG, VA 22401
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Move-in ready drive-thru restaurant in downtown Fredericksburg.
    Where is this drive through restaurant located?
    The property is located at 1700 Princess Anne St Fredericksburg, VA.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: Rare fast‑food drive‑thru in downtown Fredericksburg; Move‑in ready condition; Located on Rt. 1 Business and Princess Anne St.
    (540) 327-2134 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jamie Scully
    Jamie Scully
    Real Estate License ID: 0225082322
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!