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

    3501 Plank Rd Fredericksburg, VA 22407-6830

    • Commercial real estate
    • 56,588 SF
    • 8.73 lot acres
    OFF-MARKET
    Value Estimations
    $6,505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0933746
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Amazon Locker - Reluctance / Postal Service / Courier Service
    • Gabe's / Clothing & Fashion Store
    • Spotsylvania Crossing / Shopping Center & Mall
    • ATM (PNC Bank) / Atm

    Property Details for 3501 Plank Rd

    Lot size
    8.73 lot acres
    Property size
    56,588 SF
    Zone code
    C2 - COMMERCIAL 2
    Property type
    Commercial real estate
    APN
    13-A-47H
    APU
    13A47H

    Description

    This exceptional Fredericksburg, VA property, Spotsylvania Crossing, offers 8,050 square feet of prime retail and office space currently available for lease. The building is situated at 3501 Plank Rd, 22407, and features multiple tenancy options, perfect for businesses of varying sizes. Individual suites range from a minimum of 845 square feet to a maximum contiguous space of 3,000 square feet, providing flexibility for diverse needs. The entire 8,050 square feet is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire building or for multiple tenants to establish themselves in this vibrant location. The property's "Executive Office," "Storefront," and "Traditional" subtypes cater to a wide range of business models. Its strategic location in Fredericksburg, Virginia offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a prominent presence in a thriving market. The property is classified as both retail and office space, providing versatility and potential for a variety of uses. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,198,000
      Market price range: $2.88M - $10.6M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.5206
    Latitude
    38.2949
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $65,439
    $4,715,500
    $3,764,300
    $8,479,800
    -
    $4,715,500
    $3,764,300
    $8,479,800

    Comparable in this City

    • Value Estimation by Request
      17,500 SF

      9841 Patriot Hwy

      Land • 17,500 SF
      9841 Patriot Hwy, Fredericksburg, VA 22407
      View Details
    • Value Estimation by Request
      3.52 Acres

      5405 Southpoint Centre Blvd

      Land • 3.52 Acres
      5405 Southpoint Centre Blvd, Fredericksburg, VA 22407
      View Details
    • Value Estimation by Request
      0.21 Acres

      Plank Rd

      COMMERCIAL (GENERAL) • 0.21 Acres
      Plank Rd, Fredericksburg, VA 22407
      View Details
    • Value Estimation by Request

      4530 Plank Rd, Unit 4

      COMMERCIAL (GENERAL)
      4530 Plank Rd, Fredericksburg, VA 22407-0140
      View Details
    • Value Estimation by Request
      702 SF

      3516 Plank Rd, Unit 4B

      COMMERCIAL (GENERAL) • 702 SF
      3516 Plank Rd, Fredericksburg, VA 22407-6861
      View Details
    • Value Estimation
      $905,000
      5,734 SF

      10060 Patriot Hwy

      COMMERCIAL (GENERAL) • 5,734 SF
      10060 Patriot Hwy, Fredericksburg, VA 22407-9418
      View Details

    Similar Nearby for Sale

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    • $950,000
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      Fredericksburg Commercial Land - 7.8 Acres

      Prime Commercial Land, Route 1 Frontage, High Traffic
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      Fredericksburg Land: 1.5 Acres

      Prime 1.5-acre vacant lot in Fredericksburg, VA.
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    • $1,100,000
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      Prime Fredericksburg Land for Sale

      1.12 Acres, High-Traffic Location
      3910 Plank Rd, Fredericksburg, VA 22407
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    Similar Nearby for Lease

    • Contact for pricing

      Prime Fredericksburg City Land

      3.94 Acres, Vacant, Multiple Tenancy
      10704 Courthouse Rd, Fredericksburg, VA 22407
      View Details
    • Contact for pricing
      1 SF

      Fredericksburg Retail Pad for Lease

      Prime 1-acre retail space in Spotsylvania County.
      5000 Plank Rd, Fredericksburg, VA 22407
      View Details
    • $28 SF/Yr
      17,771 SF

      Prime Fredericksburg Office Space

      17,771 SF Office Building, 2,550 SF Vacant
      3504 Plank Rd, Fredericksburg, VA 22407
      View Details
    • $20 SF/Yr
      3,061 SF

      Retail Space in Cosner's Corner

      Retail space in regional power center, Cosner’s Corner.
      9911-9915 Jefferson Davis Hwy, Fredericksburg, VA 22407
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    • $20 SF/Yr
      2,400 SF

      Retail Spaces in Anchored Center

      Retail spaces available in a busy, visible shopping center.
      10600-10697 Courthouse Rd, Fredericksburg, VA 22407
      View Details
    • $12 SF/Yr
      11,200 SF

      Industrial Warehouse Space For Lease

      Class A industrial warehouse space with outside storage potential.
      8110 River Stone Dr, Fredericksburg, VA 22407
      View Details
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    Fredericksburg, VA 22407-6830
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    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
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