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9723 Jefferson Davis Highway

FREDERICKSBURG, VA 22407
  • $3,500,000
  • STATUS: Active Under Contract
  • ON SITE: 55 Days
  • ID#: VASP2008286
Under Contract
UPDATED: 97 min ago
$3,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
2007
County:

School Ratings & Info

Description

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.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Crews Real Estate | EXP Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-25T23:51:02.283.
www.crewsrealestate.com/homes/127244462
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9723 Jefferson Davis Highway FREDERICKSBURG, VA 22407

  • Price: $3,500,000
  • Status: Active Under Contract
  • On Site: 55 Days
  • Updated: 97 min ago
  • ID#: VASP2008286
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2007
Built
County:
Spotsylvania
School District:
Spotsylvania County Public Schools
Property Description
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.
Exterior Features

Construction Materials Masonry Garage YN No Parking Types Parking Lot Property Condition Good Riparian Rights YN No Roof FlatMetal Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 22336.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 20388.00

Property Features

Acceptable Financing CashConventional Accessibility Features None Annual Gross Expense 0.00 Assessment Year 2021 Business Type Big Box RetailHealth ClubRecreationShopping CenterOther Central Air YN Yes Cooling Fuel Electric Electric Expense 0.00 Gross Income 244656.00 Heating Fuel Electric Hot Water Electric Insurance Expense 0.00 Maintenance Expense 0.00 Navigable Water YN N Net Operating Income 244656.00 New Construction YN No Number Of Units Total 0 Original MLSNumber 801442151850 Owner Pays None Ownership Interest Other Possession Subject To Existing Lease Property Sub Type Retail Sale Type Standard Sewer Public Sewer Tax Annual Amount 27421.00 Tax Assessment Amount 2325000.00 Tax Lot 5A Total Actual Rent 244565.00 Trash Expense 0.00 Vacation Rental YN No Water Source Public Year Built Effective 2017 Zoning C3

Listing courtesy of Exit Elite Realty.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Crews Real Estate | EXP Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-25T23:51:02.283.
 
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1320 Central Park Blvd, #200
Fredericksburg VA, 22401