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Outback - Fredericksburg, VA 2941 Plank Rd 6,100 SF Retail Building Fredericksburg, VA 22401 $5,683,226 CAD ($931.68 CAD/SF) 5% Cap Rate
Investment Highlights
- Surrounded by national anchor tenants including Best Buy, Target, Walmart, Lowe’s, Hobby Lobby, PetSmart, Regal Cinemas, DSW, and more.
- Signalized intersection, dedicated turn lane, and prominent pylon signage.
- Lake frontage and a large outdoor patio enhancing customer experience and dwell time.
- Immediately off I-95, serving as a key community stop between Washington, DC, and Richmond.
- Positioned in the center of a dense cluster of major retailers, driving consistent consumer draw.
- Fredericksburg offers a stable and growing economy with high median incomes and access to both DC and Richmond employment bases.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 6,100 SF Outback Steakhouse located at 2941 Plank Road in a strong retail corridor in Fredericksburg, VA. The property is secured with an Absolute Triple Net (NNN) Lease providing for no landlord responsibilities and 10% rental escalations every 5-years, making it a high-quality long term investment opportunity. Opened in 1995 and renovated in 2017, this property boasts a long-term, successfully operating business, modern amenities, and a well-maintained exterior. This opportunity presents a compelling prospect for investors seeking a stable and lucrative venture
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
In Cooperation With Sands Investment Group, Inc - Lic. ##0226037527 BoR: Tom Gorman - Lic. VA #0225269275
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,100 SF
Building Class
B
Year Built/Renovated
1995/2017
Price
$5,683,226 CAD
Price Per SF
$931.68 CAD
Cap Rate
5%
NOI
$284,161 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.59 AC
Opportunity Zone
Yes
Zoning
PDC
Parking
60 Spaces (9.84 Spaces per 1,000 SF Leased)
Frontage
70’ on Plank Rd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Outback Steakhouse
- Accommodation and Food Services
- 6,100 SF
- $46.58 CAD
- Dec 2029
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Outback Steakhouse | Accommodation and Food Services | 6,100 SF | $46.58 CAD | Dec 2029 |
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7769-62-6979 | Improvements Assessment | $1,798,478 CAD |
| Land Assessment | $1,659,871 CAD | Total Assessment | $3,458,349 CAD |
Property Taxes
Parcel Number
7769-62-6979
Land Assessment
$1,659,871 CAD
Improvements Assessment
$1,798,478 CAD
Total Assessment
$3,458,349 CAD
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Outback - Fredericksburg, VA | 2941 Plank Rd
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