Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4940 Monticello Ave Williamsburg, VA 23188

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in the Marketplace Shopping District.

    Property size:
    4,800 SF
    Lot size:
    0.57 Acres

    Property Features for 4940 Monticello Ave

    General Information

    Size
    4,800 SF
    Lot size
    0.57 Acres

    We can help!

    Listing Contact
    Tyler Jacobson
    Tyler Jacobson
    Source: Moodyscre

    Listing Agency: S.L. Nusbaum Realty Co - Corporate Listing Agent: Tyler Jacobson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Marketplace District

    This retail space is located within the Marketplace Shopping District at the intersection of Route 199 and Monticello Avenue. The shopping district is anchored by Verizon, Mattress Firm, Sundays Blue Box Tanning, Tropical Smoothie, Moe’s Southwest Grill, Blown Away Salon, Longhorn Steakhouse, Wendy's, Goodyear, and Mobil. The location is adjacent to Petsmart, Belk, and Binn’s of Williamsburg. The property offers 4,800 square feet of retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mattress Firm Williamsburg Furniture & Home Goods WindsorMeade Market Place Shopping Center & Mall

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    New Town Commercial Association, Bonitas hair Studio, WindsorMeade Market Place, Settlers Market, Monticello Marketplace

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    Williamsburg
    State
    Virginia
    Longitude
    -76.7550942
    Latitude
    37.2720714

    Nearby Similar for Lease

    • $18 SF/Yr
      800 SF

      New Town Office Suites Available

      Professional office suites for lease in a prime location.
      5360 Discovery Park Blvd, Williamsburg, VA 23188
      View Details
    • $19 SF/Yr
      2,326 SF

      Class A Office Space Available

      Prominent office space for lease in Williamsburg, Virginia.
      428 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • $675 /Mo
      1,500 SF

      Executive Office Space Available

      Professional office space for lease in Williamsburg, all-inclusive rent.
      430 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • $23 SF/Yr
      768 SF

      Office Space in New Town

      Office space for rent in a vibrant commercial area.
      4808 Courthouse St, Williamsburg, VA 23188
      View Details
    • $24 SF/Yr
      2,659 SF

      Office Space with Private Balcony

      Professional office space with abundant parking and outdoor balcony.
      5400 Discovery Park Blvd, Williamsburg, VA 23188
      View Details
    • $14 SF/Yr
      8,450 SF

      Retail Space in Williamsburg, VA

      Retail space available for lease in Williamsburg, Virginia.
      4511 John Tyler Hwy, Williamsburg, VA 23185
      View Details
    • Contact for pricing
      2,000 SF

      Professional Office Space For Rent

      First floor office space with utilities included, near New Town.
      500 Strawberry Plains Rd, Williamsburg, VA 23188
      View Details
    • $19 SF/Yr
      7,500 SF

      Class A Office Space Available

      Premier office space in Busch Corporate Center, move-in ready.
      432 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • Contact for pricing

      Dominant Shopping Center in Williamsburg

      Premier retail spaces available in Settler's Market.
      5020 Settlers Market Blvd, Williamsburg, VA 23188
      View Details
    • Contact for pricing

      Renovated Shopping Center in Williamsburg

      Newly renovated shopping center with spaces available in Williamsburg, VA.
      118 Waller Mill Rd, Williamsburg, VA 23185
      View Details
    • Contact for pricing
      3,300 SF

      Renovated Retail/Office Space Available

      Newly renovated retail/office space near William & Mary campus.
      1012 Richmond Rd, Williamsburg, VA 23185
      View Details
    • Contact for pricing

      Retail Space in Williamsburg Center

      Retail space available in shopping center anchored by Harris Teeter.
      1470 Quarterpath Rd, Williamsburg, VA 23185
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in the Marketplace Shopping District.
    Where is this shopping center located?
    The property is located at 4940 Monticello Ave Williamsburg, VA.
    What are key features of this property?
    This property features: - Part of the Marketplace Shopping District at route 199 and Monticello Avenue; - Anchored by major retailers and restaurants like Verizon and Longhorn Steakhouse; - Adjacent to Petsmart and Belk
    (757) 627-8611 Call to check price and availability
    Request Owner's contact information
    4940 Monticello Ave Williamsburg, VA 23188
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4940 Monticello Ave
    Williamsburg, VA 23188
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4940 Monticello Ave Williamsburg, VA 23188
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tyler Jacobson
    Tyler Jacobson
    (757) 627-8611 (757) 640-5435
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!