The Shoppes at Courthouse Road

Marcus & Millichap is pleased to exclusively list for sale The Shoppes at Courthouse Road, located at 10813 Courthouse Road in Fredericksburg, Virginia. This retail center is 10,800 square feet situated on a 1.2-acre plot of land, located on a primary thoroughfare, Courthouse Road (40,869 VPD), connecting I-95 and Highway 1.

The center provides investors with a stabilized cash flow opportunity, with 100 percent occupancy, strong leases in place, and over 20 percent of the property occupied into the 2030s. Currently, the center achieves an average of $16.21 per square foot in base rents, resulting in a Year One 7.00 percent CAP rate, and a 7.10 percent total return after debt service and principal reduction, with current market financing terms.

The Shoppes at Courthouse Road is located centrally in Fredericksburg, immediately north of the site of the new Veterans clinic, currently under construction and slated to be complete in late 2023. Officially named Fredericksburg Health Care Center, the four-story clinic will become the nation’s largest Veterans clinic and is expected to serve more than 29,000 veterans annually. The center is also located within a mile of multiple regional and national retailers including Lowe’s, Walmart, 7-11, Domino’s Pizza, ALDI, Walgreens, CVS, Chick-fil-A, Big Lots, Ollie’s Bargain Outlet, McDonald’s, Taco Bell, and more.

The Shoppes at Courthouse Road is situated in between Highway 1 (28,225 VPD) connecting east Fredericksburg and I-95 (125,686 VPD) connecting Washington D.C. and Richmond. The center is also within a three-mile radius of 55,793 residents with an average household income of $104,754.