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

    720 Lightfoot Rd Williamsburg, VA 23188-9013

    • Hotels
    • 68,328 SF
    • 2.94 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2021
    $10,575,000
    Value Estimations
    $9,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0548094
    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

    • Holiday Inn Express Williamsburg North, an IHG Hotel / Hotel / Conference Center

    Property Details for 720 Lightfoot Rd

    Year built
    2000
    Lot size
    2.94 lot acres
    Property size
    68,328 SF
    Zone code
    ECONOMIC OPPORTUNITY
    Property type
    Hotels
    APN
    B19B-3735-4358
    APU
    B19B37354358

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,525,000
      ML approach
      $9,105,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $6,655,000
      Current use
      OFFICE BUILDING
      $9,535,000
      Change: +43% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,825,000
      Change: +33% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,890,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    York
    State
    Virginia
    Longitude
    -76.7426
    Latitude
    37.3462
    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
    $76,417
    $1,129,300
    $9,197,300
    $10,326,600
    -
    $1,129,300
    $9,197,300
    $10,326,600

    Comparable in this City

    • Value Estimation
      $1,325,000
      179,277 SF

      549 Rochambeau Dr

      HOTEL • 179,277 SF
      549 Rochambeau Dr, Williamsburg, VA 23188-2148
      View Details
    • Value Estimation
      $470,000
      2,507 SF

      5210 Newman Rd

      CAMPGROUND, RV PARK • 2,507 SF
      5210 Newman Rd, Williamsburg, VA 23188
      View Details
    • Value Estimation
      $6,710,000
      32.04 Acres

      901 Lightfoot Rd

      CAMPGROUND, RV PARK • 32.04 Acres
      901 Lightfoot Rd, Williamsburg, VA 23188-9018
      View Details
    • Value Estimation
      $375,000
      2,881 SF

      4000 Newman Rd

      CAMPGROUND, RV PARK • 2,881 SF
      4000 Newman Rd, Williamsburg, VA 23188-2188
      View Details
    • Value Estimation
      $6,710,000
      168.23 Acres

      701 Lightfoot Rd

      CAMPGROUND, RV PARK • 168.23 Acres
      701 Lightfoot Rd, Williamsburg, VA 23188-9013
      View Details
    • Value Estimation
      $270,000
      1.40 Acres

      5228 Newman Rd

      CAMPGROUND, RV PARK • 1.40 Acres
      5228 Newman Rd, Williamsburg, VA 23188-9334
      View Details

    Similar Nearby for Sale

    • $199,900
      1.89 Acres

      Residential Land in Williamsburg, VA

      Large residential lots available in Williamsburg, close to Colonial Williamsburg.
      5353 Ridgewood Hl Dr, Williamsburg, VA 23188
      View Details
    • $2,100,000
      6,100 SF

      Restaurant Parcel on Richmond Road

      Second-generation restaurant parcel near Williamsburg Premium Outlet Mall.
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    • $225,000

      Land for Sale Williamsburg

      Land available for sale in Williamsburg, Virginia.
      153 Shinnecock, Williamsburg, VA 23188
      View Details
    • $199,900
      0.90 Acres

      Residential Land in Williamsburg, VA

      Residential land for sale in the heart of Williamsburg, VA.
      5357 Ridgewood Hills Dr, Williamsburg, VA 23188
      View Details
    • $1,400,000

      Land For Sale Williamsburg

      Land available for sale in Williamsburg, Virginia.
      512 Lightfoot Rd, Williamsburg, VA 23188
      View Details
    • $125,000
      1.23 Acres

      Land Overlooking Lake Norvell

      1.2 Acres to build your dream home in Williamsburg.
      105 Shirley Dr, Williamsburg, VA 23188
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    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      Williamsburg Industrial Flex Space

      Large Flex/Warehouse Space Available Now
      137 Industrial Blvd, Williamsburg, VA 23188
      View Details
    • Contact for pricing
      23,184 SF

      Retail Space in Marketplace District

      Retail space available in the Marketplace Shopping District.
      4900 Monticello Ave, Williamsburg, VA 23188
      View Details
    • $16 SF/Yr
      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
    • $33 SF/Yr
      4,000 SF

      Williamsburg Warehouse Space Available

      400 SF Industrial Unit - Immediate Occupancy
      3825 Rochambeau Dr, Williamsburg, VA 23188
      View Details
    • Contact for pricing
      1,533 SF

      Retail Space in Williamsburg, VA

      Retail space available at a prominent intersection in Williamsburg.
      1101-1119 Center St, Williamsburg, VA 23188
      View Details
    • $28 SF/Yr
      1,000 SF

      Retail Space in Premier Center

      Retail space available in Williamsburg's premier shopping center.
      4600-4700 Monticello Ave, Williamsburg, VA 23188
      View Details
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    720 Lightfoot Rd
    Williamsburg, VA 23188-9013
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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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