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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1006 Richmond Rd Williamsburg, VA 23185

    • Office Properties & Spaces
    • 4,184 SF
    • 0.80 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3183209
    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

    • USA Ghost Adventures / Tour Agency
    • Wells Fargo Bank / Bank / Atm
    • Wells Fargo ATM / Atm

    Property Details for 1006 Richmond Rd

    Year built
    1973
    Lot size
    0.80 lot acres
    Property size
    4,184 SF
    Zone code
    LB-2 (LIMITED BUSINESS NE
    Property type
    Office Properties & Spaces
    APN
    3012.343.196
    APU
    3012343196

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $979,000
      Market price range: $291k - $979k

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    Williamsburg City
    State
    Virginia
    Longitude
    -76.718
    Latitude
    37.2795
    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
    $10,201
    $819,200
    $826,100
    $1,645,300
    -
    $819,200
    $826,100
    $1,645,300

    Comparable in this City

    • Value Estimation
      $11,140,000
      53,014 SF

      301 1st St

      OFFICE (GENERAL) • 53,014 SF
      301 1st St, Williamsburg, VA 23185-4306
      View Details
    • Value Estimation
      $870,000
      3,511 SF

      410 Francis St

      OFFICE (GENERAL) • 3,511 SF
      410 Francis St, Williamsburg, VA 23185-4046
      View Details
    • Value Estimation by Request
      1,008 SF

      136 Professional Cir

      CONDOMINIUM OFFICES • 1,008 SF
      136 Professional Cir, Williamsburg, VA 23185-3374
      View Details
    • Value Estimation
      $4,155,000
      25,852 SF

      427 Franklin St

      OFFICE (GENERAL) • 25,852 SF
      427 Franklin St, Williamsburg, VA 23185-4304
      View Details
    • Value Estimation by Request
      406 SF

      809 Henry St

      OFFICE (GENERAL) • 406 SF
      809 Henry St, Williamsburg, VA 23185-3901
      View Details
    • Value Estimation
      $620,000
      3,990 SF

      1126 Professional Dr

      OFFICE (GENERAL) • 3,990 SF
      1126 Professional Dr, Williamsburg, VA 23185-3330
      View Details

    Similar Nearby for Sale

    • $727,260
      4,692 SF

      Williamsburg Medical Office Condo

      Move-in ready, vacant medical suites.
      475 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • $2,000,000
      77,750 SF

      +77750 SF Two Buildings on a 5.67-AC Campus

      +77750 SF Two Buildings on a 5.67-AC Campus
      4300 John Tyler Hwy, Williamsburg, VA 23185
      View Details
    • $387,500
      2,572 SF

      Move-in Ready Office Condo

      Well-appointed office condo available for purchase near I-64.
      461 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • $190,000
      1,200 SF

      End Unit Office Condominium

      1,200 SF office condominium with upgraded finishes for sale.
      337 Mclaws Cir, 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
    • $6,000,000
      42,900 SF

      Office Buildings For Sale

      Three office buildings totaling 42,900 square feet available for purchase.
      7505 Richmond Rd, Williamsburg, VA 23185
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,200 SF

      Renovated Office Suite in Williamsburg

      Recently renovated 1,200 SF office suite with four offices.
      1781 Jamestown Rd, Williamsburg, VA 23185
      View Details
    • $23 SF/Yr
      6,944 SF

      Medical Office Space Available

      Second-generation medical office space for lease in Williamsburg, VA.
      3901 Treyburn Dr, Williamsburg, VA 23185
      View Details
    • $12 SF/Yr
      1,693 SF

      Williamsburg Office Space For Rent

      Office space for rent near Colonial Williamsburg and William & Mary.
      1215 S Mount Vernon Ave, Williamsburg, VA 23185
      View Details
    • $19 SF/Yr
      7,500 SF

      Class A Office Space Available

      Premier office space in Busch Corporate Center, move-in ready.
      432 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • $18 SF/Yr
      1,160 SF

      Williamsburg Office Space For Lease

      Office spaces available in Williamsburg, ranging from 1,160 to 4,999 SF.
      460 Mclaws Cir, 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
    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.
    1006 Richmond 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
    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.