Turn-Key Leased Office Building with
For Sale
$325,000
1283 N King St, Hampton, VA 23669
Fully leased office building includes four car/bay garages plus dedicated garage/workshop space.
Property Size4,408 SF
Price / SF$73.73
Days on Market73
Property Features for 1283 N King St
General Information
Standard status
Active
Size
4,408 SF
Occupancy
100%
Building Details
Year Built
1949
Listing Agency:
Long & Foster Real Estate Inc.
Listed By:
Kyle T. Hause Jr. · License #0225143450
(757) 727-0069
Source:
Horakrealtygroup
Added: Jul 26
Changed: Oct 2
Last Checked: Oct 5 at 8:02PM
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 Long & Foster Real Estate Inc.
Investment Insights
Based on property information with market context.
Turn-key office building presented for sale as a fully leased property, designed with a front office layout and a rear garage/workshop component. The building includes approximately 4,400 square feet of office space and approximately 1,100 square feet of garage/workshop space, supported by four car/bay garages.
The property fronts King Street, with the building extending back toward Little Back River Road. The current configuration supports an owner-operator or small business that prefers purchasing real estate rather than renting.
Located at 1283 N King St, Hampton, VA 23669, this offering combines dedicated office area with on-site garage/workshop space in a compact, single-building footprint.
The property fronts King Street, with the building extending back toward Little Back River Road. The current configuration supports an owner-operator or small business that prefers purchasing real estate rather than renting.
Located at 1283 N King St, Hampton, VA 23669, this offering combines dedicated office area with on-site garage/workshop space in a compact, single-building footprint.
Key Highlights
- Fully leased office building with approx 4,400 SF of office space
- Includes four car/bay garages plus dedicated garage/workshop space (approx 1,100 SF)
- Building fronts King Street and extends back toward Little Back River Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,882
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,640
$577.6K
Cap Rate 7%
$412,600
$412.6K
Cap Rate 9%
$320,911
$320.9K
Market Conditions
NOI Build-Up for 4,408 SF
Gross rent
$42.8K $9.72/SF
− Vacancy
−$1.6K −$0.36/SF
EGI
$41.3K $9.36/SF
− OpEx
−$12.4K −$2.81/SF
NOI
$28.9K $6.55/SF
Area
Hampton, VA
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,640
Cap Rate 7%
$412,600
Cap Rate 9%
$320,911
Alternative Uses
Best Use
Office B
$827.6K
$724.1K – $965.5K
NOI $57,931 @ 7.0% cap · market cap 17.82%
Second Best
Flex RnD
$445.6K
$389.9K – $519.9K
NOI $31,193 @ 7.0% cap · market cap 9.60%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,243 @ 7.0% cap · market cap 24.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully leased office building includes four car/bay garages plus dedicated garage/workshop space.
Where is this office building located?
The property is located at 1283 N King St Hampton, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Fully leased office building with approx 4,400 SF of office space; Includes four car/bay garages plus dedicated garage/workshop space (approx 1,100 SF); Building fronts King Street and extends back toward Little Back River Road
