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

    1341 Penniman Road Williamsburg, VA 23185

    View on Map
    Claim this Listing
    Picture of Land at 1341 Penniman Road, Williamsburg, VA
    Pending
    $120,000

    LAND - Williamsburg, VA

    Lot size:
    2.29 Acres
    Added:
    Sep 5, 2023
    Days on Market:
    968
    Last Refresh:
    Apr 29 at 8:06 am

    Property Features for 1341 Penniman Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    G13D-4456-2447
    Lot size
    2.29 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    BYRD JUNIUS ESTATE REMAINDER
    Tax Annual Amount
    112

    Utilities

    Sewer type
    Public Sewer, Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Elizabeth Walthall

    Listing agent Elizabeth Walthall

    Listing office Long & Foster Real Estate 5234 Monticello Ave, Suite 110, Williamsburg, VA

    Listing date Sep 5, 2023

    MLS# 2416275 Listing URL

    Copyright © 2026 Chesapeake Bay & Rivers Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land in Upper York County

    This property features 2.29 acres of land located in the Bruton District of Upper York County. Situated next to a newer subdivision, the lot offers the benefits of low York County taxes combined with the Williamsburg lifestyle.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    Williamsburg
    State
    Virginia
    Longitude
    -76.656316
    Latitude
    37.257191

    Nearby Similar for Sale

    • $490,000

      Wooded Acreage Near Waller Mill Reservoir

      6.76 acres near Waller Mill Reservoir, ideal for custom home.
      525 Waller Mill Road, Williamsburg, VA 23185
      View Details
    • $490,000

      Wooded Acreage Near Waller Mill Reservoir

      6.76 acres near Waller Mill Reservoir in Williamsburg, Virginia.
      525 Waller Mill Road, Williamsburg, VA 23185
      View Details
    • $395,000

      Residential Lot in Vineyards

      Residential land in a sought-after Williamsburg neighborhood.
      2412 Reserve Drive, Williamsburg, VA 23185
      View Details
    • $279,900

      Cleared Land Parcel in Williamsburg

      3.184-acre cleared parcel ready for building in James City County.
      5294 Riverview Road, Williamsburg, VA 23188
      View Details
    • $439,900

      Eaglescliffe Corner Lot Opportunity

      Exceptional corner lot with panoramic views in Ford’s Colony.
      104 Freshwater Bay, Williamsburg, VA 23188
      View Details
    • $757,000

      Waterfront Acres in Williamsburg, VA

      20.08 acres overlooking Powhatan Creek, near Williamsburg.
      127 Constance Avenue lot: 5, Williamsburg, VA 23185
      View Details
    • $439,900

      Exceptional Corner Lot in Williamsburg

      Rare homesite with panoramic views in Ford's Colony.
      104 Freshwater Bay lot: 32, Williamsburg, VA 23188-3512
      View Details
    • $595,000

      Rare Corner Lot in Williamsburg

      1.17 acre corner lot in Ford’s Colony, Williamsburg, VA.
      201 Hurlston, Williamsburg, VA 23188
      View Details
    • $95,000

      Land in Established Williamsburg Community

      Homesite in Wellington Estates, build your dream home!
      3939 Guildford Lane, Williamsburg, VA 23188
      View Details
    • $1,500,000

      Williamsburg Industrial Land For Sale

      19.62 acre industrial land parcel in Williamsburg, Virginia.
      720 Blow Flats Rd, Williamsburg, VA 23185
      View Details
    • $215,000

      Wooded Acres in Williamsburg, VA

      Six acres of wooded land near Route 199.
      5009 JOHN TYLER Highway, Williamsburg, VA 23185
      View Details
    • $115,000

      Residential Land in Ford's Colony

      Private homesite in gated community with resort-style amenities.
      227 St Cuthbert, Williamsburg, VA 23188
      View Details

    FAQs

    What type of property is this?
    Land - 2.29 acres of land in Williamsburg, Virginia.
    Where is this land located?
    The property is located at 1341 Penniman Road Williamsburg, VA.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: 2.29 acre lot in Upper York County; Located in the Bruton District; Low York County taxes
    (757) 784-7516
    We can help!
    Listing Contact
    Elizabeth Walthall
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!