Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    406 Bypass Rd Williamsburg, VA 23185

    Sponsored
    For Sale
    $585,000

    1.92 Acres, High-Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This 1.92-acre commercial land parcel in Williamsburg, Virginia, presents a remarkable investment opportunity. Strategically located on Bypass Road, a major thoroughfare for tourists, commuters, and locals, this property boasts a General Business (GB) zoning designation. This allows for a wide array of commercial uses, including retail, restaurants, shopping centers, professional services, and automotive businesses. The high-traffic location benefits from over 28,000 vehicles daily, placing your business within easy reach of a substantial customer base. The area is densely populated with tourism-related businesses, including over 1,500 hotel/motel rooms and over 1,000 timeshare units within a one-mile radius. Proximity to Colonial Williamsburg, the College of William & Mary, and Interstate 64 ensures exceptional visibility and accessibility. The property is situated between a 7-Eleven and a Country Inn & Suites, further enhancing its prime location. Note that three residential buildings are currently on the lot. Cash offers are preferred. This is an exceptional chance to capitalize on the thriving Williamsburg tourism market and its strong local economy, attracting millions of visitors annually to nearby attractions such as Colonial Williamsburg, Jamestown, Yorktown, Busch Gardens, and Water Country USA. The property's location on Bypass Road, one of Williamsburg's primary commercial corridors, guarantees significant exposure and potential for substantial returns.

    Property Features for 406 Bypass Rd

    General Information

    Property type
    Land
    Lot Size
    83,635 SF

    We can help!

    Listing Contact
    John Wilson

    Learn more

    Property Insight Report

    HighLights

    • $585,000 asking price for 1.92 acres of commercial land.
    • Located in Williamsburg, VA, at 406 Bypass Rd, York County, zip code 23185.
    • General Business (GB) zoning allows for a wide range of commercial uses, including retail, restaurants, and professional services.
    • High traffic location on Bypass Road, a major tourist and commuter corridor, with proximity to Colonial Williamsburg, College of William & Mary, and I‑64.
    • Features three existing residential buildings on the site.
    • Cash offers only.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop 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
    York
    State
    Virginia
    Longitude
    -76.7113
    Latitude
    37.28373

    Nearby Similar for Sale

    • New
      $430,000
      Pending

      Spacious Farmhouse in Williamsburg

      Charming 4-bedroom farmhouse with large, private backyard.
      400 Tam O Shanter Blvd, Williamsburg, VA 23185
      View Details
    • $299,000
      2.90 Acres

      Waterfront Land in Williamsburg, Virginia

      2.9 acres with 116 feet of waterfront shoreline.
      339 Neck O Land Rd, Williamsburg, VA 23185
      View Details
    • $4,733,100
      1,060 SF

      Modern Office Building in Williamsburg

      Leased Class A office building in desirable New Town.
      5425 Discovery Park Blvd, Williamsburg, VA 23188
      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
    • $182,500
      1,071 SF

      Governors Square Condo with Updates

      Three-bedroom condo in Governors Square with recent updates and balcony.
      4003 Governors Sq, Williamsburg, VA 23188
      View Details
    • $1,860,000
      10 SF

      Prime Williamsburg Location For Sale

      Thriving business environment in the heart of Williamsburg, Virginia.
      4403 Ironbound Rd, Williamsburg, VA 23188
      View Details
    • $2,100,000
      6,100 SF

      Restaurant Parcel on Richmond Road

      Second-generation restaurant parcel near Williamsburg Premium Outlet Mall.
      5509 Richmond Rd, Williamsburg, VA 23188
      View Details
    • $750,000
      4,800 SF

      Prime Williamsburg Commercial Building For Sale

      4,800 SF commercial building in prime Williamsburg location.
      100 Waller Mill Rd, Williamsburg, VA 23185
      View Details
    • 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

      Retail Space with Redevelopment Underway

      Retail spaces available in a shopping center undergoing renovation.
      1008 Mooretown 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
    • $265,000
      2,188 SF

      Williamsburg Office Condos For Sale

      Two office condos in Williamsburg, Virginia, near New Town.
      156 Strawberry Plains Rd, Williamsburg, VA 23188
      View Details

    FAQs

    What type of property is this?
    Land - 1.92 Acres, High-Traffic Location
    Where is this land located?
    The property is located at 406 Bypass Rd Williamsburg, VA.
    What is the asking price?
    The asking price for this property is $585,000.
    What are key features of this property?
    This property features: $585,000 asking price for 1.92 acres of commercial land.; Located in Williamsburg, VA, at 406 Bypass Rd, York County, zip code 23185.; General Business (GB) zoning allows for a wide range of commercial uses, including retail, restaurants, and professional services.
    Request Owner's contact information
    406 Bypass Rd Williamsburg, VA 23185
    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.
    406 Bypass Rd
    Williamsburg, VA 23185
    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
    406 Bypass Rd Williamsburg, VA 23185
    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

    We can help!
    Listing Contact
    John Wilson
    Real Estate License ID: VA
    Learn more
    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.