Mixed-Use Building Near
2538 W Pembroke Avenue Hampton, VA 23661
For Sale
$575,000
Two-story commercial building with apartments and warehouse near I-664.
Property Size5,100 SF
Lot Size0.34 Acres
Price / SF$112.75
Days on Market1598
Property Features for 2538 W Pembroke Avenue
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Lot size
- 0.34 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1957
Listing Agency:
Long & Foster Real Estate Inc.
(757) 727-0069
Listed By:
Kyle Hause · License #0225143450
Source:
Exitrealty
Added: Mar 12, 2022
Changed: Jul 6
Last Checked: Jul 16 at 6:58AM
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.
This two-story commercial building fronts W Pembroke Avenue and backs up to I-664, offering proximity to two exits. The property includes 2538 & 2540 W Pembroke. The first floor features office and warehouse space. The second floor contains two, two-bedroom apartments with a private side entrance. A new roof has recently been installed. The property provides parking and a fenced-in back area. This setup is suitable for a live-at-business arrangement.
Key Highlights
- Commercial building with office, warehouse, and two 2‑bedroom apartments.
- Includes two adjacent properties: 2538 & 2540 W Pembroke.
- New roof recently installed.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.6k | $9.72 |
| − Vacancy | −$1.8k | −$0.36 |
| EGI | $47.7k | $9.36 |
| − OpEx | −$7.2k | −$1.40 |
| NOI | $40.6k | $7.96 |
5,100 SF · lease $9.72/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Office B
$957.5K
$837.8K – $1.12M
NOI $67,025 @ 7.0% cap · market cap 11.66%
Second Best
Mixed Use
$904.9K
$791.8K – $1.06M
NOI $63,342 @ 7.0% cap · market cap 11.02%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,840 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Mixed-use property - Two-story commercial building with apartments and warehouse near I-664.
Where is this mixed-use property located?
The property is located at 2538 W Pembroke Avenue Hampton, VA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Commercial building with office, warehouse, and two 2‑bedroom apartments.; Includes two adjacent properties: 2538 & 2540 W Pembroke.; New roof recently installed.
