27 S Gateway Dr - Retail FOR SALE


Fredericksburg, VA 22406
$10,000,000 USD
404-876-1640
27 S Gateway Dr, Fredericksburg, VA for Sale
$10,000,000 USD
Retail - FOR SALE
1/13
null | 7.57% Cap Rate

27 S Gateway Dr
Fredericksburg, VA 22406


HIGHLIGHTS

  • 100% leased Target shadow community center with seven (7) tenants
  • Loyal tenant base with a 4.0 year weighted average lease term remaining (WALT)
  • Over 61% of GLA is occupied by national tenants
  • Excellent tenant diversity with service retailers, fitness, food & beverage, and medical users
  • Located directly off Interstate 95 (170,000 VPD) - the East Coast’s main corridor- at Exit 133
  • Located on South Gateway Drive just off of U.S. Route 17 which sees over 44,000 additional vehicles pass by the Property daily

OVERVIEW

Bull Realty, Inc. is pleased to exclusively offer for sale Carter’s Crossing (the “Property”), a 100% leased, 40,617 square foot community center shadow anchored by a high-performing Target in Fredericksburg, Virginia. The Property benefits from a national tenant roster including PetSmart and Anytime Fitness, which comprise over half of the GLA. Both of these tenants have a proven operating history at this location, and PetSmart has been at Carter’s Crossing since its original development in 2007. Anytime Fitness recently exercised an early 6-year extension contributing to the Property’s approximate weighted 4.0 average lease term remaining. The Property is located along the main commercial corridor of Fredericksburg (Route 17) just off Interstate 95, the East Coast’s main corridor which sees over 170,000 combined vehicles per day, including 74,900 which pass directly by the Property. Located within a dynamic, infill location in the fast-growing Fredericksburg market. The Property benefits from the 10.7M SF of retail, 4.8M SF of office, and 8,279 apartment units located within a five-mile radius. All of the Tenants reimburse for operating expenses and pay rent on a NNN basis. This property is available to purchase for $10,000,000, which based on the scheduled rents, and delivers this property to market at a 7.5% cap rate. Broker Contacts: Will Young Bull Realty WYoung@BullRealty.com 404-876-1640 x141 Brian Brockman Bang Realty Brian@BangRealty.com 518-898-1551 VA License # 0225245999

FOR SALE DETAILS

PRICE

$10,000,000 USD

PRICE/SF

$246 USD /SF

CAP RATE

7.57%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carter's Crossing

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

196

LAND DETAILS

LAND ACRES

3.92 AC

LAND SF

170,755 SF

ZONING

PDC

APN/PARCEL ID

45T-4

ASK ABOUT THIS PROPERTY

Will YoungBull Realty Inc.More Info
404-876-1640

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Will YoungBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.