Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    2128 Mills Dr Fredericksburg, VA 22408

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial land for rent, convenient location, multiple uses.

    Lot size:
    18.00 Acres

    Property Features for 2128 Mills Dr

    General Information

    Lot size
    18.00 Acres

    We can help!

    Listing Contact
    Brian Cunningham
    Brian Cunningham
    Source: Moodyscre

    Listing Agent: Brian Cunningham

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

    Learn more

    Overview

    Commercial Land Near VRE Station

    This commercial land is available for rent and is located less than 2 miles from the Spotsylvania VRE station. The property is zoned C-3, which allows for drive-throughs and gas stations as permitted uses. It is a suitable location for a gas and convenience store or a fast-food restaurant.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Wholesale Shop Gym & Fitness Department Store Bakery Tech Support Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.4038613
    Latitude
    38.2318787

    Nearby Similar for Lease

    • $2,000 /Mo
      2,178 SF

      Historic Retail Building with Apartment

      Charming retail space with apartment and development opportunity in Fredericksburg.
      606 Caroline St, Fredericksburg, VA 22401
      View Details
    • $1.00 SF/Yr

      Retail End Cap Unit Available

      Retail space available in well-maintained multi-tenant strip center.
      1036 Warrenton Rd, Fredericksburg, VA 22406
      View Details
    • $2,800 /Mo
      2,178 SF

      Downtown Fredericksburg Retail Space Available

      Prime retail space in historic downtown Fredericksburg available for lease.
      900 Caroline St, Fredericksburg, VA 22401
      View Details
    • $700 /Mo
      89,298 SF

      Affordable Office Spaces For Lease

      Flexible office spaces available in a prime, accessible location.
      15 Riverside Pkwy, Fredericksburg, VA 22406
      View Details
    • $3,330 /Mo

      Fredericksburg Retail Space For Lease

      Open floor plan retail space with modern amenities in Fredericksburg.
      415 William St, Fredericksburg, VA 22401
      View Details
    • New
      $21 SF/Yr
      21,780 SF

      Medical Office Space Near Hospital

      3,603 SF medical office space for lease near hospital.
      4541 Spotsylvania Pkwy, Fredericksburg, VA 22408
      View Details
    • $8,500 /Mo
      14,810 SF

      Established Car Dealership in Fredericksburg

      Freestanding used car dealership in prime Fredericksburg location for lease.
      103 Pegram Ln, Fredericksburg, VA 22408
      View Details
    • $25 SF/Yr
      435,600 SF

      Retail Spaces Available, Fredericksburg

      Retail spaces for lease in shopping center with anchor tenants.
      503 Emancipation Hwy, Fredericksburg, VA 22401
      View Details
    • $21 SF/Yr
      7,933 SF

      Fredericksburg Historic District Office Space

      Downtown office space available in a revitalizing historic building.
      315 Lafayette Blvd, Fredericksburg, VA 22401
      View Details
    • $2,600 /Mo
      2,270 SF

      Updated Home in Historic Downtown

      Four-bedroom, two-and-a-half-bath home in the heart of Fredericksburg.
      1011 Charles St, Fredericksburg, VA 22401
      View Details
    • $3,000 /Mo

      Fredericksburg Warehouse/Office Space Available

      Versatile warehouse/office space in a connected industrial zone.
      31 Friendly Ct, Fredericksburg, VA 22405
      View Details
    • $3,200 /Mo

      Fredericksburg Warehouse/Office Space Available

      Versatile warehouse/office space in a connected industrial zone.
      31 Friendly Ct, Fredericksburg, VA 22405
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for rent, convenient location, multiple uses.
    Where is this commercial land located?
    The property is located at 2128 Mills Dr Fredericksburg, VA.
    What are key features of this property?
    This property features: - Zoned C-3: Drive-thrus and gas stations are permitted uses.; - Less than 2 miles to Spotsylvania VRE station.; - Great location for gas and convenience businesses.
    (540) 429-3414
    Request Owner's contact information
    2128 Mills Dr Fredericksburg, VA 22408
    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.
    2128 Mills Dr
    Fredericksburg, VA 22408
    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
    2128 Mills Dr Fredericksburg, VA 22408
    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

    We can help!
    Listing Contact
    Brian Cunningham
    Brian Cunningham
    Real Estate License ID: 0225185942
    (540) 429-3414
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.