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

    7829 Richmond Rd Toano, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime commercial land parcel with high traffic counts.

    Type:LAND
    Lot size:
    1.54 Acres
    Added:
    Jan 24, 2023
    Days on Market:
    1191
    Last Refresh:
    Apr 5 at 10:31 pm

    Property Features for 7829 Richmond Rd

    General Information

    Standard status
    Active
    Lot size
    1.54 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    John Wilson

    Listing agent John Wilson

    Listing office CBC Brooks Real Estate

    Listing date Jan 24, 2023

    Source Moodyscre

    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 CBC Brooks Real Estate

    Overview

    Commercial Parcel in Toano, Virginia

    This prime commercial parcel is located in Toano, Virginia, on Richmond Road, adjacent to Toano Middle School. The property benefits from high traffic counts generated by the middle school and commuters traveling between Toano, Norge, Lightfoot, and Williamsburg.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Toano
    County
    James City
    State
    Virginia
    Longitude
    -76.802
    Latitude
    37.3779

    Nearby Similar for Sale

    • $699,900
      1,456 SF

      Toano Commercial Office Building For Sale

      Commercial office building with immediate rental potential in Toano, Virginia.
      102 Industrial Boulevard, Toano, VA 23168
      View Details
    • $825,000

      Toano, VA Buildable Acreage

      Approximately 11.3 acres of buildable land in Toano, VA.
      6875 Cranstons Mill Pond Road, Toano, VA 23168
      View Details
    • $825,000

      Toano Land for Sale

      12.25 acre land suitable for building or agriculture.
      2845 Chickahominy Road, Toano, VA 23168
      View Details
    • $179,900

      Toano, VA Land Opportunity

      3-acre lot in Toano, VA, awaiting your dream home.
      9028 Barnes Road, Toano, VA 23168
      View Details
    • $65,000

      Wooded Lot in Stonehouse

      1.06 acre wooded lot in Stonehouse neighborhood.
      9936 Walnut Creek, Toano, VA 23168
      View Details
    • $3,175,000
      26,494 SF

      Versatile Office/Warehouse Facility For Sale

      26,494 SF office/warehouse in James City County, minutes from Toano.
      8012 Hankins Industrial Park, Toano, VA, 23168
      View Details
    • $99,000

      Secluded Wooded Lot in Stonehouse

      3.12-acre lot with water views and community amenities.
      3352 Morning Mist Lane, Toano, VA 23168
      View Details
    • $699,900
      1,456 SF

      Toano Commercial Office Building

      Commercial office building in Toano with immediate rental potential.
      102 Industrial Blvd, Toano, VA 23168
      View Details
    • Contact for pricing

      Prime Land I-64 Frontage

      Land with significant frontage on I-64 and Route 30.
      9505 Old Stage Rd, Toano, VA
      View Details
    • $675,000

      Commercial Land with Interstate Frontage

      Land suitable for retail, office, or industrial uses.
      3500 LaGrange Pkwy, Toano, VA
      View Details
    • $2,999,000

      33 Acres Land For Sale

      Two parcels zoned for multiple uses near I-64.
      9690 Old Stage Rd, Toano, VA
      View Details

    FAQs

    What type of property is this?
    Land - Prime commercial land parcel with high traffic counts.
    Where is this land located?
    The property is located at 7829 Richmond Rd Toano, VA.
    What is the asking price?
    The asking price for this property is $539,000.
    What are key features of this property?
    This property features: Prime commercial parcel ready for your business.; High traffic location ensures excellent visibility.; Located on Richmond Road, a key thoroughfare.
    (757) 229-1507 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Wilson
    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!