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    8901 George Washington Memorial Hwy Newport News, VA 23690

    • Land
    • 1.24 lot acres
    For Sale
    View listing
    $685,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 8901 George Washington Memorial Hwy

    Lot size
    1.24 lot acres
    Property type
    Land

    Description

    This exceptional commercial land parcel, encompassing 1.24 to 2.7 acres, presents a remarkable investment opportunity in Yorktown, Virginia. Located at 8901 and 9009 George Washington Memorial Highway (Route 17), this property boasts an impressive 850 feet of frontage, ensuring unparalleled visibility for any commercial venture. The site benefits from a highly visible intersection at a median break, maximizing exposure to a substantial daily traffic volume. All utilities are readily available on-site, simplifying development and reducing upfront costs. The property is zoned LB (Limited Business), offering flexibility for a range of commercial uses. The asking price is $685,000, translating to a land value of $3.99 per square foot. Its strategic location across from York High School and a new senior community provides a strong demographic base and significant potential for sustained growth. This prime location offers exceptional accessibility and visibility, making it an ideal site for businesses seeking high-traffic exposure in a thriving community. The substantial lot size allows for ample development possibilities, catering to a variety of commercial needs. Don't miss this chance to acquire a highly desirable commercial property in a rapidly developing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    York
    State
    Virginia
    Longitude
    -76.5373
    Latitude
    37.2173

    Comparable in this City

    • Value Estimation by Request
      0.81 Acres

      8830 George Washington Memorial Hwy

      Land • 0.81 Acres
      8830 George Washington Memorial Hwy, Yorktown, VA 23690
      View Details
    • Value Estimation by Request
      2.16 Acres

      1924 Old Williamsburg Rd

      COMMERCIAL (GENERAL) • 2.16 Acres
      1924 Old Williamsburg Rd, Yorktown, VA 23690-3913
      View Details
    • Value Estimation
      $580,000
      3,430 SF

      301 Ballard St

      COMMERCIAL (GENERAL) • 3,430 SF
      301 Ballard St, Yorktown, VA 23690-4001
      View Details
    • Value Estimation by Request
      1,170 SF

      2028 Old Williamsburg Rd

      COMMERCIAL (GENERAL) • 1,170 SF
      2028 Old Williamsburg Rd, Yorktown, VA 23690-3849
      View Details
    • Value Estimation by Request
      0.53 Acres

      315 Water St

      COMMERCIAL (GENERAL) • 0.53 Acres
      315 Water St, Yorktown, VA 23690-2200
      View Details
    • Value Estimation by Request
      0.84 Acres

      1942 Old Williamsburg Rd

      VACANT COMMERCIAL LAND • 0.84 Acres
      1942 Old Williamsburg Rd, Yorktown, VA 23690-3913
      View Details

    Similar Nearby for Sale

    • $185,000
      0.81 Acres

      Prime Yorktown Commercial Land

      0.81-acre lot, high visibility
      8830 George Washington Memorial Hwy, Yorktown, VA 23690
      View Details
    • $685,000
      1.24 Acres

      Prime Yorktown Commercial Land

      1.24-2.7 Acres, High Visibility
      8901 George Washington Memorial Hwy, Newport News, VA 23690
      View Details
    • $525,000
      3.31 Acres

      Yorktown Commercial Land For Sale

      Corner lot with high visibility near Colonial National Historical Park.
      9301 George Washington Memorial Hwy, Yorktown, VA 23690
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,200 SF

      Yorktown Retail Space Available

      Retail space for lease in Yorktown, Virginia.
      2200-2210 Old Williamsburg Rd, Yorktown, VA 23690
      View Details
    • $13 SF/Yr
      1,200 SF

      Yorktown Salon & Spa Business

      Turnkey retail space, prime location.
      2210 Old Williamsburg Rd, Yorktown, VA 23690
      View Details
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    8901 George Washington Memorial Hwy
    Newport News, VA 23690
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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.

    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
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