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Property profile & analytics
FOR LEASE
Strip malls
118 Waller Mill Rd Williamsburg, VA 23185
Entity Owned
12-yr Hold
Free & Clear
Property ID
US87-0600517
For Lease
1 / 4
$2,480,000
118 Waller Mill Rd, Williamsburg, VA 23185
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Total area
140,543 SF
Lot
16.51 ac (719,176 SF)
Zoning code
GENERAL BUSINESS
APN
D15A-1247-3462
UPID
US87-0600517
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kingsgate Green Shopping Center & Mall
-
Sears Appliance Repair Home Appliance Store
-
Ashley Store Furniture & Home Goods Home Decor Store
-
Locke Supply Co - #312 - Plumbing Supply Big Box & Wholesale Store
-
Locke Supply Co - #314 - HVAC Supply Hardware & Home Improvement Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.48M
Owner & transaction history
Colonial Km LLC · 12 yrs held
Colonial Km LLC
since 2013
1 recorded transaction
Zoning & alternative use
GENERAL BUSINESS · Williamsburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Williamsburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Williamsburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$18 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$83,948
Tax year 2024
Assessed value
$11,344,300
Assessed 2024
Previous assessed
$8,207,500
+38.2% YoY
Effective rate
0.74%
On assessed value
Assessed land
$3,455,400
Assessed improvement
$7,888,900
Land market value
$3,455,400
Improvement market value
$7,888,900
Total market value
$11,344,300
Applied tax rate
5,104,150.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1980
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Total area
140,543 SF
Lot
16.51 ac (719,176 SF)
Zoning code
GENERAL BUSINESS
APN
D15A-1247-3462
UPID
US87-0600517
Jurisdiction
YORK
Zoning & alternative use
GENERAL BUSINESS · Williamsburg, VA
Zoning GENERAL BUSINESS · permitted uses
GENERAL BUSINESS · Williamsburg, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Williamsburg. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
16.51 ac
Current owner
From public records · entity-resolved
Colonial Km LLC
Entity
Free & Clear · 12 yrs held
Mailing address
135 JERICHO TPKE, OLD WESTBURY, NY 11568-1508
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2013
—
Colonial Km LLC
Colonial Properties LP
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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