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Property profile & analytics
OFF-MARKET
Estimated value
$21,290,000
High-rise multifamily apartments
15 Michigan Dr Hampton, VA 23669-3822
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2373280
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1966
Construction
WOOD
Total area
86,292 SF
Lot
5.46 ac (237,838 SF)
Zoning code
9 R-M MULTIPLE RESIDENTIA
APN
02C021A02 000000
UPID
US87-2373280
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.29M
Owner & transaction history
102 Michigan Drive LLC · 3 yrs held
102 Michigan Drive LLC
since 2022
Last sale
$22.0M
1 recorded transaction
Zoning & alternative use
9 R-M MULTIPLE RESIDENTIA · Hampton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hampton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hampton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$23,845,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$15,330,000
6.5%
$14,150,000
7%
$13,140,000
Blend value · Realmo final
$21.29M
Range $19.16M – $23.42M · ±10% · vs last sale $22.00M (Sep 20 2022)
Last sale anchor
$22.00M
Sep 20 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$247 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$90,328
Tax year 2023
Assessed value
$7,786,900
Assessed 2024
Previous assessed
$7,786,900
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,530,000
Assessed improvement
$6,256,900
Land market value
$1,530,000
Improvement market value
$6,256,900
Total market value
$7,786,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Rooms
102
Total area
86,292 SF
Lot
5.46 ac (237,838 SF)
Zoning code
9 R-M MULTIPLE RESIDENTIA
APN
02C021A02 000000
UPID
US87-2373280
Jurisdiction
HAMPTON CITY
Zoning & alternative use
9 R-M MULTIPLE RESIDENTIA · Hampton, VA
Zoning 9 R-M MULTIPLE RESIDENTIA · permitted uses
9 R-M MULTIPLE RESIDENTIA · Hampton, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hampton. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Rooms
102
Lot
5.46 ac
Current owner
From public records · entity-resolved
102 Michigan Drive LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2410 EVERGREEN RD STE #105, GAMBRILLS, MD 21054-1979
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2022
$22,000,000
102 Michigan Drive LLC
Hampton Redevelopment And Housing A
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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