Downtown Hampton Commercial Property For
For Sale
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550 Settlers Landing Rd, Hampton, VA 23669
Commercial property in vibrant downtown Hampton with high traffic volume.
Property Size3,808 SF
Price / SF$367.65
Days on Market174
Property Features for 550 Settlers Landing Rd
General Information
Standard status
Active
Size
3,808 SF
Class
A
Total Parking Spaces
27
Property subtype
Office, Retail
Zoning
DT-2 Mixed Uses
Investment Type
Owner/User
Building Details
Year Built
1973
Buildings
1
Stories
1
Listing Agency:
Harvey Lindsay Commercial Real Estate
(757) 640-9290
Listed By:
Michael Allen, CCIM · License #VA 0225228674
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 9 at 3:41PM
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 Harvey Lindsay Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in downtown Hampton at the signalized intersection of Settlers Landing Road and Bridge Street, this commercial property offers a strong amenity base with numerous restaurants and retail options within walking distance. The property features signage opportunities on the building and a monument sign on Settlers Landing Road. It has one drive-through lane and frontage of 193 linear feet on Settlers Landing Road and 123 linear feet on Bridge Street. The property includes 27 parking spaces, providing a ratio of 5.52 spaces per 1,000 square feet. Traffic counts on Settlers Landing Road average 12,029 vehicles per day. The property size is 3,808 square feet.
Key Highlights
- Prime downtown Hampton location at a signalized intersection.
- High visibility with frontage on Settlers Landing Road (193 ft) and Bridge Street (123 ft).
- Ample parking with 27 spaces.
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
$50,046
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
3.57%
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%
$1,000,920
$1.0M
Cap Rate 7%
$714,943
$714.9K
Cap Rate 9%
$556,067
$556.1K
Market Conditions
NOI Build-Up for 3,808 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
$75.4K $19.80/SF
− Vacancy
−$8.7K −$2.28/SF
EGI
$66.7K $17.52/SF
− OpEx
−$16.7K −$4.38/SF
NOI
$50.0K $13.14/SF
Area
Hampton, VA
Vacancy
11.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,000,920
Cap Rate 7%
$714,943
Cap Rate 9%
$556,067
Alternative Uses
Best Use
Office B
$714.9K
$625.6K – $834.1K
NOI $50,046 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$569.7K
$498.5K – $664.6K
NOI $39,878 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$990.3K
$866.5K – $1.16M
NOI $69,321 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Commercial property in vibrant downtown Hampton with high traffic volume.
Where is this retail property located?
The property is located at 550 Settlers Landing Rd Hampton, VA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime downtown Hampton location at a signalized intersection.; High visibility with frontage on Settlers Landing Road (193 ft) and Bridge Street (123 ft).; Ample parking with 27 spaces.
