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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    105 Main St Hopewell, VA 23860-2718

    • Banks
    • 2,000 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2217598
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Teamsters Local Union 101 / Labor Union

    Property Details for 105 Main St

    Year built
    1977
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.37 lot acres
    Property size
    2,000 SF
    Zone code
    B1
    Property type
    Banks
    APN
    080-0055
    APU
    800055

    Description

    This exceptional 1,224 square foot commercial building is ideally situated on Main Street in the heart of Downtown Hopewell, Virginia. Boasting a prominent road frontage, this brick structure enjoys a highly visible location adjacent to the Courthouse and a short distance from the Municipal Building and the historic Beacon Theatre. Previously utilized as a credit union and more recently as business office/meeting space, the property offers versatile potential for a variety of uses. The building features a charming courtyard, three drive-through lanes with a canopy, and eight reserved parking spaces, supplemented by additional public parking nearby. The interior showcases exposed brick walls, two private offices, a lobby area with desks, an open conference area with a table, and a flexible open space. Two bathrooms, an employee break room/kitchen equipped with a refrigerator, table, dishwasher, and microwave, and a coat closet provide ample amenities. Included in the sale are existing signage, furniture, mini-split HVAC units, a refrigerator, and a microwave. The property sits on a 0.37-acre lot and is zoned B-1 (details available in supplemental documents). Priced competitively below its assessed value of $448,900, this presents a significant opportunity for investors and businesses alike. Further information regarding the Hopewell Enterprise Zone and Virginia State Opportunity Zone is available in supplemental documents. This property is well-suited for a small business, real estate office, attorney's office, retail space, coffee shop, bakery, or non-profit organization.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $200,000
      AUTO REPAIR, GARAGE
      $150,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hopewell
    County
    Hopewell City
    State
    Virginia
    Longitude
    -77.2869
    Latitude
    37.3027
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,252
    $96,500
    $352,400
    $448,900
    -
    $96,500
    $352,400
    $448,900

    Comparable in this City

    • Value Estimation
      $325,000
      5,444 SF

      106 2nd Ave

      FINANCIAL BUILDING • 5,444 SF
      106 2nd Ave, Hopewell, VA 23860-2702
      View Details
    • Value Estimation
      $255,000
      2,397 SF

      1421 City Pt Rd

      FINANCIAL BUILDING • 2,397 SF
      1421 City Pt Rd, Hopewell, VA 23860-3711
      View Details
    • Value Estimation
      $220,000
      2,772 SF

      Cavalier Sq

      FINANCIAL BUILDING • 2,772 SF
      Cavalier Sq, Hopewell, VA 23860
      View Details
    • Value Estimation
      $130,000
      366 SF

      109 2nd Ave

      FINANCIAL BUILDING • 366 SF
      109 2nd Ave, Hopewell, VA 23860
      View Details
    • Value Estimation
      $265,000
      3,846 SF

      101 City Pt Rd

      FINANCIAL BUILDING • 3,846 SF
      101 City Pt Rd, Hopewell, VA 23860-3900
      View Details
    • Value Estimation
      $270,000
      2,436 SF

      425 15th Ave

      FINANCIAL BUILDING • 2,436 SF
      425 15th Ave, Hopewell, VA 23860-4507
      View Details

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    Similar Nearby for Lease

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      View Details
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    105 Main St
    Hopewell, VA 23860-2718
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    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
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