2100 Richmond RdWilliamsburg, VA 23185

Property Details for 2100 Richmond Rd

Year built

1993

Lot size

2.06 AC

Property size (Sq ft)

8,383 SF

Zone code

B-2 (CORRIDOR BUSINESS)

Property type

Retail properties

Property subtype

Turn key restaurants

APN

3709.143.488

APU

3709143488

Description

This exceptional 8,393-square-foot restaurant building presents a unique opportunity for sale or lease in the vibrant Williamsburg, VA market. Situated on a generous 2.04-acre lot, this single-story, 1993-built property boasts ample parking with 126 spaces, ensuring convenient access for patrons. The building is currently vacant, offering a blank canvas for a new culinary venture. Previously occupied by a Red Lobster, the space retains significant existing fixtures, fittings, and equipment (FF&E), including essential commercial kitchen components such as hoods, a walk-in refrigerator, and a walk-in freezer, along with tables and chairs. This substantial investment saves significant upfront costs for a new operator. The property is zoned B-2, allowing for a variety of commercial uses. The building features a robust 800-amp power supply, capable of handling the demands of a busy restaurant. Annual property taxes are $2.10 per square foot. This prime location offers high visibility and accessibility, making it an ideal site for a successful restaurant or similar commercial enterprise. The expansive lot provides ample room for outdoor seating or expansion. This is a rare opportunity to acquire a well-located, fully equipped restaurant space in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $2,286,336

  6.5%

  $2,110,464

  7%

  $1,959,717

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,370,896

  Geo Method

  $3,528,113

• Alternative Use

  Use

  Valuation

  Residential

  $1,780,256

  Hospitality

  $1,630,704

  Educational

  $1,356,727

  Medical

  $1,403,387

  Retail

  $2,110,464

Location Insight

City

Williamsburg

County

Williamsburg City

State

Virginia

Latitude

37.2996

Longitude

-76.7285

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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