210 Whittakers Trce Williamsburg, VA 23185-5868

Property Details for 210 Whittakers Trce

Year built

2008

Lot size

2.36 lot acres

Property size

30,281 SF

Zone code

ECONOMIC OPPORTUNITY

Property type

Retail space

APN

H13B-3705-2673

APU

H13B37052673

Description

This fee-simple, stabilized retail investment presents a compelling opportunity. The property features a 30,281 square foot Best Buy, operating under a net-net lease with a remaining term of 2.3 years, expiring February 23, 2027, and lease options for 2 and 5 years with a $0.50/SF rent bump per option. The property boasts a 7.50% cap rate and a strong net operating income (NOI) of $322,500, with an asking price of $4,300,000 ($142/SF). Built in 2008, this single-building property sits on a 2.36-acre lot in Williamsburg, VA (210 Whittakers Trce, 23185), a prime location within the Williamsburg-Norfolk MSA, the 37th largest metro area in the US. The tenant recently replaced the parking lot and waived early termination rights, demonstrating a long-term commitment. A new billboard enhances visibility from I-64, a major east-west interstate highway. The property benefits from its proximity to other major retailers like Target and Kohl's, a planned food court, and the upcoming Marquis Hills development (182 single-family homes and 418 apartments, groundbreaking May 2024). The area shows strong growth potential, with projected population growth exceeding 5% within a 1-mile radius over the next 5 years and average household incomes exceeding $112,500 annually within a 3-mile radius. The property is also within 2 miles of the Naval Weapons Station. This is an exceptional opportunity to acquire a high-performing retail asset in a thriving market.

Location Insight

City

Williamsburg

County

York

State

Virginia

Longitude

-76.6417

Latitude

37.2576

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments