R11 Commercial
For Sale
$3,100,000
1033 Big Bethel Road, Hampton, VA 23666
Commercial/Industrial, Hampton, VA
Property Size15,088 SF
Lot Size17.80 Acres
Price / SF$205.46
Days on Market343
Property Features for 1033 Big Bethel Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R11
Subdivision
ALL OTHERS AREA 105
Standard status
Active
Size
15,088 SF
Lot size
17.80 Acres
Taxes and HOA fees
Tax Annual Amount
12715
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1988
Roof type
Metal, Shingle
Listing Agency:
RE/MAX Connect · RE/MAX International
(757) 525-3639
Listed By:
Carlyn Menser · License #0225104023
(757) 525-3639
Added: Sep 25, 2025
Changed: Sep 1
Last Checked: Sep 2 at 3:06AM
MLS# 10603491
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 17.8-acre tract consists of three combined parcels with an existing commercial building and a separate residence. The improvements include forced-air heating, central air, and a combination of shingle and metal roofing; the property was built in 1988. The land is identified with R11 zoning and is suited to evaluation as a commercial land holding with existing structures.
The property is located at 1033 Big Bethel Road in Hampton, Virginia, along a main thoroughfare. Shopping, established businesses, and interstate access are identified in the surrounding area. The combined acreage and existing improvements provide a substantial physical footprint for commercial land users reviewing the site.
The property is located at 1033 Big Bethel Road in Hampton, Virginia, along a main thoroughfare. Shopping, established businesses, and interstate access are identified in the surrounding area. The combined acreage and existing improvements provide a substantial physical footprint for commercial land users reviewing the site.
Key Highlights
- 17.8‑acre tract assembled from three parcels
- R11 zoning designation
- Existing 15,000 sq. ft. commercial building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$187,393
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,747,860
$3.7M
Cap Rate 7%
$2,677,043
$2.7M
Cap Rate 9%
$2,082,144
$2.1M
Market Conditions
NOI Build-Up for 15,088 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$325.9K $21.60/SF
− Vacancy
−$26.1K −$1.73/SF
EGI
$299.8K $19.87/SF
− OpEx
−$112.4K −$7.45/SF
NOI
$187.4K $12.42/SF
Area
Hampton, VA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,747,860
Cap Rate 7%
$2,677,043
Cap Rate 9%
$2,082,144
Alternative Uses
Best Use
Mixed Use
$2.68M
$2.34M – $3.12M
NOI $187,393 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,662 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 23666, VA
52,845
Population
25,117
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
91%
High-School Grad
19.4 sq mi
ZIP Area
2,724
Density / Sq Mi
$70,798
Median Household Income
$42,552
Median Earnings
$1,439
Median Rent
$241,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Three parcels include existing commercial and residential improvements with interstate access.
Where is this commercial land located?
The property is located at 1033 Big Bethel Road Hampton, VA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 17.8‑acre tract assembled from three parcels; R11 zoning designation; Existing 15,000 sq. ft. commercial building
