Leeland Station, Fredericksburg, Virginia.....Anyone seen this developement???

Just wondering if we have anyone here close to Leeland Station in Fredericksburg Virginia. It’s an unfinished housing development that just sold in bankruptcy court for $11 Million. The unfinished development consists of 415 approved building lots which consist of single family, multi’s, and commercial property.

The buyer ended up with 415 approved lots (some commercial, some residential) for LESS than $30K EACH…From looking at some online neighborhood data, the average value of a single family home in Leeland Station was $271K


Is $30K SHORT MONEY for an approved LOT in this area or did they pay TOP DOLLAR???

It LOOKS like this was a STEAL of a deal…BUT I always like to have someone with REAL WORLD, boots on the ground knowledge.

Any insight from someone that knows this area would be helpful.

I’m working on something here that I will share with everyone as I work through the research.


If you are looking for ballpark value figures, you might want to look up www.BraunCo.com. Braun is a huge auction broker that deals with mega-parcels all over the US. If you want to buy a 200-unit motel in Tennessee or California at a foreclosure price they are the contact. They appear to have expert appraisers.

Somehow they put me on their mailing list. You might find a comp. Good luck.