Building Details

Year Built 1950

Buildings 2

Listing Agency: Abbitt Realty Company LLC

Listed By: Carol Sobieski Show Phone

Source: Horakrealtygroup

Added: Aug 15 Changed: Oct 7 Last Checked: Oct 7 at 3:11PM

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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 Abbitt Realty Company LLC

Investment Insights

Based on property information with market context.

The sale includes two commercial buildings at 2420 and 2430 W. Mercury Blvd. The primary building contains 3,468 square feet and is configured as a beauty salon, with a broad entry area, partitioned workstations, a break area, five private offices, and two restrooms. Salon equipment conveys in its existing as-is condition. The second building provides a separate open interior with heating, air conditioning, and one bathroom.

The property offers 120 feet of frontage along W. Mercury Blvd. and is positioned near Coliseum Central and I-64. Zoning is C-2 under the Hampton City zoning ordinance.

Key Highlights

• Two commercial buildings sold together at 2420 and 2430 W. Mercury Blvd.
• 120' of frontage on W. Mercury Blvd.
• Primary building contains 3,468 sq. ft. of commercial space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,318

Cap Rate

4.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$726,360 $726.4K

Cap Rate 7%

$518,829 $518.8K

Cap Rate 9%

$403,533 $403.5K

Market Conditions

NOI Build-Up for 3,468 SF

Gross rent

$54.1K $15.60/SF

− Vacancy

−$2.2K −$0.64/SF

EGI

$51.9K $14.96/SF

− OpEx

−$15.6K −$4.49/SF

NOI

$36.3K $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 Rate 5%

$726,360

Cap Rate 7%

$518,829

Cap Rate 9%

$403,533

Alternative Uses

Best Use

Retail

$518.8K

$454.0K – $605.3K (±1% cap)

NOI $36,318 @ 7.0% cap · market cap 4.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$901.9K

$789.1K – $1.05M (±1% cap)

NOI $63,131 @ 7.0% cap · market cap 7.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Essence Of Beauty Total ... Hair Salon

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Big Box & Wholesale Store Electrical Service Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

694

Businesses Nearby

322k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 32% Dining 32% Apparel 12% Groceries 12%

Wawa Shops & Services

54,936 visits/mo 0.1 miles

Chick-fil-A Dining

37,493 visits/mo 0.4 miles

Walmart Neighborhood Market Groceries

37,354 visits/mo 0.4 miles

Marshalls Apparel

33,317 visits/mo 0.5 miles

Big Lots Superstores

17,271 visits/mo 0.3 miles

Demographics for 23666, VA

52,845

Population

25,117

Households

2.1

Avg Household Size

37

Median Age

27%

College-Educated

91%

High-School Grad

19.4 sq mi

ZIP Area

2,724

Density / Sq Mi

$70,798

Median Household Income

$42,552

Median Earnings

$1,439

Median Rent

$241,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - C-2-zoned commercial property with an operating salon layout and a separate open-plan building.

Where is this storefront property located?

The property is located at 2420 W Mercury Boulevard Hampton, VA.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Two commercial buildings sold together at 2420 and 2430 W. Mercury Blvd.; 120' of frontage on W. Mercury Blvd.; Primary building contains 3,468 sq. ft. of commercial space