Multi-Tenant Retail/Office Building For
4300 Plank Road, Fredericksburg, VA 22407
20,000 SF, 95% leased retail/office building on Plank Road.
Type:Retail
Property size:
20,000 SFPrice / SF:
$370/SF- Added:
- May 16, 2018
- Days on Market:
- 2930
- Last Refresh:
- May 20 at 8:22 pm
Property Features for 4300 Plank Road
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing agent Brian Cunningham, CCIM
Listing office Coldwell Banker Elite Fredericksburg
Listing date May 16, 2018
Source Crexi
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 Coldwell Banker Elite Fredericksburg
HighLights
- Highly visible location on Route 3 with over 70,000 vehicles per day (VPD).
- 20,000 SF Multi‑Tenant Retail/Professional Office Building.
- 95% leased with strong tenants in place.
- Located in a densely populated area with over 50,000 residents within 3 miles.
- Proximity to economic drivers: commuter lot, shopping center, and residential communities.
- Less than 2 miles west of I‑95.
Overview
This 20,000 square foot multi-tenant retail and professional office building is for sale. The property is located less than 2 miles west of I-95 on Plank Road/Route 3. The location benefits from direct frontage and easy accessibility, with over 70,000 vehicles per day. The property is 95% occupied by tenants including Edward Jones, Mathnasium, US Army (recruiting office), Westside Medical, Radiant Wellness Massage, Art of Balance Yoga, Hair Mosaics and a dentist. The property's location along Route 3 benefits from its proximity to a 702-space commuter lot, Chancellor Center (a shopping center anchored by Food Lion, Aldi and Tractor Supply), and densely populated housing communities with over 50,000 residents within 3 miles.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$4.12M
NOI $370,600 @ 9.00% cap · cautious / downside scenario
Moderate
$5.29M
NOI $370,600 @ 7.00% cap · market / base-case scenario
Aggressive
$7.41M
NOI $370,600 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $544.8k | $27.24 |
| − Vacancy | −$50.7k | −$2.53 |
| EGI | $494.1k | $24.71 |
| − OpEx | −$123.5k | −$6.18 |
| NOI | $370.6k | $18.53 |
20,000 SF · lease $27.24/SF/yr · vacancy 9.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$5.29M
$4.63M – $6.18M
NOI $370,600 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$4.07M
$3.56M – $4.75M
NOI $284,720 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$6.27M
$5.49M – $7.31M
NOI $438,843 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Hair Mosaics Salon ...
Hair Salon
US Air Force ...
Military Recruiting Office
US Marine Corps ...
Military Recruiting Office
Radiant Wellness Massage
Alternative Medicine Practice
Comments on
Physician
Location Insight
- Map
- Local Demand
- City
- Fredericksburg
- County
- Spotsylvania
- State
- Virginia
- Longitude
- -77.5365086
- Latitude
- 38.2880737
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 20,000 SF, 95% leased retail/office building on Plank Road.
Where is this retail space located?
The property is located at 4300 Plank Road Fredericksburg, VA.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: Highly visible location on Route 3 with over 70,000 vehicles per day (VPD).; 20,000 SF Multi‑Tenant Retail/Professional Office Building.; 95% leased with strong tenants in place.
