3102 Plank Rd Fredericksburg, VA 22407-4900

Property Details for 3102 Plank Rd

Year built

1982

Lot size

1.20 lot acres

Property size

4,763 SF

Zone code

C2 - COMMERCIAL 2

Property type

Commercial real estate

APN

13-9-24

APU

13924

Description

This exceptional investment opportunity presents a 5,900 square foot, single-tenant, absolute NNN leased storefront occupied by Jared Jewelry. Located in Fredericksburg, Virginia, at 3102 Plank Rd, 22407, this property boasts a strong 9.50% cap rate and a substantial net operating income (NOI) of $432,575. Built in 2009, the property sits on a 0.97-acre lot and benefits from a corporate guarantee and a lease with 5.2 years remaining, extending to January 31, 2030, with 4 or 5-year renewal options at a 10% rent increase. The property enjoys a prime location as an outparcel to the Spotsylvania Towne Center, a thriving shopping center with high traffic volume due to its proximity to Interstate 95 and Germanna Highway (over 200,000 vehicles daily). The surrounding area features numerous destination retailers, including Costco, Belk, Dick's Sporting Goods, and more, ensuring consistent foot traffic. The immediate area demonstrates strong demographics, with a population of nearly 6,000 within a 1-mile radius, a 29% population growth since 2010, and a median household income exceeding $112,000. This fee-simple ownership offers a secure, passive income stream, ideal for a 1031 exchange. The property's exceptional location, strong tenant, and favorable lease terms make it a compelling investment prospect. The absolute NNN lease structure eliminates landlord responsibilities, providing a truly passive investment.

Location Insight

City

Fredericksburg

County

Spotsylvania

State

Virginia

Longitude

-77.5158

Latitude

38.2944

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments