Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    14 E Mellen St Hampton, VA 23663

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime retail space in the heart of Phoebus' commercial district.

    Property size:
    1,400 SF
    Lot size:
    0.24 Acres

    Property Features for 14 E Mellen St

    General Information

    Size
    1,400 SF
    Lot size
    0.24 Acres

    We can help!

    Listing Contact
    Missy Martinovich
    Missy Martinovich
    Source: Moodyscre

    Listing Agent: Missy Martinovich

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Phoebus Retail Space

    This property offers prime retail space on the first floor of a building undergoing complete renovation. It is situated on Mellen Street in the Phoebus commercial district, a location known for its shops, restaurants, and local culture. The space is versatile and suited for various retail concepts. The property is undergoing full renovation with modern upgrades while preserving historic character. The layout can be divided into two suites, each with front and rear access. Ample street parking is available, with a free municipal parking lot located in the rear. The location features a mix of neighboring businesses including restaurants, boutiques, breweries, and cultural attractions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Howard Gould Law ... Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    York
    State
    Virginia
    Longitude
    -76.3228066
    Latitude
    37.0193817

    Nearby Similar for Lease

    • $21 SF/Yr
      1,260 SF

      Renovated Commercial Building on Corner

      Renovated commercial building with high visibility and easy access.
      1328 E Pembroke Ave, Hampton, VA 23669
      View Details
    • $2.00 SF/Yr
      1,000 SF

      Commercial Building with Fenced Lot

      Commercial building with reception area, offices, and large fenced lot.
      500 Bassette St, Hampton, VA 23669
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space Near Interstate I-64

      Retail space with interstate visibility and connectivity to major roads.
      1 Towne Ctr Way, Hampton, VA
      View Details
    • Contact for pricing
      3,168 SF

      Hampton Towne Centre Retail Space

      Retail space in a dominant entertainment district with interstate visibility.
      1 Town Center Way, Hampton, VA 23666
      View Details
    • Contact for pricing
      4,371 SF

      Restaurant Space in Historic Phoebus

      Second-generation restaurant space in a thriving culinary and cultural scene.
      33 East Mellen St, Hampton, VA 23663
      View Details
    • Contact for pricing
      1,709 SF

      Vibrant Retail Space in Hampton

      Dynamic mixed-use center with retail, dining, entertainment, office, and residential.
      2403-2423 Mcmenamin St, Hampton, VA 23630
      View Details
    • Contact for pricing
      1,095 SF

      Vibrant Retail Space in Hampton

      Dynamic retail space in a mixed-use town center development.
      3530 Von Schilling Dr, Hampton, VA 23666
      View Details
    • Contact for pricing
      6,569 SF

      Vibrant Retail Space in Hampton

      Dynamic shopping center with high visibility and ample parking.
      2503-3670 Executive Dr, Hampton, VA 23666
      View Details
    • $15 SF/Yr
      2,500 SF

      Historic Office Space in Hampton

      Prime location with flexible lease terms and ample foot traffic.
      9 S Mallory St, Hampton, VA 23663
      View Details
    • Contact for pricing
      48,609 SF

      Hampton Retail Center Opportunity

      Prime Hampton retail space available.
      1631 Merchant Ln, Hampton, VA 23666
      View Details
    • Contact for pricing
      10,908 SF

      Hampton Retail Space For Lease

      Retail space available in Hampton Towne Centre near I-64.
      40 Town Center Way, Hampton, VA 23666
      View Details
    • $17 SF/Yr
      177,000 SF

      Todd Center Retail Space Available

      Hampton, VA: Prime Retail Opportunity
      2124 Mercury Blvd, Hampton, VA 23666
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail space in the heart of Phoebus' commercial district.
    Where is this retail space located?
    The property is located at 14 E Mellen St Hampton, VA.
    What are key features of this property?
    This property features: - Prime retail space in the heart of the revitalizing Historic Phoebus.; - High-visibility location on Mellen Street in a thriving commercial district.; - Undergoing full renovation with modern upgrades, preserving historic character.
    (757) 270-2788
    Request Owner's contact information
    14 E Mellen St Hampton, VA 23663
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    14 E Mellen St
    Hampton, VA 23663
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14 E Mellen St Hampton, VA 23663
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Missy Martinovich
    Missy Martinovich
    (757) 270-2788
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.