Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2200 Richmond Rd Williamsburg, VA 23185-2755

    • Retail space
    • 45,628 SF
    • 6.63 lot acres
    OFF-MARKET
    Last Sale
    Mar 30, 2023
    $4,000,000
    Value Estimations
    $6,035,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2854082
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Uptown Alley Williamsburg / Bowling Alley / Bar

    Property Details for 2200 Richmond Rd

    Year built
    2005
    Lot size
    6.63 lot acres
    Property size
    45,628 SF
    Zone code
    B-2 (CORRIDOR BUSINESS)
    Property type
    Retail space
    APN
    3809.158.045
    APU
    3809158045

    Description

    This exceptional free-standing retail property, located at 2200 Richmond Rd in Williamsburg, Virginia, presents a significant investment opportunity. The building, constructed in 2005, boasts a substantial 64,908 square feet of space situated on a generous 6.63-acre lot. The property is zoned B-2 and features a two-story structure with ample parking for 186 vehicles. Elevators are available for convenient access to both floors. Currently configured for multiple tenants, there are two available spaces ranging from 23,269 to 41,639 square feet, offering flexibility for various retail concepts. The property's prominent location in Williamsburg, VA, 23185, provides excellent visibility and accessibility. Its history as a former Yankee Candle factory adds a unique character and potential for adaptive reuse. The expansive lot size offers significant potential for future expansion or development. This is a rare opportunity to acquire a large, well-located retail property in a thriving market. The property's size, amenities, and location make it an ideal choice for a variety of retail businesses seeking a high-profile presence in Williamsburg. The ample parking ensures convenient access for customers and employees. The property's zoning allows for a wide range of retail uses, providing flexibility for potential buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,035,000
      ML approach
      $4,770,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    Williamsburg City
    State
    Virginia
    Longitude
    -76.7283
    Latitude
    37.3026
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $34,494
    $2,400,100
    $3,163,500
    $5,563,600
    -
    $2,400,100
    $3,163,500
    $5,563,600

    Comparable in this City

    • Value Estimation
      $1,010,000
      40,664 SF

      435 Duke Of Gloucester St

      RETAIL STORES (PERSONAL SERVICES) • 40,664 SF
      435 Duke Of Gloucester St, Williamsburg, VA 23185-3602
      View Details
    • Value Estimation
      $345,000
      8,202 SF

      403 Duke Of Gloucester St

      RETAIL STORES (PERSONAL SERVICES) • 8,202 SF
      403 Duke Of Gloucester St, Williamsburg, VA 23185-3602
      View Details
    • Value Estimation
      $605,000
      15,829 SF

      400 Duke Of Gloucester St

      RETAIL STORES (PERSONAL SERVICES) • 15,829 SF
      400 Duke Of Gloucester St, Williamsburg, VA 23185-3603
      View Details
    • Value Estimation
      $275,000
      7,525 SF

      305 England St

      RETAIL STORES (PERSONAL SERVICES) • 7,525 SF
      305 England St, Williamsburg, VA 23185-4266
      View Details
    • Value Estimation
      $375,000
      9,587 SF

      1735 Richmond Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,587 SF
      1735 Richmond Rd, Williamsburg, VA 23185-2725
      View Details
    • Value Estimation
      $330,000
      7,100 SF

      440 Merrimac Trl

      RETAIL STORES (PERSONAL SERVICES) • 7,100 SF
      440 Merrimac Trl, Williamsburg, VA 23185-4869
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,640 SF

      Retail Space Near I-64

      Retail spaces available near I-64 and Richmond Rd (Route 60).
      118-120 Waller Mill Rd, Williamsburg, VA 23185
      View Details
    • Contact for pricing
      1,560 SF

      Retail Space with Redevelopment Underway

      Retail spaces available in renovated shopping center near I-64.
      122-124 Waller Mill Rd, Williamsburg, VA 23185
      View Details
    • $1,200,000
      4,668 SF

      Highly Visible Retail/Office Space

      Central location with private parking and monument signage.
      230 Monticello Ave, Williamsburg, VA 23185
      View Details
    • $800,016
      2,390 SF

      Williamsburg Gas Station NNN Lease

      Stable cash flow asset with zero landlord responsibilities.
      395 Second St, Williamsburg, VA 23185
      View Details
    • Contact for pricing

      Retail Space with Redevelopment Underway

      Retail spaces available in a shopping center undergoing renovation.
      1008 Mooretown Rd, Williamsburg, VA 23185
      View Details
    • $850,000
      1.15 Acres

      Williamsburg Retail Land - $850K

      Prime 1.15-acre retail lot, high traffic area.
      817 Merrimac Trl, Williamsburg, VA 23185
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      4,412 SF

      Retail Buildings in Williamsburg

      Two well-maintained retail buildings available for lease in Williamsburg.
      312 Second St, Williamsburg, VA 23185
      View Details
    • $16 SF/Yr
      1,209 SF

      Retail Space Near Kingsmill Resort

      Retail space located near residential and resort area.
      240 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • Contact for pricing
      9,375 SF

      Retail Space with Dock Loading

      9,375 SF retail space with dock loading and signage.
      457-473 Merrimac Trl, Williamsburg, VA 23185
      View Details
    • Contact for pricing
      1,545 SF

      Retail/Office Space with Drive-Thru

      Renovated retail/office space with drive-thru, near William & Mary.
      1006 Richmond Rd, Williamsburg, VA 23185
      View Details
    • $12 SF/Yr
      1,135 SF

      Retail Space in Neighborhood Center

      Retail space suitable for salon, services, or medical use.
      113 Palace Ln, Williamsburg, VA 23185
      View Details
    • $28 SF/Yr
      1,870 SF

      Retail Center Anchored by Harris Teeter

      86,000 SF retail center with diverse tenant mix.
      14802 Quarterpath Rd, Williamsburg, VA 23185
      View Details
    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.
    2200 Richmond Rd
    Williamsburg, VA 23185-2755
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.