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    Property profile & analytics

    105 Byp Rd Williamsburg, VA 23185-2918

    • Drive through restaurants
    • 932 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2022
    $930,000
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0804337
    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

    • SnoMania Island / Dessert Shop / Ice Cream Shop

    Property Details for 105 Byp Rd

    Year built
    2001
    Lot size
    1.21 lot acres
    Property size
    932 SF
    Zone code
    GENERAL BUSINESS
    Property type
    Drive through restaurants
    APN
    D15A-1212-2706
    APU
    D15A12122706

    Description

    This exceptional 932-square-foot retail property at 105 Bypass Road in Williamsburg, Virginia, presents a unique investment opportunity. Situated on a 1.21-acre lot in York County (zip code 23185), this single-tenant building offers unparalleled accessibility and visibility. Its prime location provides easy access to I-64 and Richmond Road, placing it within close proximity to major attractions including William & Mary, Colonial Williamsburg, Busch Gardens, Water Country USA, and the Williamsburg Outlets. The property boasts a double drive-thru, allowing for convenient customer service and operational efficiency. Outdoor seating potential further enhances its appeal. Currently vacant, this site offers flexibility for various development scenarios. A prospective tenant could choose to backfill the existing building, explore a land lease agreement, pursue a build-to-suit project, or even consider a multi-tenant redevelopment to maximize the property's potential. This is an ideal location for businesses seeking high visibility and convenient access to a large customer base in a thriving tourist destination.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000
      ML approach
      $925,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    York
    State
    Virginia
    Longitude
    -76.7183
    Latitude
    37.2864
    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
    2024
    $5,853
    $501,400
    $289,600
    $791,000
    -
    $501,400
    $289,600
    $791,000

    Comparable in this City

    • Value Estimation
      $470,000
      1,855 SF

      736 Merrimac Trl

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,855 SF
      736 Merrimac Trl, Williamsburg, VA 23185-5351
      View Details
    • Value Estimation
      $340,000
      2,927 SF

      1989 Richmond Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,927 SF
      1989 Richmond Rd, Williamsburg, VA 23185-2729
      View Details
    • Value Estimation
      $355,000
      3,970 SF

      1907 Pocahontas Trl

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,970 SF
      1907 Pocahontas Trl, Williamsburg, VA 23185-5630
      View Details
    • Value Estimation
      $375,000
      3,495 SF

      1993 Richmond Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,495 SF
      1993 Richmond Rd, Williamsburg, VA 23185-2729
      View Details
    • Value Estimation
      $360,000
      4,207 SF

      1905 Pocahontas Trl

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,207 SF
      1905 Pocahontas Trl, Williamsburg, VA 23185-5630
      View Details
    • Value Estimation
      $405,000
      3,518 SF

      1901 Pocahontas Trl

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,518 SF
      1901 Pocahontas Trl, Williamsburg, VA 23185-5630
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,393 SF

      Prime Williamsburg Restaurant Space

      8,393 SF Restaurant, 2 Acres, VA
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    • $600,000
      2,416 SF

      Restaurant Opportunity in Williamsburg

      Restaurant building for sale in culinary arts district.
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      1,640 SF

      Retail Space Near I-64

      Retail spaces available near I-64 and Richmond Rd (Route 60).
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      Retail Space with Redevelopment Underway

      Retail spaces available in a shopping center undergoing renovation.
      1008 Mooretown Rd, Williamsburg, VA 23185
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      1,560 SF

      Retail Space with Redevelopment Underway

      Retail spaces available in renovated shopping center near I-64.
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      View Details
    • $1,200,000
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      Highly Visible Retail/Office Space

      Central location with private parking and monument signage.
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    Similar Nearby for Lease

    • Contact for pricing
      932 SF

      Williamsburg Retail Pad Site

      Retail property with drive-thru, near major attractions.
      105 Bypass Rd, 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
    • $18 SF/Yr
      149,872 SF

      Williamsburg Retail Center

      Prime Williamsburg retail space, 12 suites available.
      5251 John Tyler Hwy, Williamsburg, VA 23185
      View Details
    • Contact for pricing

      Retail Space in Williamsburg Center

      Retail space available in shopping center anchored by Harris Teeter.
      1470 Quarterpath Rd, Williamsburg, VA 23185
      View Details
    • $16 SF/Yr
      2,800 SF

      Jamestown Road Retail Space

      Williamsburg, VA Retail Opportunity
      1303 Jamestown Rd, Williamsburg, VA 23185
      View Details
    • $30 SF/Yr
      8,393 SF

      Williamsburg Restaurant - For Sale/Lease

      Prime Restaurant Space, 8,393 SF, 2 Acres
      2100 Richmond Rd, Williamsburg, VA 23185
      View Details
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    Williamsburg, VA 23185-2918
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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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