Flex Space with Shop
For Sale
$600,000
4500 Plank Rd, Fredericksburg, VA 22407
Two proposed commercial condominium buildings combine office accommodations with garage or shop space for storage and light production.
Property Size1,950 SF
Price / SF$307.69
Days on Market48
Property Features for 4500 Plank Rd
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Industrial - Flex - Industrial
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$600,000
Building Details
Building Size
1,950 SF
Year Built
2026
Buildings
1
Units
2
Listing Agency:
Vakos Real Estate Services
Listed By:
Jonathan Gardner · License #0225204198
(540) 898-3242
Source:
Commercialcafe
Added: Sep 5
Changed: Oct 22
Last Checked: Oct 20 at 5:49PM
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 Vakos Real Estate Services
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Investment Insights
Based on property information with market context.
Planned flex space at 4500 Plank Rd will comprise two commercial condominium buildings with office areas and dedicated garage or shop bays. Building A is designed at 1,950 square feet, while Building B is planned for 3,483 square feet. Each building is intended to support storage and light production, including contractor office operations. Site plan approval is in place, and the buildings are identified as 2026 construction.
The property sits along Plank Road, also identified as Route 3, west of Salem Church Road. Reported traffic volume exceeds 56,000 vehicles per day, and the site is within five minutes of I-95 exit 130. Parking is planned around the buildings, with signalized access from Route 3 into the business park.
The property sits along Plank Road, also identified as Route 3, west of Salem Church Road. Reported traffic volume exceeds 56,000 vehicles per day, and the site is within five minutes of I-95 exit 130. Parking is planned around the buildings, with signalized access from Route 3 into the business park.
Key Highlights
- Two planned flex‑space condominium buildings measuring 1,950 SF and 3,483 SF
- Each building includes a garage/shop bay for storage and light production
- Office and warehouse‑style configurations support contractor operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,134
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,680
$722.7K
Cap Rate 7%
$516,200
$516.2K
Cap Rate 9%
$401,489
$401.5K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$53.1K $27.24/SF
− Vacancy
−$4.9K −$2.53/SF
EGI
$48.2K $24.71/SF
− OpEx
−$12.0K −$6.18/SF
NOI
$36.1K $18.53/SF
Area
Spotsylvania County, VA
Vacancy
9.30%
Lease Rate
$27.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,680
Cap Rate 7%
$516,200
Cap Rate 9%
$401,489
Alternative Uses
Best Use
Office B
$516.2K
$451.7K – $602.2K
NOI $36,134 @ 7.0% cap · market cap 6.02%
Second Best
Flex RnD
$311.3K
$272.4K – $363.1K
NOI $21,788 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$611.2K
$534.8K – $713.1K
NOI $42,787 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Under-served
Demand for This Use
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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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Market
Vacancy Rate% for Office in Fredericksburg, VA
Frequently Asked Questions
What type of property is this?
Flex space - Two proposed commercial condominium buildings combine office accommodations with garage or shop space for storage and light production.
Where is this flex space located?
The property is located at 4500 Plank Rd Fredericksburg, VA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two planned flex‑space condominium buildings measuring 1,950 SF and 3,483 SF; Each building includes a garage/shop bay for storage and light production; Office and warehouse‑style configurations support contractor operations
