West Point Development
2870 King William Ave West Point, VA 23181
For Sale
$774,900
1.74 acres with high visibility and development potential.
Property Size2,800 SF
Lot Size1.74 Acres
Price / SF$276.75
Days on Market95
Property Features for 2870 King William Ave
General Information
Standard status
Active
Size
2,800 SF
Lot size
1.74 Acres
Property subtype
Commercial
Building Details
Year Built
1965
Listing Agency:
Dalton Realty
(757) 634-1761
Listed By:
Danielle Rosso
(757) 634-1761
Source:
Elliman
Added: Apr 26
Changed: Jul 10
Last Checked: Jul 29 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dalton Realty
Investment Insights
Based on property information with market context.
Located in West Point, this 1.74-acre property offers a development opportunity with MU-1 commercial and high-density R-3 zoning. The site features 697 feet of road frontage, including 167 feet on King William Ave, 110 feet on Lyndale St, and 420 feet on Moore St. The current zoning allows for retail stores, shops, offices, multi-family housing, apartments, hotels, and restaurants under MU-1, and multi-family housing, group homes, limited residential care facilities, and non-residential recreational, educational, cultural, and public service buildings under R-3. The property includes an existing 2,800-square-foot brick home, a carport, and a 624-square-foot detached garage with an attached 2-bedroom apartment. The cape cod-style home features hardwood floors, 4 bedrooms, 3 full bathrooms, an open concept, storage space, an enclosed sunroom, and a patio. The existing residential building could be used for on-site accommodation, medical office space, retail shops, or group/nursing home accommodation. Recent updates include a newer roof, dual-zone HVAC, and water heater. The property is located 45 minutes from Richmond and 20 minutes from Williamsburg, in a Blue Ribbon school district with a growing population and an expansive waterfront development project underway.
Key Highlights
- Prime 1.74‑acre property with MU‑1 Commercial and High‑Density R‑3 zoning
- Exceptional road frontage (697 feet total) on three streets, including high‑traffic King William Ave, ensuring high visibility
- Existing 2800 sqft brick home in excellent condition, suitable for various uses
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.2k | $22.20 |
| − Vacancy | −$6.2k | −$2.22 |
| EGI | $55.9k | $19.98 |
| − OpEx | −$21.0k | −$7.49 |
| NOI | $35.0k | $12.49 |
2,800 SF · lease $22.20/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$499.5K
$437.1K – $582.8K
NOI $34,965 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$646.9K
$566.0K – $754.7K
NOI $45,283 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial land - 1.74 acres with high visibility and development potential.
Where is this commercial land located?
The property is located at 2870 King William Ave West Point, VA.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: Prime 1.74‑acre property with MU‑1 Commercial and High‑Density R‑3 zoning; Exceptional road frontage (697 feet total) on three streets, including high‑traffic King William Ave, ensuring high visibility; Existing 2800 sqft brick home in excellent condition, suitable for various uses
