1701 Carl D Silver Pkwy, Fredericksburg, VA 22401 For Sale

Rare 15% Bumps Every 5 Years

Originally set to expire in 2022, Tenant exercised its first of five renewal options, extending the lease through 2027. The lease currently has ±1.3 years of term remaining with 15% rent increases in the four remaining 5-year renewal options. Next option rent bump in November 2027 brings return up 60 basis points.

Strong Intrinsic Value with Upside

1.12 Acres on hard corner lit intersection. Below market rent!

Excellent Access & Visibility

The property is situated with excellent frontage at the signalized hard-corner intersection of Carl D. Silver Parkway and Cowan Boulevard (19,000 VPD) just 0.5 mile west of Interstate 95 (Traffic Count: 165,000 VPD) which connects Fredericksburg with Washington D.C. (55 miles north) and Richmond (58 miles south). This is arguably the best corner of Central Park as it is easily accessible to all of the retail uses as well as Cowan Boulevard which is a frequently used thoroughfare to avoid traffic in and out of town.

Central Park Advantage

Reflecting the sustained strength of the Fredericksburg retail market, Central Park has maintained a historic occupancy rate of over 95% for more than 15 years. Situated on a 2,400-acre site adjacent to the interchange of I-95 and Plank Road (Combined Traffic Count: 253,000 VPD), Central Park serves as a regional hub. As the largest power center on the East Coast, it is anchored by a diverse mix of national brands, including Target, Walmart Supercenter, Lowe’s Home Improvement, Kohl’s, Best Buy, Hobby Lobby, DSW and Burlington, along with the high-traffic Regal Cinemas. The center features over 200 merchants and 50 restaurants, providing a comprehensive shopping and dining environment. Recent office expansions and the proximity of three major hotels (Hampton Inn, Hilton Garden Inn, and Homewood Suites) contribute to a robust daytime population that fuels local commerce.