Shadow-Anchored Retail Center with
27 S Gateway Dr Fredericksburg, VA 22406
27 S Gateway Dr, Fredericksburg, VA, 22406
$9,230,000
For Sale
$9,230,000
PetSmart-anchored destination retail center with direct I-95 visibility and 100% occupancy.
Property Size40,617 SF
Price / SF$227.24
Days on Market110
Property Features for 27 S Gateway Dr
General Information
- Standard status
- Active
- Size
- 40,617 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2007
Listing agency
Atlanta Office
(678) 808-2746
Listed by
Eric Abbott · License #GA: 407938
(678) 808-2746
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 21 at 12:43AM Checked: Jul 21 at 3:04AM
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 Atlanta Office
Investment Insights
Based on property information with market context.
Carter’s Crossing is a PetSmart-anchored retail center that includes direct visibility to I-95 and a Target shadow anchor across the center. The property is described as delivering destination retail, supported by dual pylon signage and prominent interstate exposure.
The center is positioned at a signalized corner at South Gateway Drive and Route 17, with ingress/egress and a large parking field. The remarks cite dual pylon signage to 167,000+ VPD and emphasize dominant positioning along one of the busiest corridors between D.C. and Richmond.
The center is reported as 100% occupied with a tenant mix highlighted in the remarks, including PetSmart; Anytime Fitness; Polaris Dance Studio; and Valley Dental. PetSmart has verbally indicated in the past that it would not leave the market to help maintain competition. The remarks also state that 38% of current GLA expires within the next five years with no remaining tenant options, creating an opportunity for near-term rent reset based on current market levels, with overall in-place rents described as approximately 18–22% below current market asking.
The center is positioned at a signalized corner at South Gateway Drive and Route 17, with ingress/egress and a large parking field. The remarks cite dual pylon signage to 167,000+ VPD and emphasize dominant positioning along one of the busiest corridors between D.C. and Richmond.
The center is reported as 100% occupied with a tenant mix highlighted in the remarks, including PetSmart; Anytime Fitness; Polaris Dance Studio; and Valley Dental. PetSmart has verbally indicated in the past that it would not leave the market to help maintain competition. The remarks also state that 38% of current GLA expires within the next five years with no remaining tenant options, creating an opportunity for near-term rent reset based on current market levels, with overall in-place rents described as approximately 18–22% below current market asking.
Key Highlights
- 40,617 SF PetSmart‑anchored destination retail center shadow‑anchored by a recently renovated Super Target
- Direct visibility and signage along I‑95 with dual pylon signage to 167,000+ VPD
- 100% occupied tenant mix anchored by PetSmart plus Anytime Fitness, Polaris Dance Studio, and Valley Dental
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $848.1k | $20.88 |
| − Vacancy | −$22.1k | −$0.54 |
| EGI | $826.0k | $20.34 |
| − OpEx | −$247.8k | −$6.10 |
| NOI | $578.2k | $14.24 |
40,617 SF · lease $20.88/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$8.26M
$7.23M – $9.64M
NOI $578,223 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.73M
$11.14M – $14.85M
NOI $891,224 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Ansam Albergogue Zaiber
Dental Office
PetSmart Dog Training
Animal Training
Dr. Rakesh Rao
Physician
PetSmart Grooming
Pet Grooming Service
Virginia School of Bhangra ...
Training Center
Similar For Sale Nearby
Similar Off Market Nearby
- Carter's Crossing — 25 S Gateway Dr, Fredericksburg, VA 22406
- Plantation Crossing — 752 Warrenton Rd, Fredericksburg, VA 22406
- Jefferson Building — 150 Riverside Manor Blvd, Falmouth, VA 22406
- Olde Forge Shopping Center — 367 Warrenton Rd, Fredericksburg, VA 22405
FAQs
What type of property is this?
Shopping center - PetSmart-anchored destination retail center with direct I-95 visibility and 100% occupancy.
Where is this shopping center located?
The property is located at 27 S Gateway Dr Fredericksburg, VA.
What is the asking price?
The asking price for this property is $9,230,000.
What are key features of this property?
This property features: 40,617 SF PetSmart‑anchored destination retail center shadow‑anchored by a recently renovated Super Target; Direct visibility and signage along I‑95 with dual pylon signage to 167,000+ VPD; 100% occupied tenant mix anchored by PetSmart plus Anytime Fitness, Polaris Dance Studio, and Valley Dental
