Carters Crossing | 27 South Gateway Drive | Fredericksburg, VA

For Sale

27 South Gateway Drive, Fredericksburg, VA 22406

This Fredericksburg property for sale is located at 27 South Gateway Drive. The current listed sale price for Carters Crossing | 27 South Gateway Drive | Fredericksburg, VA is $9,580,000. Carters Crossing | 27 South Gateway Drive | Fredericksburg, VA is situated on a lot that is 3.92 acre in size.

Contacts

broker
Will Young

Bull Realty

Property Details

  • Property Type Retail - Strip
  • Property Size 40,617 SF
  • Units 7
  • Lot Size 3.92 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Multi-Tenant
  • Year Built 2007
  • Date Updated Dec 12, 2024
Fredericksburg, VABull 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 $9,580,000 ($235.86/SF), which based on the scheduled rents, and delivers this property to market at a 7.9% cap rate.
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Highlights

  • 100% leased retail strip center with seven (7) tenants including PetSmart and Planet Fitness
  • Property is attached and shadow anchored by a strong performing 125,000 SF Target
  • Loyal tenant base with a 4.0 year weighted average lease term remaining (WALT)
  • Over 61% of GLA is occupied by national tenants
  • PetSmart, the strip anchor, has been at the Carter’s Crossing since the original development in 2007
  • Both PetSmart and Anytime Fitness recently exercised their option to renew
  • 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
  • Site has three different signage locations including two large pylons for maximum exposure

Getting around

  • 35/100

    Walk Score ®

  • 35/100

    Bike Score ®

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Location

  • City Fredericksburg, VA
  • Neighborhood Southern Gateway
  • Zip Code 22406
  • Market Washington DC Suburban Maryland

Points of Interest

  • Spotsylvania

    9.10 miles

  • Wawa

    0.24 miles

  • Shell

    0.26 miles

  • MAPCO

    0.43 miles

  • Exxon

    0.57 miles

  • 7-Eleven

    1.09 miles

  • Valero

    1.94 miles

  • Sunoco

    2.16 miles

  • Tesla Supercharger

    8.29 miles

  • Route 17 Park and Ride Lot

    0.55 miles

  • Eagle Village Parking Deck

    2.69 miles

  • UMW Parking Deck

    2.75 miles

  • Leeland VRE Park and Ride Lot

    2.92 miles

  • VRE/GWRC Parking Lot

    3.80 miles

  • Salem Church Road Park and Ride Lot

    4.73 miles

  • Gordon Road Commuter Lot

    5.44 miles

  • Bus Lot

    5.58 miles

  • Route 208 Park and Ride Lot

    6.53 miles

  • Sam’s Pizza & Subs

    0.00 miles

  • Freddy's

    0.17 miles

  • McDonald's

    0.18 miles

  • Chipotle

    0.18 miles

  • Subway

    0.19 miles

  • Panera Bread

    0.19 miles

  • Tropical Smoothie Cafe

    0.19 miles

  • IHOP

    0.30 miles

  • Sam's Pizza and Subs

    0.31 miles

  • Waffle House

    0.32 miles

  • Target

    0.10 miles

  • Big Lots

    0.82 miles

  • Giant

    1.87 miles

  • ALDI

    1.99 miles

  • Fredericksburg Food Co-Op

    2.26 miles

  • Tortillería Mixteca

    2.31 miles

  • Wegmans

    2.40 miles

  • Lidl

    2.45 miles

  • Walmart Supercenter

    2.58 miles

  • Kohl's

    2.98 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Will Young

Bull Realty