Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7224 Merrimac Trl Williamsburg, VA 23185-5224

    • Commercial real estate
    • 5,600 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Sep 06, 2024
    $1,075,001
    Value Estimations
    $1,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3311241
    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

    • Merrimac Inn & Suites / Hotel & Motel

    Property Details for 7224 Merrimac Trl

    Year built
    1900
    Lot size
    0.23 lot acres
    Property size
    5,600 SF
    Zone code
    B1 GENERAL BUSINESS
    Property type
    Commercial real estate
    APN
    41-4 07-0-0003
    APU
    4140700003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,075,000
      ML approach
      $1,075,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamsburg
    County
    James City
    State
    Virginia
    Longitude
    -76.6701
    Latitude
    37.2596
    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
    2019
    $1,830
    $53,900
    $163,900
    $217,800
    -
    $53,900
    $163,900
    $217,800

    Comparable in this City

    • Value Estimation by Request
      0.19 Acres

      1780 Jamestown Rd

      COMMERCIAL (GENERAL) • 0.19 Acres
      1780 Jamestown Rd, Williamsburg, VA 23185
      View Details
    • Value Estimation by Request
      32.16 Acres

      1969 Pocahontas Trl

      COMMERCIAL (GENERAL) • 32.16 Acres
      1969 Pocahontas Trl, Williamsburg, VA 23185
      View Details
    • Value Estimation by Request
      30.30 Acres

      7795 Pocahontas Trl

      COMMERCIAL (GENERAL) • 30.30 Acres
      7795 Pocahontas Trl, Williamsburg, VA 23185
      View Details
    • Value Estimation by Request
      1,152 SF

      1323 Jamestown Rd Ste, Unit 103

      COMMERCIAL (GENERAL) • 1,152 SF
      1323 Jamestown Rd Ste, Williamsburg, VA 23185-3367
      View Details
    • Value Estimation by Request
      1,584 SF

      1321 Jamestown Rd Ste, Unit 202

      COMMERCIAL (GENERAL) • 1,584 SF
      1321 Jamestown Rd Ste, Williamsburg, VA 23185-3366
      View Details
    • Value Estimation by Request
      1,152 SF

      1323 Jamestown Rd Ste, Unit 203

      COMMERCIAL (GENERAL) • 1,152 SF
      1323 Jamestown Rd Ste, Williamsburg, VA 23185-3367
      View Details

    Similar Nearby for Sale

    • $1,800,000
      33.00 Acres

      Williamsburg Commercial Land Development

      33 Acres, Prime Williamsburg Location
      1090 Henry St, Williamsburg, VA 23185
      View Details
    • $850,000
      1.15 Acres

      Williamsburg Retail Land - $850K

      Prime 1.15-acre retail lot, high traffic area.
      817 Merrimac Trl, Williamsburg, VA 23185
      View Details
    • $122,500
      0.01 Acres

      Williamsburg Office Space For Sale

      Updated Office Building, Prime Location
      1317 Jamestown Rd, Williamsburg, VA 23185
      View Details
    • $585,000
      1.92 Acres

      Williamsburg Commercial Land - $585K

      1.92 Acres, High-Traffic Location
      406 Bypass Rd, Williamsburg, VA 23185
      View Details
    • $999,999

      Gulfport Medical Office Building

      Prime Medical Office, Move-In Ready
      804 Capitol Landing Rd, Williamsburg, VA 23185
      View Details
    • $397,000
      4.24 Acres

      Waterfront Lot on College Creek

      4.24 acre waterfront lot near Colonial Williamsburg.
      117 Northpoint Dr, Williamsburg, VA 23185
      View Details

    Similar Nearby for Lease

    • $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
      373,536 SF

      Green Mount Logistics Center

      Class A Industrial Space Available
      1637 Green Mount Pkwy, Williamsburg, VA 23185
      View Details
    • $12 SF/Yr
      1,693 SF

      Williamsburg Office Space For Rent

      Office space for rent near Colonial Williamsburg and William & Mary.
      1215 S Mount Vernon Ave, 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
    • $19 SF/Yr
      7,500 SF

      Class A Office Space Available

      Premier office space in Busch Corporate Center, move-in ready.
      432 Mclaws Cir, Williamsburg, VA 23185
      View Details
    • Contact for pricing

      Williamsburg Commercial Land Lease

      0.71-acre lot, prime Williamsburg location.
      1911 Pocahontas Trl, Williamsburg, VA 23185
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7224 Merrimac Trl
    Williamsburg, VA 23185-5224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.