Building Details

Year Built 2026

Tenancy Multi

Listing Agency: Coldwell Banker Commercial Elite Show Phone

Listed By: Brian Cunningham · License #0225185942 Show Phone

Source: Moodyscre

Added: Jul 3 Changed: Sep 14 Last Checked: Oct 5 at 9:10PM

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Investment Insights

Based on property information with market context.

Newly constructed in 2026, this industrial/flex property features modern, high-quality industrial suites designed for flexibility and functional use. Two units have already been sold or leased, leaving one 4,000 SF unit and one 2,000 SF unit currently available for sale or lease, or together as a contiguous 6,000 SF opportunity.

The property is zoned I-2 and positioned within Fredericksburg’s growing industrial corridor, supporting a range of industrial and flex-oriented uses consistent with the zoning designation.

Key Highlights

• Newly constructed 10,000 SF industrial/flex property completed in 2026
• Available units: one 4,000 SF unit and one 2,000 SF unit, or together as a contiguous 6,000 SF opportunity
• I‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,694

Cap Rate

4.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$893,880 $893.9K

Cap Rate 7%

$638,486 $638.5K

Cap Rate 9%

$496,600 $496.6K

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$72.0K $18.00/SF

− Vacancy

−$3.2K −$0.81/SF

EGI

$68.8K $17.19/SF

− OpEx

−$24.1K −$6.02/SF

NOI

$44.7K $11.17/SF

Area

Spotsylvania County, VA

Vacancy

4.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$893,880

Cap Rate 7%

$638,486

Cap Rate 9%

$496,600

Alternative Uses

Best Use

Flex RnD

$638.5K

$558.7K – $744.9K (±1% cap)

NOI $44,694 @ 7.0% cap · market cap 4.43%

Second Best

Industrial

$369.7K

$323.5K – $431.3K (±1% cap)

NOI $25,880 @ 7.0% cap · market cap 2.56%

Theoretical Best

Office A

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,769 @ 7.0% cap · market cap 8.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Electrical Service Furniture & Home Goods Grocery & Convenience Store Law Firm Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

175

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 22408, VA

32,043

Population

12,438

Households

2.6

Avg Household Size

36

Median Age

40%

College-Educated

92%

High-School Grad

47.3 sq mi

ZIP Area

677

Density / Sq Mi

$114,598

Median Household Income

$54,934

Median Earnings

$1,771

Median Rent

$353,500

Median Home Value

Market

Vacancy Rate% for Industrial in Fredericksburg, VA

5.1% 2019

4.8% 2020

2.7% 2021

2% 2022

4.5% 2023

7.4% 2024

4.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - New 2026 industrial/flex property offering a 4,000 SF and 2,000 SF unit, with I-2 zoning.

Where is this flex space located?

The property is located at 3406 Shannon Park Dr Fredericksburg, VA.

What is the asking price?

The asking price for this property is $1,010,000.

What are key features of this property?

This property features: Newly constructed 10,000 SF industrial/flex property completed in 2026; Available units: one 4,000 SF unit and one 2,000 SF unit, or together as a contiguous 6,000 SF opportunity; I‑2 zoning