6610 Mooretown RdWilliamsburg, VA 23188

Property Details for 6610 Mooretown Rd

Year built

2006

Lot size

21.26 AC

Property size (Sq ft)

120,493 SF

Zone code

ECONOMIC OPPORTUNITY

Property type

Strip malls

Property subtype

Neighborhood centers

APN

C19C-0712-1973

APU

C19C07121973

Description

This exceptional 120,920-square-foot multi-tenant retail center in Williamsburg, Virginia, presents a compelling investment opportunity. Boasting a 7.82% cap rate and a strong NOI of $1,007,657, the property is 83.79% occupied by a diverse mix of retail, restaurant, and service tenants, including Ross Dress for Less, Dollar Tree, and Children's Hospital Thrift Store. Seven vacant suites totaling 19,600 square feet offer significant upside potential for increased revenue. Recent leasing activity, including two new leases and one lease extension, has already resulted in a $40,000 NOI increase. The property features three points of ingress and egress with signalized intersections, ensuring excellent visibility along Mooretown Road (8,600+ vehicles daily). Its prime location near I-64 and Humelsine Parkway Interchange places it within a dense retail corridor alongside major national tenants such as Williamsburg Premium Outlets, Walmart, Lowe's, and Home Depot. The center benefits from its proximity to Michael Commons Medical Office Condos, The Bend Arbordale Apartments (289 units), and Sentara Williamsburg Regional Medical Center, a major 145-bed hospital. Furthermore, its location near major tourist attractions like Great Wolf Lodge, Colonial Williamsburg, and Busch Gardens Williamsburg, coupled with strong demographics (population exceeding 51,700 within 5 miles, average household income of $106,000), ensures consistent foot traffic and growth potential. The asking price is $12,875,000 ($106.48/sq ft) and includes a 21.26-acre lot. An additional outparcel lot is also available for separate purchase. The property was built in 2006 and operates under a net lease agreement.

• CAP approach

  CAP return

  Valuation

  6%

  $25,681,400

  6.5%

  $23,705,900

  7%

  $22,012,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,064,000

  Geo Method

  $20,928,500

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $46,342,700

  Mixed-Use / Specialty

  $23,575,300

  Hospitality / Lodging

  $17,236,500

  Office

  $23,387,300

  Institutional / Educational

  $24,492,400

  Residential Income

  $28,656,100

  Multifamily

  $34,623,700

  Automotive / Energy

  $20,993,500

  Parking / Income-Based Land

  $7,290,070

  Restaurant / Food Service

  $12,163,500

  Healthcare / Senior Housing

  $24,223,300

Location Insight

City

Williamsburg

County

York

State

Virginia

Latitude

37.3382

Longitude

-76.7346

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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