Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Land on Route 17 Title is generated by Realmo AI

    Banks Ford Pkwy, Fredericksburg, VA

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Cleared, graded land with utilities on site near Lowe's.

    Type:LAND
    Lot size:
    16.43 Acres
    Added:
    Jul 10, 2023
    Days on Market:
    1060
    Last Refresh:
    May 19 at 10:57 pm

    Property Features for Banks Ford Pkwy

    General Information

    Standard status
    Active
    Lot size
    16.43 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Virgil Nelson
    Virgil Nelson

    Listing agent Virgil Nelson

    Listing office Cushman & Wakefield | Thalhimer - Fredericksburg

    Listing date Jul 10, 2023

    Source Moodyscre

    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 Cushman & Wakefield | Thalhimer - Fredericksburg

    HighLights

    • Aggressively priced to move quickly (bank owned).
    • High traffic location: Over 55,000 vehicles per day (VPD) on Route 17.
    • Cleared and graded land with utilities on site.
    • Pad sites available near Lowe's fronting Route 17.
    • Suitable for various uses: quick service restaurant, retail center, office park, storage facility, etc.
    • Additional parcels available nearby along Banks Ford Parkway.

    Overview

    This property presents an ideal opportunity for investors or end-users. It features pad sites ranging from 1 to 2.5 acres near Lowe’s, fronting Route 17. Additional parcels are available nearby on both sides of Banks Ford Parkway. The land is cleared and graded, with utilities on site. It is aggressively priced to move quickly. The location is suitable for various uses, including a quick-service restaurant with a drive-thru, a multi-tenant retail center, an office park, a storage facility, or traditional service retailers. The property benefits from high traffic volume, with over 55,000 vehicles per day on Route 17.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Fredericksburg
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.5202
    Latitude
    38.3608

    Nearby Similar for Sale

    • $789,924

      Fredericksburg Office Condominium For Sale

      Office condominium ideal for owner-user or investor in Fredericksburg.
      927 MAPLE GROVE Drive, FREDERICKSBURG, VA 22407
      View Details
    • $849,900
      4,723 SF

      Fredericksburg Triplex: Investor Opportunity

      Income-producing triplex near University of Mary Washington.
      1318 DANDRIDGE Street, FREDERICKSBURG, VA 22401
      View Details
    • $1,100,000

      Historic Commercial Building on 1.4 Acres

      Unique commercial property with historical significance and high visibility.
      77 CAMBRIDGE Street, FREDERICKSBURG, VA 22405
      View Details
    • $899,500

      Commercial Acres on Corner Lot

      2.12 acres zoned C-2 Commercial in Fredericksburg, Virginia.
      11100 PIERSON Drive, FREDERICKSBURG, VA 22408
      View Details
    • $2,500,000

      Commercial Land on Harrison Road

      Commercial lots with road frontage on a busy corridor.
      5721 HARRISON Road, FREDERICKSBURG, VA 22407
      View Details
    • $1,500,000

      Fredericksburg Office Building Investment

      8,652 SF office building in a prime commercial corridor.
      3920 PLANK Road, FREDERICKSBURG, VA 22407
      View Details
    • $789,924
      3,196 SF

      Fredericksburg Office Condo For Sale

      3196 SF office condo ideal for owner-user or investor.
      927 MAPLE GROVE Dr 201, Fredericksburg, VA 22407
      View Details
    • $500,000
      2,406 SF

      Commercial Building with Apartment, Garage

      Commercial building with apartment, garage, and existing lease.
      4611 Ewell Rd, Fredericksburg, VA
      View Details
    • $2,899,999

      Fredericksburg Estate with River Frontage

      200+ acre estate with Rappahannock River frontage.
      1432 KINGS HWY, FREDERICKSBURG, VA 22405
      View Details
    • $900,000
      2,550 SF

      Fredericksburg Historic District Development Opportunity

      Three adjacent lots with two historic structures in downtown Fredericksburg.
      309 PRINCE EDWARD Street, FREDERICKSBURG, VA 22401
      View Details
    • $399,000
      468 SF

      Fredericksburg Commercial Property on Princess Anne

      468 SF commercial property in shell condition on Princess Anne.
      1504 PRINCESS ANNE St, Fredericksburg, VA 22401
      View Details
    • $5,000,000

      Commercial Land on Harrison Road

      Commercial land with road frontage on a busy corridor.
      5731 HARRISON Road, FREDERICKSBURG, VA 22407
      View Details

    FAQs

    What type of property is this?
    Land - Cleared, graded land with utilities on site near Lowe's.
    Where is this land located?
    The property is located at Banks Ford Pkwy Fredericksburg, VA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Aggressively priced to move quickly (bank owned).; High traffic location: Over 55,000 vehicles per day (VPD) on Route 17.; Cleared and graded land with utilities on site.
    (540) 846-1390 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Virgil Nelson
    Virgil Nelson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Banks Ford Pkwy, Fredericksburg, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!