9723 Jefferson Davis HwyFredericksburg, VA 22407MLS Number VASP2008286

  • Price: $3,500,000
  • 51 Days on Market
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Federal 30-year interest rate: 5.25% last updated on May 19, 2022
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9723 Jefferson Davis Hwy Fredericksburg VA 224079723 Jefferson Davis Hwy Fredericksburg VA 224079723 Jefferson Davis Hwy Fredericksburg VA 224079723 Jefferson Davis Hwy Fredericksburg VA 224079723 Jefferson Davis Hwy Fredericksburg VA 22407
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  • 2007Year Built
  • 157Price Per Square Foot
  • 2021Assessment Year
  • AnnuallyCity Town Tax Payment Frequency
This is an investment property with a 7.0% cap rate without considering the after tax benefits which increases the effective cap rate (to 7.7%). Solid lease with Planet Fitness Franchisee whose lease doesn't expire until 7/31/2027. Will most likely extend and take options. The extension may be negotiated prior to closing if necessary for a longer term, with a possible drop in escalations to entice the tenant to extend. Must sign a Non-Disclosure before Financial Information is provided, as well as pre-qualification financially as a Buyer. Former Staples big box completely renovated in 2017 for the Planet Fitness. Strong business and membership which bodes well for extension beyond the current 5 years. **Street name recently changed to Patriot Hwy.
Listed by Christian P Kaila of EXIT Elite Realty

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Basic Information

  • Broker NameEXIT Elite Realty
  • List Price$3,500,000
  • MLS NumberVASP2008286
  • MLS Property TypeCommercial Sale
  • Price Per Square Foot157
  • StatusActive With Contract
  • Vacation Rental YNN

Building

  • Building Area SourceEstimated
  • Building Area Total22336
  • Construction MaterialsMasonry
  • Garage Spaces
  • Num Attached Garage Spaces
  • Num Detached Garage Spaces
  • Total Garage And Parking Spaces114
  • Year Built2007
  • Year Built Effective2017

Water Body

  • Tidal Water YNN
  • Water AccessN
  • Water View YNN
  • WaterfrontN

Tax Information

  • Assessment Year2021
  • City Town Tax Payment FrequencyAnnually
  • County Tax18818
  • County Tax Payment FrequencyAnnually
  • Tax Assessment Amount2325000
  • Tax Lot5A
  • Tax Year2021
  • Taxes$27,421
  • Total Taxes Payment FrequencyAnnually

Property

  • Business TypeBig Box Retail, Health Club, Recreation, Shopping Center, Other
  • New Construction YNN
  • Property ConditionGood
  • Property SubTypeRetail
  • ZoningC3

Utilities

  • Central Air YNY
  • CoolingCentral A/C
  • Cooling FuelElectric
  • Heat SystemCentral
  • Heating FuelElectric
  • Heating YNY
  • SewerPublic Sewer
  • Water HeaterElectric
  • Water SourcePublic

Parking

  • Assigned Parking Spaces
  • Parking TypesParking Lot

Basic Information

  • Date Listed03/31/2022

Location

  • Address9723 Jefferson Davis Hwy
  • Building Number9723
  • CountySpotsylvania
  • DirectionsCosner's Corner just south of City of Fredericksburg in Spotsylvania County
  • In City Limits YNN
  • Navigable Water YNN
  • StateVA
  • TownFredericksburg
  • Water Oriented YNN
  • Zip22407

Exterior

  • RoofFlat, Metal

Amenities

  • Accessibility AmenitiesNone

Legal

  • PossessionSubject to Existing Lease
  • Sale TypeStandard
  • Total Actual Rent244565

Other

  • Cap Rate7
  • Gross Income244656

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Copyright 2022 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Carter Braxton Preferred Properties participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated May 21, 2022. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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