Brick Office-Retail Building with Covered
For Sale
Contact for pricing
4540 Plank Rd, Fredericksburg, VA 22407
Red brick office building with covered entrance and 53,000 VPD on Plank Road, anchored by Sakura Japanese Steakhouse.
Property Size15,000 SF
Price / SF$198.33
Days on Market1360
Property Features for 4540 Plank Rd
General Information
Standard status
Active
Size
15,000 SF
Property subtype
OFFICE
Site & Location
Traffic Count
53,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
covered entrance with awning
foyer with sunroof
phone and internet outlets
Building Details
Buildings
1
Building Size
15,000 SF
Construction
brick
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | Thalhimer - Fredericksburg
(540) 373-0600
Listed By:
Virgil Nelson · License #0225029080
(540) 846-1390
Source:
Moodyscre
Added: Feb 8, 2023
Changed: Oct 25
Last Checked: Oct 30 at 11:58AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 15,000 SF brick office/retail building features a covered entrance with an awning and a main foyer with a sunroof. The interior includes nine separate office rooms, two bathrooms, and a kitchen, with phone and internet outlets in each room.
The property faces Plank Road (Route 3) and is positioned close to Interstate 95, with the remarks noting less than 3 miles to I-95 and Exit 130. The location is described with 53,000 VPD on Plank Road.
Current tenants include Sakura Japanese Steakhouse, Tiny Toes Creative Learning Center, and The Church of Pentecost USA Inc., supporting a mixed-use configuration for an office-focused building.
The property faces Plank Road (Route 3) and is positioned close to Interstate 95, with the remarks noting less than 3 miles to I-95 and Exit 130. The location is described with 53,000 VPD on Plank Road.
Current tenants include Sakura Japanese Steakhouse, Tiny Toes Creative Learning Center, and The Church of Pentecost USA Inc., supporting a mixed-use configuration for an office-focused building.
Key Highlights
- 15,000 SF brick office/retail building with covered entrance awning
- Nine separate office rooms plus two bathrooms and a kitchen
- Phone and internet outlets in each office room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,913
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,538,260
$4.5M
Cap Rate 7%
$3,241,614
$3.2M
Cap Rate 9%
$2,521,256
$2.5M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$313.2K $20.88/SF
− Vacancy
−$10.6K −$0.71/SF
EGI
$302.6K $20.17/SF
− OpEx
−$75.6K −$5.04/SF
NOI
$226.9K $15.13/SF
Area
Spotsylvania County, VA
Vacancy
3.40%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,538,260
Cap Rate 7%
$3,241,614
Cap Rate 9%
$2,521,256
Alternative Uses
Best Use
Office B
$3.97M
$3.47M – $4.63M
NOI $277,950 @ 7.0% cap · market cap 9.34%
Second Best
Specialty Retail
$3.24M
$2.84M – $3.78M
NOI $226,913 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$4.70M
$4.11M – $5.49M
NOI $329,132 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
53,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 22407, VA
62,668
Population
23,305
Households
2.7
Avg Household Size
38
Median Age
33%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
1,027
Density / Sq Mi
$105,218
Median Household Income
$47,282
Median Earnings
$1,758
Median Rent
$376,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Fredericksburg, VA
Frequently Asked Questions
What type of property is this?
Office building - Red brick office building with covered entrance and 53,000 VPD on Plank Road, anchored by Sakura Japanese Steakhouse.
Where is this office building located?
The property is located at 4540 Plank Rd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: 15,000 SF brick office/retail building with covered entrance awning; Nine separate office rooms plus two bathrooms and a kitchen; Phone and internet outlets in each office room
