Shopping Strip

Tractor Supply & Aldi Anchored Center

4173-4179 Plank Rd, Fredericksburg, VA 22407

Listing Price: $12,075,000

Cap Rate
7.00%
Gross SF
102,348
Rentable SF
102,348
Price/Gross SF
$117.98
Lot Size
10.00 acres
Year Built
2006

Investment Overview

The subject property is a 102,000 square foot retail center anchored by Tractor Supply Company and an Aldi grocery store. The property has two points of ingress/egress along Plank Road, both of which are signalized intersections. The center provides two very strong anchor tenants. Tractor Supply Company operates over 1,900 locations nationwide and has nine years remaining on their lease with one five-year option remaining. Tractor Supply reported a 31% increase in year-over-year sales for Q3 2020 and was just upgraded to investment grade credit. Aldi operates over 1,400 locations and recently executed an option extending their lease five years with three five-year options remaining. The third tenant, Paragon Gymnastics, has seven years remaining on their lease with two five-year options remaining. All leases are NNN with minimal landlord responsibilities. The property benefits from a very strong retail corridor along Plank Road, which provides exposure to over 59,000 vehicles daily. The property is part of the Chancellor Shopping Center, which also houses CVS, AutoZone, Food Lion, PNC Bank, HobbyTown USA, and a variety of smaller tenants. Other Immediate retailers include Anytime Fitness, 7-Eleven, Wells Fargo, Advance Auto Parts, Rite Aid, BJ’s Wholesale, Bed Bath & Beyond, Kmart, Taco Bell, Dunkin Donuts, Starbucks, Red Lobster, Michaels, Home Goods, Lowe’s, Pet Smart, Best Buy, Office Depot, Target, and many others. The surrounding area shows strong demographics with a population over 115,000 and an average household income of over $103,000 in a five mile radius.

Investment Highlights

  • 100% Occupied Shopping Center
  • Minimal Landlord Responsibilities
  • Central Location on Plank Road (Route 3) - ADT: 59,000

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Shopping Strip

Tractor Supply & Aldi Anchored Center

Listing Price: $12,075,000

Cap Rate
7.00%
Gross SF
102,348
Rentable SF
102,348
Price/Gross SF
$117.98
Lot Size
10.00 acres
Year Built
2006

Investment Highlights

  • 100% Occupied Shopping Center
  • Minimal Landlord Responsibilities
  • Central Location on Plank Road (Route 3) - ADT: 59,000

Investment Overview

The subject property is a 102,000 square foot retail center anchored by Tractor Supply Company and an Aldi grocery store. The property has two points of ingress/egress along Plank Road, both of which are signalized intersections. The center provides two very strong anchor tenants. Tractor Supply Company operates over 1,900 locations nationwide and has nine years remaining on their lease with one five-year option remaining. Tractor Supply reported a 31% increase in year-over-year sales for Q3 2020 and was just upgraded to investment grade credit. Aldi operates over 1,400 locations and recently executed an option extending their lease five years with three five-year options remaining. The third tenant, Paragon Gymnastics, has seven years remaining on their lease with two five-year options remaining. All leases are NNN with minimal landlord responsibilities. The property benefits from a very strong retail corridor along Plank Road, which provides exposure to over 59,000 vehicles daily. The property is part of the Chancellor Shopping Center, which also houses CVS, AutoZone, Food Lion, PNC Bank, HobbyTown USA, and a variety of smaller tenants. Other Immediate retailers include Anytime Fitness, 7-Eleven, Wells Fargo, Advance Auto Parts, Rite Aid, BJ’s Wholesale, Bed Bath & Beyond, Kmart, Taco Bell, Dunkin Donuts, Starbucks, Red Lobster, Michaels, Home Goods, Lowe’s, Pet Smart, Best Buy, Office Depot, Target, and many others. The surrounding area shows strong demographics with a population over 115,000 and an average household income of over $103,000 in a five mile radius.

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

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