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    Property profile & analytics

    1066 Mercury Blvd Hampton, VA 23666-3378

    • Turn key restaurants
    • 6,446 SF
    • 0.79 lot acres
    OFF-MARKET
    Value Estimations
    $440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2351321
    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

    • Chili's Grill & Bar / Mexican Restaurant / Tex-Mex Restaurant
    • It's Just Wings / Restaurant / Chicken Wings Restaurant

    Property Details for 1066 Mercury Blvd

    Year built
    1987
    Construction
    WOOD
    Lot size
    0.79 lot acres
    Property size
    6,446 SF
    Zone code
    14 C-2 LIMITED COMMERCIAL
    Property type
    Turn key restaurants
    APN
    07H024 00 00000PC1D
    APU
    07H0240000000PC1D

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $695,000
      Market price range: $558k - $951k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.3852
    Latitude
    37.0428
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 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
    2023
    $31,270
    $862,500
    $1,737,700
    $2,600,200
    -
    $862,500
    $1,737,700
    $2,600,200

    Comparable in this City

    • Value Estimation
      $420,000
      15,368 SF

      1976 Power Plant Pkwy

      RESTAURANT • 15,368 SF
      1976 Power Plant Pkwy, Hampton, VA 23666-3156
      View Details
    • Value Estimation
      $505,000
      6,233 SF

      1940 Power Plant Pkwy

      RESTAURANT • 6,233 SF
      1940 Power Plant Pkwy, Hampton, VA 23666-3156
      View Details
    • Value Estimation
      $250,000
      1,808 SF

      2800 Mercury Blvd

      RESTAURANT • 1,808 SF
      2800 Mercury Blvd, Hampton, VA 23666-3928
      View Details
    • Value Estimation
      $380,000
      6,857 SF

      50 Town Ctr Way

      RESTAURANT • 6,857 SF
      50 Town Ctr Way, Hampton, VA 23666-1999
      View Details
    • Value Estimation
      $340,000
      8,561 SF

      55 Town Ctr Way

      RESTAURANT • 8,561 SF
      55 Town Ctr Way, Hampton, VA 23666-1999
      View Details
    • Value Estimation
      $280,000
      1,997 SF

      1811 Mercury Blvd

      RESTAURANT • 1,997 SF
      1811 Mercury Blvd, Hampton, VA 23666-3205
      View Details

    Similar Nearby for Sale

    • $2,500,000
      11,217 SF

      Hampton Retail Property: Prime Location

      11,217 SF Vacant Retail Building, High Traffic
      4813 Mercury Blvd, Hampton, VA 23666
      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 23666
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    • $1,500,000
      11,000 SF

      Retail Strip Center For Sale

      Freestanding retail strip center with high frontage and exposure.
      1928 N Armistead Ave, Hampton, VA 23666
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    • $640,000
      1 SF

      Prime Commercial Land in Hampton

      Thriving commercial district location near Peninsula Town Center and Hampton Roads.
      2601 Cunningham Dr, Hampton, VA 23666
      View Details
    • $90,000
      5.80 Acres

      Hampton Waterfront Estate Size Lot

      Approximately 5.8 acres in Pelican Shores on Back River.
      99 Pelican Shores Dr, Hampton, VA 23666
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    • $1,350,000
      3.26 Acres

      Hampton Commercial Land - Prime Location

      3.26 Acres, C-2 Zoning, High Traffic
      0 Campus Pkwy, Hampton, VA 23666
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,678 SF

      Freestanding Restaurant on Coliseum Drive

      Freestanding restaurant with high visibility and access on 0.36 acres.
      2034 Coliseum Dr, Hampton, VA 23666
      View Details
    • $16 SF/Yr
      20,000 SF

      Executive Crossing East Retail Spaces

      Prime Hampton retail space, multiple suites available.
      2280 Executive Dr, Hampton, VA 23666
      View Details
    • Contact for pricing
      20,000 SF

      Retail Pad Sites Available

      Retail spaces for ground lease or retrofit in Hampton, Virginia.
      4004 W Mercury Blvd, Hampton, VA 23666
      View Details
    • $18 SF/Yr
      11,217 SF

      Hampton Retail Opportunity

      Former Rite-Aid, 11,217 SF, 1.8 Acres
      4813 Mercury Blvd, Hampton, VA 23666
      View Details
    • Contact for pricing
      2,888 SF

      Retail Space in Peninsula Town

      Retail space for lease in Hampton's Peninsula Town Center.
      3961-3985 Kilgore Ave, Hampton, VA 23666
      View Details
    • $35 SF/Yr
      6,000 SF

      Retail Space Near Interstate 64

      Retail space available in Hampton, Virginia near Interstate 64.
      1072 W Mercury Blvd, Hampton, VA 23666
      View Details
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    1066 Mercury Blvd
    Hampton, VA 23666-3378
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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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