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Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Former Anne’s Grill property sold in Fredericksburg

1609 Princess Anne St.

The building that was the longtime home of the Anne’s Grill restaurant at 1609 Princess Anne St. in downtown Fredericksburg sold this week to a local man who plans to fix it up and attract a new restaurant and bar.

Ricky Armstead closed Thursday on the roughly 2,500-square-foot space for $180,000, according to city records. Armstead, who bought the building through an LLC, said it was the first investment property that he’s purchased. He plans to buy more.

He said he sees a lot of potential for the Princess Anne Street corridor, which many people use as the gateway into downtown off U.S. 1. He’d like to find a restaurant with a vibe akin to Home Team Grill and Firebirds.

David Gatewood with Avery-Hess Realtors brokered the sale. Armstead has hired Cushman & Wakefield | Thalhimer broker Shawn Carrington to find a tenant for the space.