Commercial Building with
For Sale
$3,100,000
1033 Big Bethel Road, Hampton, VA 23666
COMMERCIAL - Hampton, VA
Property Size15,088 SF
Lot Size17.80 Acres
Price / SF$205.46
Days on Market322
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
Shingle, Metal
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: Aug 10
Last Checked: Aug 12 at 11:06PM
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 offering combines three parcels totaling 17.8 acres and includes a 15,000-square-foot commercial building along with a 2,700-square-foot residence. The property is presented for multiple uses and potential redevelopment, with the existing structures supporting a range of configurations.
The site is located at 1033 Big Bethel Road in Hampton, Virginia, on a main thoroughfare. It is described as having excellent proximity to shopping, established businesses, and interstate access. The property is zoned R-11, which should be reviewed for suitability with intended uses and any redevelopment plans.
The site is located at 1033 Big Bethel Road in Hampton, Virginia, on a main thoroughfare. It is described as having excellent proximity to shopping, established businesses, and interstate access. The property is zoned R-11, which should be reviewed for suitability with intended uses and any redevelopment plans.
Key Highlights
- 17.8‑acre site formed by combining three parcels in Hampton’s R‑11 zoning district
- Includes a 15,000 SF commercial building plus a 2,700 SF residence for multiple use possibilities
- Year built 1988
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
$198,290
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
6.40%
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%
$3,965,800
$4.0M
Cap Rate 7%
$2,832,714
$2.8M
Cap Rate 9%
$2,203,222
$2.2M
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
$298.7K $19.80/SF
− Vacancy
−$34.4K −$2.28/SF
EGI
$264.4K $17.52/SF
− OpEx
−$66.1K −$4.38/SF
NOI
$198.3K $13.14/SF
Area
Hampton, VA
Vacancy
11.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,965,800
Cap Rate 7%
$2,832,714
Cap Rate 9%
$2,203,222
Alternative Uses
Best Use
Office B
$2.83M
$2.48M – $3.30M
NOI $198,290 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$2.30M
$2.01M – $2.68M
NOI $160,823 @ 7.0% cap · market cap 5.19%
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
Market
Vacancy Rate% for Office 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?
Office building - Commercial building plus residence on three parcels totaling 17.8 acres in Hampton’s R-11 zoning district.
Where is this office building 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 site formed by combining three parcels in Hampton’s R‑11 zoning district; Includes a 15,000 SF commercial building plus a 2,700 SF residence for multiple use possibilities; Year built 1988
