Lightfoot Crossing | Williamsburg, Virginia
Price: $3,987,500
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Exec Summary Full Package | ||
| Address: 312 Lightfoot Road Williamsburg, VA 23188 |
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| Type: | Retail | ||
| CAP: | 8.17 % | ||
| Land Acres: | 2.38 | ||
| Square Feet: | 20,957 | ||
| Percent Occupied: | 100% | ||
Property Overview
| Cross Street | Richmond Rd. | Tax Parcel Number | B19A-2055-2884 |
| Market | Williamsburg | Sub Market | Lightfoot |
| Year Built | 2002 | Year Renovated | 2002 |
| Building Class | B | Location Class | B |
| No. of Buildings | 1 | No. of Pads | 0 |
| Available Pads | 0 | Shadow Anchored | Williamsburg Pottery |
| Street Frontage | 400 | Corner | No |
| Zoning Type | Economic Opportunity | No.Tenants | 8 |
| No. Stories | 1 | Occupancy | 100.00 % |
Property Description
| 8.17% Cap Rate * 9.09% cash on cash return * Below Market Assumable Loan @ 5.85% and current leases below market rents are the reasons to buy this property. Lightfoot Crossing is located in Williamsburg, Virginia’s high growth corridor (currently three times the national average) and conveniently situated off Route 199 and Interstate 64. The property makes an excellent 1031 Exchange opportunity through a fully assumable conduit loan at a very attractive interest rate. |
Area Description
| Lightfoot is an unincorporated community which straddles the James City County-York County border west of Williamsburg, Virginia. Located within commuting distance of two major metropolitan areas, Norfolk and Richmond, with a total workforce of almost 1.3 million, and six miles to its east is Colonial Williamsburg boasting more than 800,000 visitors per year. According to the U.S. Bureau of Census its population is growing at three times the national average. This trend is projected to continue into the next ten years. The area has been included in the “Top 10 Best Places to Work in the U.S” and the “Top 10 Best Places to live in the U.S.”. This dynamic growth has spurred much commercial development including the recent construction of Lowe’s, Wal-Mart and the new Sentra Williamsburg Regional Medical Center, all within a mile of the asset. The Williamsburg Pottery Factory, Williamsburg Outlet Mall, tourist attractions such as Great Wolf Lodge, and numerous quality amenities are also located within one mile. |
Location Map
View map of 312 Lightfoot Rd, Williamsburg, VA 23188-9004 on Multimap.com Get directions to or from 312 Lightfoot Rd, Williamsburg, VA 23188-9004 |
Presented by:
Rich Vaaler 703.771.1162 |
Jim Tucker, CCIM 804.794.9119 |
Contact Details
NetWorks Commercial Real Estate
6802 Paragon Place | Suite 410
Richmond, VA 23230
804.794.9119 Office
info@networkscre.com
www.networkscre.com
Map It!
Richmond, VA 23230
804.794.9119 Office
info@networkscre.com
www.networkscre.com
Map It!
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