210 Whittakers TrceWilliamsburg, VA 23185

Property Details for 210 Whittakers Trce

Year built

2008

Lot size

2.36 AC

Property size (Sq ft)

30,281 SF

Zone code

ECONOMIC OPPORTUNITY

Property type

Retail properties

Property subtype

Retail space

APN

H13B-3705-2673

APU

H13B37052673

Description

This fee-simple, stabilized retail investment presents a compelling opportunity. The property features a 30,281 square foot Best Buy, operating under a net-net lease with a remaining term of 2.3 years, expiring February 23, 2027, and lease options for 2 and 5 years with a $0.50/SF rent bump per option. The property boasts a 7.50% cap rate and a strong net operating income (NOI) of $322,500, with an asking price of $4,300,000 ($142/SF). Built in 2008, this single-building property sits on a 2.36-acre lot in Williamsburg, VA (210 Whittakers Trce, 23185), a prime location within the Williamsburg-Norfolk MSA, the 37th largest metro area in the US. The tenant recently replaced the parking lot and waived early termination rights, demonstrating a long-term commitment. A new billboard enhances visibility from I-64, a major east-west interstate highway. The property benefits from its proximity to other major retailers like Target and Kohl's, a planned food court, and the upcoming Marquis Hills development (182 single-family homes and 418 apartments, groundbreaking May 2024). The area shows strong growth potential, with projected population growth exceeding 5% within a 1-mile radius over the next 5 years and average household incomes exceeding $112,500 annually within a 3-mile radius. The property is also within 2 miles of the Naval Weapons Station. This is an exceptional opportunity to acquire a high-performing retail asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $8,945,291

  6.5%

  $8,257,192

  7%

  $7,667,392

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,293,422

  Geo Method

  $12,744,219

• Alternative Use

  Use

  Valuation

  Residential

  $6,965,250

  Hospitality

  $6,380,132

  Educational

  $5,308,194

  Medical

  $5,490,752

  Retail

  $8,257,192

Location Insight

City

Williamsburg

County

York

State

Virginia

Latitude

37.2576

Longitude

-76.6417

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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