Retail Space with Monument
For Sale
Contact for pricing
1721 N King St, Hampton, VA 23669
Retail building with monument signage and waterfront outdoor space on a 0.96-acre site.
Property Size3,861 SF
Lot Size0.96 Acres
Price / SF$118.88
Days on Market551
Property Features for 1721 N King St
General Information
Standard status
Active
Size
3,861 SF
Lot size
0.96 Acres
Property subtype
RETAIL
Listing Agency:
Campana Waltz Commercial Real Estate, LLC - West
(757) 209-2990
Listed By:
Ron A Campana Jr
Source:
Moodyscre
Added: Mar 14, 2025
Changed: Aug 15
Last Checked: Sep 15 at 10:11AM
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 retail space includes approximately 3,861 square feet of building area and 1,360 square feet of outdoor space on a 0.96-acre waterfront site. The property was previously used as a restaurant space, and the layout can support a range of professional retail or office uses.
The property is located at 1721 N King St in Hampton, VA 23669, with monument signage designed to support visibility. It is also in close proximity to Langley Air Force Base, which can be useful for tenant drawing power and day-to-day access.
With both building and outdoor space, this offering provides a flexible footprint for businesses looking for a prominent, sign-visible presence at the waterfront.
The property is located at 1721 N King St in Hampton, VA 23669, with monument signage designed to support visibility. It is also in close proximity to Langley Air Force Base, which can be useful for tenant drawing power and day-to-day access.
With both building and outdoor space, this offering provides a flexible footprint for businesses looking for a prominent, sign-visible presence at the waterfront.
Key Highlights
- 0.96‑acre waterfront property with 1,360 square feet of outdoor space
- Approximately 3,861 square feet of building area
- Monument signage for visibility
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
$40,433
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
8.81%
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%
$808,660
$808.7K
Cap Rate 7%
$577,614
$577.6K
Cap Rate 9%
$449,256
$449.3K
Market Conditions
NOI Build-Up for 3,861 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
$60.2K $15.60/SF
− Vacancy
−$2.5K −$0.64/SF
EGI
$57.8K $14.96/SF
− OpEx
−$17.3K −$4.49/SF
NOI
$40.4K $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%
$808,660
Cap Rate 7%
$577,614
Cap Rate 9%
$449,256
Alternative Uses
Best Use
Retail
$577.6K
$505.4K – $673.9K
NOI $40,433 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.6K – $1.17M
NOI $70,286 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with monument signage and waterfront outdoor space on a 0.96-acre site.
Where is this retail space located?
The property is located at 1721 N King St Hampton, VA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 0.96‑acre waterfront property with 1,360 square feet of outdoor space; Approximately 3,861 square feet of building area; Monument signage for visibility
