Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    21 Libby St Hampton, VA 23663
    Back to Search
    Property profile & analytics

    21 Libby St, Hampton, VA 23663

    View on Map
    • Land
    • 9.16 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 21 Libby St

    Lot size
    9.16 lot acres
    Property type
    Land

    Description

    This exceptional 9.16-acre commercial land parcel presents a unique development opportunity in Hampton, Virginia's vibrant Phoebus Historic District. Located at 21 Libby St, zip code 23663 (37.0177059, -76.325524), this property is zoned C-2, allowing for a diverse range of commercial uses. The asking price is $350,000. Ideal for developers seeking to capitalize on the area's rich history and growing economy, this site offers significant potential for various projects. Permitted uses specifically include hotels, restaurants, and motels, making it an attractive investment for hospitality ventures or mixed-use developments. The substantial lot size provides ample space for large-scale projects, while the prime location within the Phoebus Historic District ensures high visibility and accessibility. This is a rare opportunity to acquire a significant land holding in a desirable and thriving area of Hampton, Virginia. Serious inquiries are encouraged to explore the full potential of this exceptional property. The property's address is easily accessible via major roadways, offering convenient access for both residents and visitors. This location provides excellent visibility and exposure for any commercial enterprise. The C-2 zoning ensures flexibility in development plans, allowing for a wide range of possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.3255
    Latitude
    37.0177

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      20 Skyland Dr

      VACANT COMMERCIAL LAND
      20 Skyland Dr, Hampton, VA 23663-1225
      View Details
    • Value Estimation by Request
      0.12 Acres

      3 Curry St

      VACANT COMMERCIAL LAND
      3 Curry St, Hampton, VA 23663-1705
      View Details
    • Value Estimation by Request
      0.10 Acres

      13 Hope St

      VACANT COMMERCIAL LAND
      13 Hope St, Hampton, VA 23663-1746
      View Details
    • Value Estimation by Request
      0.08 Acres

      539 Mercury Blvd

      VACANT COMMERCIAL LAND
      539 Mercury Blvd, Hampton, VA 23663-2228
      View Details
    • Value Estimation by Request
      0.21 Acres

      Oakland Ave

      VACANT COMMERCIAL LAND
      Oakland Ave, Hampton, VA 23663
      View Details
    • Value Estimation by Request
      1.91 Acres

      1905 Pembroke Ave

      VACANT COMMERCIAL LAND
      1905 Pembroke Ave, Hampton, VA 23663-1325
      View Details

    Similar Nearby for Sale

    • $60,000
      0.20 Acres

      Residential Lot in Phoebus

      Single-family building lot near downtown Phoebus, close to amenities.
      217 Downes St, Hampton, VA 23663
      View Details
    • Contact for pricing

      Prime Hampton Development Opportunity

      Land parcel suitable for retail or multi-family development.
      4 N Mallory St, Hampton, VA 23663
      View Details
    • Contact for pricing

      Land Near Interstate Interchange

      Commercial land located near Interstate and Mallory Street.
      21 Libby St, Hampton, VA 23663
      View Details
    • $280,000

      Hampton, VA Townhome Lot

      Four townhome lot available in Hampton, Virginia.
      553 E Mercury Blvd, Hampton, VA 23663
      View Details
    • $425,000

      Hampton Townhome Lot For Sale

      Townhome lot for sale in Hampton, Virginia.
      30 County St W, Hampton, VA 23663
      View Details
    • Contact for pricing

      Commercial Land for Rent

      Commercial land available with easy access to local amenities.
      95 N Mallory St, Hampton, VA 23663
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Historic Office Space in Hampton

      Prime location with flexible lease terms and ample foot traffic.
      9 S Mallory St, Hampton, VA 23663
      View Details
    • Contact for pricing
      4,214 SF

      Retail Space in Historic Phoebus

      Retail space near restaurants, parks, Hampton University, and Fort Monroe.
      1 N Mallory St, Hampton, VA 23663
      View Details
    • Contact for pricing
      167 SF

      Office Space in Historic Phoebus

      Office space with flexible lease options and high visibility.
      25 S Mallory St, Hampton, VA 23663
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Hampton, VA

      Prime retail location with flexible lease terms available.
      15 E Mellen St, Hampton, VA 23663
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Hampton Center

      75,500 SF shopping center in populated Fox Hills area.
      2080-2098 Nickerson Blvd, Hampton, VA 23663
      View Details
    • Contact for pricing
      4,258 SF

      Second Floor Office Space Available

      Second floor office space available, accessible by elevator.
      51-95 N Mallory St, Hampton, VA 23663
      View Details
    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.
    21 Libby St
    Hampton, VA 23663
    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

    Thank You for Inquiry
    21 Libby St, Hampton, VA, 23663
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!