Retail Strip Center For
1928 N Armistead Ave Hampton, VA
1928 N Armistead Ave, Hampton, VA, 00000
Contact for pricing
For Sale
Contact for pricing
Freestanding retail strip center with high frontage and exposure.
Property Size11,000 SF
Lot Size0.79 Acres
Price / SF$136.36
Days on Market1118
Property Features for 1928 N Armistead Ave
General Information
- Standard status
- Active
- Size
- 11,000 SF
- Lot size
- 0.79 Acres
- Property subtype
- RETAIL
Listing Agency
Cushman & Wakefield | Thalhimer - Virginia Beach
(757) 873-0323
Listed by
Teresa Nettles
(757) 873-0323
Source
Moodyscre
Added: Jun 29, 2023 Updated: Jul 6 at 10:11 am Checked: Jul 20 at 2:20 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | Thalhimer - Virginia Beach
Investment Insights
Based on property information with market context.
This freestanding retail strip center features approximately 370 feet of frontage and can accommodate up to three tenant spaces, including NAPA Auto Parts. The corner parcel is located at the intersection of Mercury Boulevard and N. Armistead. The property benefits from high exposure, exterior signage, and convenient access to a private parking lot. The masonry building includes 13-foot ceilings in the warehouse areas and grid ceilings in the showroom areas. The property is situated in both the 100-year and 500-year floodplain area and has a total size of 11,000 square feet.
Key Highlights
- Freestanding retail strip center with frontage on a corner parcel at a major intersection (Mercury Boulevard and N. Armistead).
- High visibility with great exposure and exterior signage opportunities.
- Easy access into a private parking lot.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.6k | $15.60 |
| − Vacancy | −$7.0k | −$0.64 |
| EGI | $164.6k | $14.96 |
| − OpEx | −$49.4k | −$4.49 |
| NOI | $115.2k | $10.47 |
11,000 SF · lease $15.60/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.65M
$1.44M – $1.92M
NOI $115,195 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,244 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Napa Auto Parts
Auto Parts Store
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Freestanding retail strip center with high frontage and exposure.
Where is this strip mall located?
The property is located at 1928 N Armistead Ave Hampton, VA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Freestanding retail strip center with frontage on a corner parcel at a major intersection (Mercury Boulevard and N. Armistead).; High visibility with great exposure and exterior signage opportunities.; Easy access into a private parking lot.
