Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1068-1076 Hospitality Ln Fredericksburg, VA 22401

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1068-1076 Hospitality Ln Fredericksburg, VA 22401

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1068-1076 Hospitality Ln

    Property type
    Land

    Description

    This exceptional 1.78-acre commercial land parcel in Fredericksburg, Virginia, presents a unique development opportunity. Located in a Planned District-Commercial (PD-C) zone and within a Special Tourism and Events Overlay District, this shovel-ready pad site boasts significant advantages. Public utilities, curbs, gutters, and sidewalks are already in place, minimizing development costs and expediting the construction process. The property's prime location near the Fredericksburg Convention Center, Fredericksburg Nationals Stadium, and numerous retail establishments including Walmart, Sheetz, Wegman's, and several hotels, ensures high visibility and accessibility. The site is conveniently situated just 1.5 miles north of I-95 Exit 130 (Rt. 3 exit), benefiting from exceptional traffic counts on nearby Fall Hill Ave (13,000 VPD), Carl D. Siler Pkwy (19,000 VPD), and I-95 (136,000 VPD). Zoning allows for mixed-use development, including retail, residential, lodging, and entertainment options. This property is designated as a Federal Opportunity Zone, offering potential tax advantages. The 2025 tax assessment is $1,240,600, with 2023 annual taxes of $28,124 (based on a 2023 assessment of $1,085,500). The parcel ID is 7769-88-0831. This is a truly exceptional opportunity for investors seeking a prime location with significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Fredericksburg City
    State
    Virginia
    Longitude
    -77.5059
    Latitude
    38.3139

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      606 Barton St

      Land • 4,621 SF
      606 Barton St, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      4.05 Acres

      Fall Hill Ave

      Land • 4.05 Acres
      0 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request

      Outparcel Cor

      Land
      Outparcel Cor, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      0.18 Acres

      925 Princess Anne St

      Land • 21,222 SF
      925 Princess Anne St, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      34.20 Acres

      3430 Fall Hill Ave

      Land • 34.20 Acres
      3430 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • Value Estimation by Request
      1.09 Acres

      7769-85-5954 Cowan Blvd

      Land • 1.09 Acres
      7769-85-5954 Cowan Blvd, Fredericksburg, VA 22401
      View Details

    Similar Nearby for Sale

    • $349,900
      1.43 Acres

      Fredericksburg City Lot For Sale

      1.43 acre city lot with building potential.
      Emancipation Hwy, Fredericksburg, VA 22401
      View Details
    • $750,000
      0.25 Acres

      Fredericksburg Historic District Development Opportunity

      Three adjacent lots with two historic structures in Fredericksburg.
      309 Prince Edward St, Fredericksburg, VA 22401
      View Details
    • $295,000

      Downtown Fredericksburg Commercial/Residential Lot

      Commercial or residential lot near downtown shops and restaurants.
      904 Liberty St, Fredericksburg, VA 22401
      View Details
    • Contact for pricing

      Undeveloped Land Near Central Park

      34.2 acres of land with up-zoning potential.
      3430 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • $850,000

      Visible Acreage Near I-95

      1.09 acre commercial land with high visibility.
      Cowan Blvd, Fredericksburg, VA 22401
      View Details
    • $30,000,000

      Fredericksburg Land Parcel For Sale

      34.2 acre undeveloped parcel near Central Park.
      3430 Fall Hill Ave, Fredericksburg, VA 22401
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      2,506 SF

      Prime Fredericksburg Office Building

      Free-standing office with high visibility.
      2515 Fall Hill Ave, Fredericksburg, VA 22401
      View Details
    • $80,000
      43,560 SF

      Cosner's Corner Commercial Land

      1-Acre Lot, Prime Fredericksburg Location
      Outparcel Cor, Fredericksburg, VA 22401
      View Details
    • Contact for pricing

      Wegmans Outparcel for Lease

      1.52 acre outparcel to Wegmans grocery for lease.
      2281 Carl D Silver Pkwy, Fredericksburg, VA 22401
      View Details
    • Contact for pricing

      Flexible Workspace Solutions Available

      Global network of workspaces with flexible options and locations.
      1320 Central Park Blvd, Fredericksburg, VA 22401
      View Details
    • $2,100 /Mo

      Stand-alone Commercial Building For Rent

      One-story commercial building with parking available for lease.
      624 Wolfe St, Fredericksburg, VA 22401
      View Details
    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.
    1068-1076 Hospitality Ln
    Fredericksburg, VA 22401
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!