Your email has been sent.
Target Shadow Center 27 S Gateway Dr 40,617 SF 100% Leased Retail Building Fredericksburg, VA 22406 $9,230,000 ($227.24/SF) 8% Cap Rate



EXECUTIVE SUMMARY
• Institutional-quality 40,617 SF destination retail center shadow-anchored by a recently renovated Super Target (Target owns its parcel) with direct visibility along I-95
• Premier I-95 interchange location delivering massive exposure, dual pylon signage to 133,000+ VPD and dominant positioning on one o f America’s busiest interstate corridors
• Delivering strong in-place cash flow with durable national/destination tenancy and significant embedded upside through below-market rolls
NATIONAL TENANT ANCHOR | SYNERGISTIC TENANT MIX
• Anchored by PetSmart with significant grooming/training/services revenue stream – whispered to be one of the strongest volume stores in the mid-Atlantic region
• Premier tenant lineup of e-commerce-resistant, destination-driven operators: Anytime Fitness (high-membership location), Polaris Dance Studio, Valley Dental – all seasoned performers with proven track records and zero dark periods
• 100% occupied with a blend of local, franchisee, investment-grade, and national credit providing immediate stability and lender comfort
• PetSmart has verbally indicated in the past that they would never leave – simply to control this market and keep competitors like Petco out
SIGNIFICANT MARK-TO-MARKET UPSIDE | 38% OF GLA ROLLS IN NEXT 5 YEARS – ZERO REMAINING OPTIONS
• 38% of current GLA expires within the next 5 years with no remaining tenant options – delivering immediate rent reset opportunity to current market levels
• Overall in-place rents ~18–22% below current market asking
• Limited new retail supply + explosive submarket demand + 2.3% vacancy = substantial embedded NOI growth through renewals and re-leasing at today’s rates
• Proforma NOI increases 28%+ over hold period through contractual bumps and mark-to-market execution
INVESTMENT HIGHLIGHTS UNMATCHED I-95 VISIBILITY & ACCESS MIDWAY BETWEEN D.C. & RICHMOND
• Dominant signalized corner at South Gateway Drive & Route 17 with superior ingress/egress, massive parking field, and institutional curb appeal – the #1 retail node in the entire Fredericksburg market
• Positioned in the heart of the I-95 growth corridor benefiting from Northern Virginia spillover, data center boom, Quantico Marine Base expansion, and ongoing interstate widening/improvements
• Direct frontage and signage to the heaviest-trafficked retail corridor between D.C. and Richmond – irreplaceable real estate with zero competing shadow centers
AFFLUENT, EXPLOSIVE GROWTH SUBMARKET NORTHERN VIRGINIA EXTENSION
• $127,286 average household income in the primary trade area | 20%+ income growth in past 5 years | 58% population growth since 2000
• One of Virginia’s fastest-growing markets with retail vacancy at just 2.3% (Cushman & Wakefield Q3 2025 Report) – virtually no new supply and insatiable tenant demand from national credits
• Immediate proximity to Celebrate Virginia South, Central Park power center, and Spotsylvania Towne Centre – the dominant retail confluence for the entire I-95 corridor south of D.C.
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
Dining in Aladin’s Mediterranean Bar & Grill is a social event. Meals are eaten family style, shared amongst friends. This practice is embedded in the culture of the entire region, a part of daily life, an act of hospitality inherited from the many cultures who contributed to the dynamic lifestyle of the Lebanese people. Traditionally, friends and family would partake in a meal of different meats, grilled to perfection and accompanied by many small plates, or mezza. While this food culture predates the concept of restaurant, we also understand that sometimes you and your guest may want different things. So of course, we offer the option of dining in this traditional style or “a la carte”.
From humble beginnings in a Minnesota small town to many locations on all continents, relentless innovation made Anytime Fitness a household name and industry phenomena. With over 20 years of category experience, they are still growing strong and using their history to help Franchise Owners create the future they’ve always wanted. The Anytime Fitness franchise opportunity combines over 20 years of category experience with ongoing innovation and outstanding support. Create a strong financial future when people partner with them to build a business and bring wellness to the community. People will never be alone on an Anytime Fitness franchise journey — they are with people every step of the way. People will start with a week of initial training at their headquarters in Woodbury, Minnesota, then get access to an extensive library of materials for ongoing learning at their own pace.
- Gateway Smiles Dental Care
- Health Care and Social Assistance
- -
- -
- -
- -
- Marib Restaurant
- -
- -
- $19.75
- Triple Net
- Dec 2028
- Paris Nails
- Services
- -
- -
- -
- -
PetSmart is the leading pet retailer offering products, services and solutions for the lifetime needs of pets. At PetSmart, they love pets, and they believe pets make them better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so together they can live more fulfilled lives. This vision impacts everything they do for their customers, the way they support their associates and how they give back to their communities. PetSmart operates pet stores in the United States, Canada and Puerto Rico, as well as in-store PetSmart PetsHotel® dog and cat boarding facilities. They provide a broad range of competitively priced pet food and products as well as services such as dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp™ and pet adoption.
Our Story Polaris Dance Institute navigates the future of dance… The name “Polaris” refers to the star commonly known as the “North Star” or the “Pole Star”. For centuries, it has been used as a vital navigation tool for travelers on both land and sea. Polaris never changes its position in the sky; it is a symbol of stability, reliability, honesty, and commitment. It is our goal to stay true to these principles in every class, rehearsal, and interaction with the community. We have combined our expertise in dance, teaching, and business management to provide the best possible experience for dancers and parents. We provide the highest quality technique, innovative choreography, and supportive atmosphere. Our goal is to create the best dance school in the country, providing the community with a place for art, athleticism, and expression to flourish. Sign up for our newsletter and follow us on social media for updates about registration, classes, seminars, and open house nights com
- Tobacco Junction
- -
- -
- $18.00
- Triple Net
- Aug 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
Accommodation and Food Services | - | - | Triple Net | - | |
|
Arts, Entertainment, and Recreation | - | - | - | - | |
| Gateway Smiles Dental Care | Health Care and Social Assistance | - | - | - | - | |
| Marib Restaurant | - | - | $19.75 | Triple Net | Dec 2028 | |
| Paris Nails | Services | - | - | - | - | |
|
Retailer | - | $20.50 | Triple Net | Feb 2018 | |
|
Educational Services | - | - | - | - | |
| Tobacco Junction | - | - | $18.00 | Triple Net | Aug 2034 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 45T-4 | Improvements Assessment | $4,176,000 |
| Land Assessment | $2,391,800 | Total Assessment | $6,567,800 |
PROPERTY TAXES
Presented by
Target Shadow Center | 27 S Gateway Dr
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.

