In the current economic climate of virtually negative interest rates, this commercial property represents a once in a lifetime real estate investment opportunity with outstanding income potential, growth, and return on investment.
Moss Creek Commerce Centre at 9686 & 9690 Old Stage Road is in Toano/Williamsburg/James City County, notoriously known for the extreme difficulty and frustration developers experience receiving rezoning approval. Many rezoning application requests take at least 2 years, sometimes much longer and in most cases are not approved.
The Moss Creek Commerce Center property has successfully received rezoning approval and was recognized by James City County as a “necessary evil” in order to serve the residents of the Stonehouse community, the largest community located in James City County. The Moss Creek Commerce Centre project is in the coveted position of being located directly at the ONLY entrance to the Stonehouse community. This community has the potential to build 4,400 future homes and the next largest nearby community is 2,700 units.
The Stone house residential community is located precisely at Exit 227 on Interstate 64 at the midpoint between Richmond and the Tidewater region. This is a very rare and attractive commercial location. This is due, not only to its proximity to local residential communities, but also to the high volume flow of to and from traffic from Washington DC, Baltimore and Richmond VA to the extremely popular vacation and tourist destinations of Virginia Beach, Williamsburg and the Tidewater region and on to the Outer Banks, plus the Virginia costal military facilities.
Current “highway exit” businesses are extremely successful and lucrative, and rank very high in their respective company production results. Exit 227 can only grow significantly due to the traffic noted above and the already approved and commenced projects in the direct surrounding area plus the fact that it is highly unlikely that new area developments will receive rezoning approval.
The current traffic growth on both I-64 and Route 30 has been exponential. Because of this growth, Moss Creek Commerce Centre was envisioned and planned. Although not an easy task, the developer “assembled” specific properties that were needed to make the project a success. Once this assemblage of real estate was achieved, the developer set about to get the properties rezoned from Agricultural A-1 to Business, B-1 with Special Use Exceptions. This took nearly 3 years to complete and obtain all the necessary approvals and private easements/assignment.
The most exciting aspect of this project that makes the Moss Creek development a truly unique investment opportunity, in James City County or anywhere, are the number of Special Use approvals that were granted for the PUD:
• A convenience store with gas pumps
• Big-box Pharmacy site
• A strip retail designation
• Office/Warehouse building
• And a mini self-storage facility
Importantly, this coveted commercial real estate development site currently contains the ONLY convenience store with gas and Big-box pharmacy site. The Centre also contains individual sites for a bank location and (4) professional office suite buildings.
The overall blend of truly unique use approvals makes Moss Creek Commercial Centre one of the most coveted and desirable investment developments in all of Williamsburg. At this point, all that remains is a first phase completion of infrastructure work to bring the development to site sales condition. Once the individual sites are developed, individual site sales will be significant. The new developer could sell the sites outright, build and operate, build to suit, or build and rent accordingly.
Moss Creek Commercial Centre will be sold to the highest bidder.