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

    1915 Commerce Dr Hampton, VA 23666-4246

    • Motels
    • 46,641 SF
    • 3.00 lot acres
    OFF-MARKET
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3217906
    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

    • Leons Web Design / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Extended Stay America - Hampton - Coliseum / Hotel & Motel / Vacation Rental

    Property Details for 1915 Commerce Dr

    Year built
    2003
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.00 lot acres
    Property size
    46,641 SF
    Zone code
    14 C-2 LIMITED COMMERCIAL
    Property type
    Motels
    APN
    07F007J00 00000
    APU
    07F007J0000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $839,000
      Market price range: $701k - $1.22M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $795,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.3891
    Latitude
    37.0378
    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
    $71,014
    $1,568,200
    $3,743,600
    $5,311,800
    -
    $1,568,200
    $3,743,600
    $5,311,800

    Comparable in this City

    • Value Estimation
      $1,115,000
      56,048 SF

      1813 Mercury Blvd

      HOTEL/MOTEL • 56,048 SF
      1813 Mercury Blvd, Hampton, VA 23666-3205
      View Details
    • Value Estimation
      $920,000
      83,103 SF

      1917 Coliseum Dr

      MOTEL • 83,103 SF
      1917 Coliseum Dr, Hampton, VA 23666-4234
      View Details
    • Value Estimation
      $910,000
      55,833 SF

      1616 Hardy Cash Dr

      MOTEL • 55,833 SF
      1616 Hardy Cash Dr, Hampton, VA 23666-2400
      View Details
    • Value Estimation by Request
      97,908 SF

      1851 Merchant Ln

      HOTEL/MOTEL • 97,908 SF
      1851 Merchant Ln, Hampton, VA 23666-2950
      View Details
    • Value Estimation by Request
      0.04 Acres

      2708 Mercury Blvd

      HOTEL/MOTEL • 0.04 Acres
      2708 Mercury Blvd, Hampton, VA 23666-3108
      View Details
    • Value Estimation by Request
      31,248 SF

      1925 Coliseum Dr

      MOTEL • 31,248 SF
      1925 Coliseum Dr, Hampton, VA 23666-4234
      View Details

    Similar Nearby for Sale

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      4.50 Acres

      Hampton Development Opportunity: 4.54 Acres

      4.54-acre parcel for residential development near amenities.
      1457 Todds Ln, Hampton, VA 23666
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      Prime Retail Outparcel on Mercury

      0.92 acre outparcel on Hampton's primary retail corridor.
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      Treelined Residential Lot For Sale

      Residential lot with mature trees, suitable for building a house.
      23 Big Bethel Rd, Hampton, VA 23666
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      Hampton Commercial Land - 1.43 Acres

      High-visibility lot, ideal for commercial development.
      4800 Mercury Blvd, Hampton, VA 23666
      View Details
    • $87,400
      0.95 Acres

      Hampton, VA Building Lot

      Large corner lot suitable for single-family home construction.
      43 Woods Ln, 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
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    Similar Nearby for Lease

    • $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
      11,023 SF

      Office Space with Lakefront Views

      Sublease office space with lakefront views and convenient access.
      22 Enterprise Pkwy, Hampton, VA 23666
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    • $16 SF/Yr
      61,488 SF

      Hampton Roads Center Office Space

      Prime Executive Office Suites Available Now
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    • $17 SF/Yr
      22,218 SF

      Class A Office Space Available

      Class A office building with suites available for lease.
      903 Enterprise Pkwy, Hampton, VA 23666
      View Details
    • Contact for pricing
      2,850 SF

      Functional Office Space For Rent

      Office space near hospital, shopping, and major transportation routes.
      2236 Todds Ln, Hampton, VA 23666
      View Details
    • Contact for pricing
      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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    1915 Commerce Dr
    Hampton, VA 23666-4246
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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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