835 Capitol Landing RdWilliamsburg, VA 23185

Property Details for 835 Capitol Landing Rd

Year built

1955

Lot size

0.37 AC

Property size (Sq ft)

2,399 SF

Zone code

B-4 (GENERAL BUSINESS)

Property type

Retail properties

Property subtype

Turn key restaurants

APN

3120.752.035

APU

3120752035

Description

This 2,416 square foot retail property, located at 835 Capitol Landing Rd, Williamsburg, VA 23185, presents a unique redevelopment opportunity. Built in 1955 and renovated in 2019, this single-story, Class B building sits on a 1-acre lot (APN: 3120.752.035) and is zoned B4. Currently configured as a restaurant and convenience store, it offers significant flexibility for conversion to office space or other retail uses. The property is being sold "as is" fee simple, with an asking price of $600,000 ($248.34/sq ft). Its prime location on Capitol Landing Road, considered the "Gateway to Williamsburg," places it within the Culinary Arts and Hospitality District and a designated Opportunity Zone, providing access to various investment incentives. The property benefits from its proximity to a planned 235-unit apartment/townhouse development within one mile. The business is currently closed, and tours are available by appointment only. The occupancy date is September 14, 2023. This presents a compelling investment opportunity in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $654,291

  6.5%

  $603,961

  7%

  $560,821

• Comparable approach

  Method

  Valuation

  Relative Method

  $678,490

  Geo Method

  $1,009,656

• Alternative Use

  Use

  Valuation

  Residential

  $509,464

  Hospitality

  $466,666

  Educational

  $388,261

  Medical

  $401,613

  Retail

  $603,961

Location Insight

City

Williamsburg

County

Williamsburg City

State

Virginia

Latitude

37.2813

Longitude

-76.6891

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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