Central Park Strip
For Sale
Contact for pricing
1485 Carl D Silver Parkway, Fredericksburg, VA 22401
Fee-simple retail strip center fully occupied by three destination tenants with I-95 visibility nearby.
Property Size11,400 SF
Lot Size1.29 Acres
Price / SF$363.49
Days on Market69
Property Features for 1485 Carl D Silver Parkway
General Information
Standard status
Active
Size
11,400 SF
Class
B
Lot size
1.29 Acres
Property subtype
Retail
Zoning
PDC
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$290,068
Site & Location
Traffic Count
202,070 vehicles/day
Highway Access
Yes
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
KLNB Commercial Real Estate Services
Listed By:
Christopher Burnham · License #MD
Source:
Crexi
Added: Jun 15
Changed: Aug 14
Last Checked: Aug 21 at 8:23AM
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 KLNB Commercial Real Estate Services
Investment Insights
Based on property information with market context.
The Central Park Strip Center offers a total of 11,400 SF of retail space in a strip center format situated on 1.29 acres. The property is presented as a fee simple interest and is currently 100% occupied by three destination tenants: Big Screen Store, Southern Accents, and Fujiya House. The center’s tenancy mix supports an efficient, straightforward operating footprint with continuous occupancy.
Located within Central Park Marketplace in Fredericksburg, the property benefits from cross-shopping within the larger shopping center. It also has close proximity and pylon sign visibility, providing identifiable retail presence for motorists. The asset is near Interstate 95, which is reported at 202,070 VPD.
For buyers, this offering provides an established retail asset with in-place occupancy and a reported strong weighted average lease term of 6.3 years. The center is marketed for the first time in nearly 20 years, and its placement within the primary retail node of the Central Park Marketplace area supports its continued relevance for retail operators seeking a stabilized, tenant-driven environment.
Located within Central Park Marketplace in Fredericksburg, the property benefits from cross-shopping within the larger shopping center. It also has close proximity and pylon sign visibility, providing identifiable retail presence for motorists. The asset is near Interstate 95, which is reported at 202,070 VPD.
For buyers, this offering provides an established retail asset with in-place occupancy and a reported strong weighted average lease term of 6.3 years. The center is marketed for the first time in nearly 20 years, and its placement within the primary retail node of the Central Park Marketplace area supports its continued relevance for retail operators seeking a stabilized, tenant-driven environment.
Key Highlights
- 11,400 SF fee‑simple Central Park Strip Center on 1.29 acres
- 100% occupied by three destination tenants: Big Screen Store, Southern Accents, and Fujiya House
- Situated in Central Park Marketplace in Fredericksburg, within a major retail community center
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$162,290
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,245,800
$3.2M
Cap Rate 7%
$2,318,429
$2.3M
Cap Rate 9%
$1,803,222
$1.8M
Market Conditions
NOI Build-Up for 11,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$238.0K $20.88/SF
− Vacancy
−$6.2K −$0.54/SF
EGI
$231.8K $20.34/SF
− OpEx
−$69.6K −$6.10/SF
NOI
$162.3K $14.24/SF
Area
Spotsylvania County, VA
Vacancy
2.60%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,245,800
Cap Rate 7%
$2,318,429
Cap Rate 9%
$1,803,222
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.70M
NOI $162,290 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,140 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
202,070 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
596k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 35%
Superstores 19%
Shops & Services 17%
Dining 16%
Target
Superstores
112,400 visits/mo
0.4 miles
Kohl's
Apparel
51,194 visits/mo
0.1 miles
T.J. Maxx
Apparel
49,359 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
45,347 visits/mo
0.2 miles
Academy Sports + Outdoors
Apparel
38,487 visits/mo
0.3 miles
Demographics for 22401, VA
27,799
Population
12,270
Households
2.3
Avg Household Size
32
Median Age
47%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
2,673
Density / Sq Mi
$85,432
Median Household Income
$46,891
Median Earnings
$1,518
Median Rent
$461,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fee-simple retail strip center fully occupied by three destination tenants with I-95 visibility nearby.
Where is this strip mall located?
The property is located at 1485 Carl D Silver Parkway Fredericksburg, VA.
What is the asking price?
The asking price for this property is $4,143,828.
What are key features of this property?
This property features: 11,400 SF fee‑simple Central Park Strip Center on 1.29 acres; 100% occupied by three destination tenants: Big Screen Store, Southern Accents, and Fujiya House; Situated in Central Park Marketplace in Fredericksburg, within a major retail community center
