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    4392 Rochambeau Dr Williamsburg, VA 23188

    Sponsored
    For Sale
    $600,000

    Prime Commercial Land, High-Growth Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 4.16-acre commercial lot is strategically located at the intersection of Rochambeau Drive and Croaker Road in Williamsburg, Virginia (zip code 23188). The property boasts 300 linear feet of frontage on Rochambeau Drive and 735 feet on Croaker Road, offering excellent visibility and accessibility. Currently featuring two farmhouses and outbuildings, the land is zoned A-1 and designated for Commercial Development within the James City County Comprehensive Plan. Its location directly off Interstate 64 provides unparalleled convenience and exposure. The property is situated within the Primary Service Area (PSA) of James City County, ensuring readily available public water and sewer services. The level lot presents a unique opportunity for a variety of commercial ventures. Permitted uses, as outlined in the James City County Economic Opportunity (EO) zoning, include, but are not limited to: convenience stores, gas stations, group homes, greenhouses/nurseries, hotels/motels, farmer's markets, lumber and building supply storage, restaurants and taverns, retail food stores, wineries, and veterinary hospitals. Many additional uses are permitted, and others may be considered with a Special Use Permit. This property represents a significant investment opportunity in a rapidly developing area of James City County, capitalizing on the Croaker corridor's strategic location, zoning, and proximity to I-64. The Lightfoot corridor being fully developed, this location offers a prime opportunity for commercial development and investment.

    Property Features for 4392 Rochambeau Dr

    General Information

    Property type
    Land
    Lot Size
    181,210 SF

    HighLights

    • 4.16‑acre commercial lot in Williamsburg, VA (23188), at Rochambeau & Croaker Roads.
    • Excellent visibility with 300' frontage on Rochambeau Drive and 735' on Croaker Road.
    • A‑1 zoning, designated for commercial development in James City County; public water & sewer available.
    • Level lot, I‑64 access, suitable for various commercial uses including retail, restaurants, and hotels (full list available).
    • Prime investment opportunity in a rapidly developing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    James City
    State
    Virginia
    Longitude
    -76.7651948
    Latitude
    37.3817327

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land, High-Growth Area
    Where is this land located?
    The property is located at 4392 Rochambeau Dr Williamsburg, VA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 4.16-acre commercial lot in Williamsburg, VA (23188), at Rochambeau & Croaker Roads.; Excellent visibility with 300' frontage on Rochambeau Drive and 735' on Croaker Road.; A-1 zoning, designated for commercial development in James City County; public water & sewer available.
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    4392 Rochambeau Dr Williamsburg, VA 23188
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    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.

    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
    4392 Rochambeau Dr Williamsburg, VA 23188
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