Flex Space with C2
For Sale
$175,000
85 W Mercury Boulevard, Hampton, VA 23669
Commercial/Industrial, Hampton, VA
Property Size800 SF
Lot Size0.18 Acres
Price / SF$218.75
Days on Market44
Property Features for 85 W Mercury Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking features
Assigned
Subdivision
ALL OTHERS AREA 101
Standard status
Active
Size
800 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
1431
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Building Details
Roof type
Shingle
Listing Agency:
AMW Real Estate Inc
(757) 806-5906
Listed By:
Amanda Walsh
(757) 725-4086
Added: Jul 20
Changed: Aug 28
Last Checked: Sep 1 at 3:06AM
MLS# 10644028
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 800-square-foot flex property sits on a 0.18-acre lot at 85 W Mercury Boulevard in Hampton, Virginia. The building has a shingle roof, central air conditioning, and heat pump heating, with assigned parking included.
The C2 zoning and existing configuration support consideration for automotive service, office, office warehouse, restaurant, retail, or warehouse use. Its Mercury Boulevard address provides a commercial setting for evaluating these potential applications.
The C2 zoning and existing configuration support consideration for automotive service, office, office warehouse, restaurant, retail, or warehouse use. Its Mercury Boulevard address provides a commercial setting for evaluating these potential applications.
Key Highlights
- 800‑square‑foot flex property on a 0.18‑acre lot
- C2 zoning
- Located at 85 W Mercury Boulevard in Hampton, VA 23669
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
$5,661
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
3.23%
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%
$113,220
$113.2K
Cap Rate 7%
$80,871
$80.9K
Cap Rate 9%
$62,900
$62.9K
Market Conditions
NOI Build-Up for 800 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
$9.1K $11.40/SF
− Vacancy
−$410 −$0.51/SF
EGI
$8.7K $10.89/SF
− OpEx
−$3.0K −$3.81/SF
NOI
$5.7K $7.08/SF
Area
Hampton, VA
Vacancy
4.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$113,220
Cap Rate 7%
$80,871
Cap Rate 9%
$62,900
Alternative Uses
Best Use
Flex RnD
$80.9K
$70.8K – $94.4K
NOI $5,661 @ 7.0% cap · market cap 3.23%
Second Best
Industrial
$74.9K
$65.5K – $87.4K
NOI $5,242 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$208.0K
$182.0K – $242.7K
NOI $14,563 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - The property has central air, heat pump heating, assigned parking, and a shingle roof.
Where is this flex space located?
The property is located at 85 W Mercury Boulevard Hampton, VA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 800‑square‑foot flex property on a 0.18‑acre lot; C2 zoning; Located at 85 W Mercury Boulevard in Hampton, VA 23669
