Freestanding Retail/Office Building on
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2703 W Mercury Blvd, Hampton, VA
Freestanding retail/office building on Mercury Boulevard in Hampton, Virginia.
Property Size3,599 SF
Lot Size0.32 Acres
Price / SF$131.98
Days on Market523
Property Features for 2703 W Mercury Blvd
General Information
Standard status
Active
Size
3,599 SF
Lot size
0.32 Acres
Property subtype
OFFICE
Listing Agency:
Campana Waltz Commercial Real Estate, LLC - West
(757) 209-2990
Listed By:
Ron A Campana Jr
Source:
Moodyscre
Added: Apr 11, 2025
Changed: Jul 6
Last Checked: Sep 15 at 10:50AM
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 Campana Waltz Commercial Real Estate, LLC - West
Investment Insights
Based on property information with market context.
This freestanding retail/office building is located directly on Mercury Boulevard in Hampton, Virginia. The property offers monument and building signage. The versatile layout is conducive for most retail or office uses. The building has a size of 3599 square feet.
Key Highlights
- Highly visible location on Mercury Boulevard
- Freestanding retail/office building
- Monument and building signage available
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
$37,690
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
7.93%
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%
$753,800
$753.8K
Cap Rate 7%
$538,429
$538.4K
Cap Rate 9%
$418,778
$418.8K
Market Conditions
NOI Build-Up for 3,599 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
$56.1K $15.60/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$53.8K $14.96/SF
− OpEx
−$16.2K −$4.49/SF
NOI
$37.7K $10.47/SF
Area
Hampton, VA
Vacancy
4.10%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$753,800
Cap Rate 7%
$538,429
Cap Rate 9%
$418,778
Alternative Uses
Best Use
Office B
$675.7K
$591.2K – $788.3K
NOI $47,299 @ 7.0% cap · market cap 9.96%
Second Best
Retail
$538.4K
$471.1K – $628.2K
NOI $37,690 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$935.9K
$819.0K – $1.09M
NOI $65,516 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail/office building on Mercury Boulevard in Hampton, Virginia.
Where is this retail space located?
The property is located at 2703 W Mercury Blvd Hampton, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Highly visible location on Mercury Boulevard; Freestanding retail/office building; Monument and building signage available
