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

    1200 Airport Rd Williamsburg, VA 23188

    • Office buildings
    • 2,400 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1046868
    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

    • Office buildings

    Property Details for 1200 Airport Rd

    Year built
    1754
    Lot size
    2.00 lot acres
    Property size
    2,400 SF
    Zone code
    RESOURCE CONSERVATION
    Property type
    Office buildings
    APN
    E17A-2487-4697
    APU
    E17A24874697

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    York
    State
    Virginia
    Longitude
    -76.696
    Latitude
    37.319
    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
    $2,940
    $100,000
    $297,300
    $397,300
    -
    $100,000
    $297,300
    $397,300

    Comparable in this City

    • Value Estimation
      $6,635,000
      1,570 SF

      301 Lightfoot Rd

      OFFICE BUILDING • 1,570 SF
      301 Lightfoot Rd, Williamsburg, VA 23188-9003
      View Details
    • Value Estimation
      $1,425,000
      8,192 SF

      6726 Mooretown Rd

      OFFICE BUILDING • 8,192 SF
      6726 Mooretown Rd, Williamsburg, VA 23188-2164
      View Details
    • Value Estimation by Request
      928 SF

      147 Fenton Ml Rd

      OFFICE BUILDING • 928 SF
      147 Fenton Ml Rd, Williamsburg, VA 23188-2219
      View Details
    • Value Estimation
      $920,000
      868 SF

      150 Strawberry Plns Rd

      CONDOMINIUM OFFICES • 868 SF
      150 Strawberry Plns Rd, Williamsburg, VA 23188-3408
      View Details
    • Value Estimation
      $925,000
      971 SF

      150 Strawberry Plns Rd Ste B

      CONDOMINIUM OFFICES • 971 SF
      150 Strawberry Plns Rd Ste B, Williamsburg, VA 23188-3408
      View Details
    • Value Estimation by Request
      1,948 SF

      500 Strawberry Plns Rd

      OFFICE (GENERAL) • 1,948 SF
      500 Strawberry Plns Rd, Williamsburg, VA 23188-3442
      View Details

    Similar Nearby for Sale

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      8,518 SF

      Williamsburg Office Building For Sale

      Office building with prominent signage and abundant natural light.
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    • $700,000
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      Well-Maintained Office Building For Sale

      Office building with upgraded finishes, good parking, and natural light.
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      Modern Office Building in Williamsburg

      Leased Class A office building in desirable New Town.
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    • $596,835
      4,421 SF

      Office/Medical Condominium Near Hospital

      Office and medical condominium development near Sentara Williamsburg Hospital.
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    • Contact for pricing
      2,188 SF

      Williamsburg Office Condos For Sale

      Two office condos in Williamsburg, Virginia, near New Town.
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      Established Office Space For Sale

      Office space in a well-established area with solid neighborhoods.
      5388 Discovery Park Blvd, Williamsburg, VA 23188
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Turn-Key Office Space Available

      Two 1,200 SF units in well-maintained business park.
      7151 Richmond Rd, Williamsburg, VA 23188
      View Details
    • $18 SF/Yr
      800 SF

      New Town Office Suites Available

      Professional office suites for lease in a prime location.
      5360 Discovery Park Blvd, Williamsburg, VA 23188
      View Details
    • $16 SF/Yr
      46,191 SF

      Williamsburg Pavilion Shops Retail Space

      Prime Retail Space, Multiple Units Available
      6500-6536 Richmond Rd, Williamsburg, VA 23188
      View Details
    • $23 SF/Yr
      768 SF

      Office Space in New Town

      Office space for rent in a vibrant commercial area.
      4808 Courthouse St, Williamsburg, VA 23188
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    • $24 SF/Yr
      2,659 SF

      Office Space with Private Balcony

      Professional office space with abundant parking and outdoor balcony.
      5400 Discovery Park Blvd, Williamsburg, VA 23188
      View Details
    • Contact for pricing
      2,000 SF

      Professional Office Space For Rent

      First floor office space with utilities included, near New Town.
      500 Strawberry Plains Rd, Williamsburg, VA 23188
      View Details
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    1200 Airport Rd
    Williamsburg, VA 23188
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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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