Multifamily
New
For Sale
$285,000
2508 Shell Rd, Hampton, VA 23661
Offered in as-is condition, with property and use due diligence assigned to the buyer.
Property Size2,208 SF
Lot Size0.54 Acres
Price / SF$129.08
Days on Market6
Property Features for 2508 Shell Rd
General Information
Standard status
Active
Size
2,208 SF
Lot size
0.54 Acres
Property subtype
Multi Family Home
Site & Location
Neighborhood
Greater Wythe
Building Details
Building Size
2,208 SF
Year Built
1900
Listing Agency:
Redfin Corporation
(703) 665-6665
Listed By:
Chasin Washington
(571) 730-7004
Source:
Hoggerealestate
Added: Oct 26
Changed: Oct 30
Last Checked: Oct 31 at 1:32AM
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 Redfin Corporation
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property in Hampton contains 2,208 square feet on a 0.54-acre parcel. Constructed in 1900, the property is being conveyed in as-is condition.
Shopping, dining, military installations, major highways, and other everyday amenities are identified in the surrounding Hampton and Peninsula area. The buyer is responsible for investigating property condition, zoning, permitted use, and potential rental income.
Shopping, dining, military installations, major highways, and other everyday amenities are identified in the surrounding Hampton and Peninsula area. The buyer is responsible for investigating property condition, zoning, permitted use, and potential rental income.
Key Highlights
- 2,208 square feet of multifamily space
- 0.54‑acre parcel
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,535
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,700
$470.7K
Cap Rate 7%
$336,214
$336.2K
Cap Rate 9%
$261,500
$261.5K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$45.0K $20.40/SF
− Vacancy
−$2.3K −$1.02/SF
EGI
$42.8K $19.38/SF
− OpEx
−$19.3K −$8.72/SF
NOI
$23.5K $10.66/SF
Area
Hampton, VA
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,700
Cap Rate 7%
$336,214
Cap Rate 9%
$261,500
Alternative Uses
Best Use
Apartment 5plus
$336.2K
$294.2K – $392.3K
NOI $23,535 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.2K
$502.4K – $669.9K
NOI $40,194 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 23661, VA
13,771
Population
6,614
Households
2.1
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
4.7 sq mi
ZIP Area
2,930
Density / Sq Mi
$66,760
Median Household Income
$44,399
Median Earnings
$1,224
Median Rent
$200,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Offered in as-is condition, with property and use due diligence assigned to the buyer.
Where is this multifamily property located?
The property is located at 2508 Shell Rd Hampton, VA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,208 square feet of multifamily space; 0.54‑acre parcel; Built in 1900
