Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4813 W Mercury Blvd Hampton, VA 23666

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Former Rite Aid located on West Mercury Boulevard.

    Type:Retail
    Property size:
    11,217 SF
    Lot size:
    1.80 Acres
    Added:
    Jan 19, 2024
    Days on Market:
    823
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 4813 W Mercury Blvd

    General Information

    Standard status
    Active
    Size
    11,217 SF
    Lot size
    1.80 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Doug Aronson

    Listing agent Doug Aronson License #VA 0225094359

    Listing office S.L. Nusbaum Realty Co

    Listing date Jan 19, 2024

    Source Crexi

    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 S.L. Nusbaum Realty Co

    Overview

    Former Rite Aid Available

    The property at 4813 West Mercury Boulevard in Hampton, VA, formerly a Rite Aid drug store, is available for sale or lease. The building is approximately 11,217 square feet and constructed of brick, featuring a double drive-thru. The site is 1.8 acres and includes 80 parking spaces. Situated at a signalized corner, the location benefits from an average daily traffic count of 45,000 vehicles. The property is two blocks from the Newmarket Fair redevelopment project, which includes a 185,000 square foot self-storage facility, offices, and outparcel retailers such as Chick-fil-A, Wawa, and Valvoline. The property is zoned C-2, which allows for most retail and recreation uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Pharmacy Western Union Bank Cardtronics ATM Atm Coinhub Bitcoin ATM ... Atm Richard G. Helmstutler, ... Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Jakeala — 7906 Marshall Ave A, Newport News, VA 23605
    • Richard G. Helmstutler, RPH — 4813 W Mercury Blvd, Hampton, VA 23605
    • Dana Maynor — 4813 W Mercury Blvd, Hampton, VA 236663727
    • Tyrell's shop — 811 79th st, newport news, va 23605
    • Work of Arch — 6022 Jefferson Ave Suite 102, Newport News, VA 23605

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    York
    State
    Virginia
    Longitude
    -76.4324951
    Latitude
    37.0246244

    Nearby Similar for Sale

    • $515,000
      3,558 SF

      Chiropractic Office Building For Sale

      Turnkey chiropractic office with established patient base and growth potential.
      2216 Executive Drive, Hampton, VA 23666
      View Details
    • $895,000
      3,437 SF

      Renovated Commercial Buildings on Corner Lot

      Two renovated commercial buildings on a high-visibility corner lot.
      1328 E Pembroke Avenue, Hampton, VA 23669
      View Details
    • $775,000

      Elmwood Trailer Park Investment Opportunity

      High-performance, 15-site trailer park on 2.58 acres.
      959 N King Street, Hampton, VA 23669
      View Details
    • $4,900,000
      66,200 SF

      Hampton Church and Classrooms Building

      Three-story, 66,200 sq ft building with classrooms and gymnasium.
      1228 Todds Lane, Hampton, VA 23666
      View Details
    • $575,000
      5,100 SF

      Mixed-Use Building Near I-664

      Two-story commercial building with apartments and warehouse near I-664.
      2538 W Pembroke Avenue, Hampton, VA 23661
      View Details
    • $325,000
      4,408 SF

      Leased Office Building with Garages

      Turn-key, fully leased office building with garage bays for sale.
      1283 N King Street, Hampton, VA 23669
      View Details
    • $850,000
      8,500 SF

      Historic Phoebus Mixed-Use Opportunity

      Two-story, 8,500 SF mixed-use property in Phoebus Business District.
      30 S Mallory St, Hampton, VA 23663
      View Details
    • $1,300,000
      3,964 SF

      Medical Condo in Coliseum Central

      Professionally maintained medical condo leased to Sentara Medical Group.
      2104 Executive Dr, Hampton, VA 23666
      View Details
    • $420,000
      3,000 SF

      Hampton Office Space For Sale

      3000 sqft office space suitable for medical practice.
      2200 Executive Drive, Hampton, VA 23666
      View Details
    • $1,400,000
      3,808 SF

      Downtown Hampton Commercial Property For Sale

      Commercial property in vibrant downtown Hampton with high traffic volume.
      550 Settlers Landing Rd, Hampton, VA 23669
      View Details
    • $475,000
      3,599 SF

      Freestanding Retail/Office Building on Mercury

      Freestanding retail/office building on Mercury Boulevard in Hampton, Virginia.
      2703 W Mercury Blvd, Hampton, VA
      View Details
    • $459,000
      2,500 SF

      Waterfront Retail or Office Space

      Versatile waterfront property suitable for retail or office use.
      1721 N King St, Hampton, VA
      View Details

    FAQs

    What type of property is this?
    Drug store - Former Rite Aid located on West Mercury Boulevard.
    Where is this drug store located?
    The property is located at 4813 W Mercury Blvd Hampton, VA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Located at a **signalized corner with high traffic (45,000 vehicles daily)**.; **1.8‑acre site with 80 parking spaces.**; Proximity to Newmarket Fair Redevelopment Project (185,000sf self‑storage, offices, Chick‑fil‑A, Wawa, Valvoline).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Doug Aronson
    Real Estate License ID: VA 0225094359
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!