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    2 Eaton St Hampton, VA 23669-4054

    • Office Properties & Spaces
    • 203,695 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2377721
    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

    • Weboffice Inc / Business Management Consultant
    • Terry N Grinnalds / Estate Planning Attorney / Family Law Attorney
    • Richard G Poinsett Law Office / Attorney / Bankruptcy Attorney
    • Brown Eleanor W / Attorney
    • The Tyson Legal Team, PLC / Attorney / Criminal Justice Attorney

    Property Details for 2 Eaton St

    Year built
    1987
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.51 lot acres
    Property size
    203,695 SF
    Zone code
    29 DT-2 DOWNTOWN WATERFRO
    Property type
    Office Properties & Spaces
    APN
    02J430 00 00000
    APU
    02J4300000000

    Description

    Harbour Centre, a Class A, 14-story office building located at 2 Eaton St, Hampton, VA 23669, offers 160,000 square feet of prime office space. This exceptional property boasts a desirable Downtown Hampton location, situated near Queens Way and Settlers Landing, within the Downtown (DT) - 2 zoning district. Built in 1987, the building provides multiple tenancy options, with spaces ranging from a minimum of 350 square feet to a maximum contiguous space of 15,000 square feet. Tenants enjoy convenient access to a 500-space covered parking garage, available 24/7. The Harbour Centre's strategic location offers unparalleled views of the water and the city skyline, and is within walking distance of a variety of amenities including shops, restaurants, museums, and a local brewery. Its proximity to Mill Point park, a popular venue for concerts and events, adds to its appeal. This exceptional property is part of the Virginia Peninsula submarket cluster and is an ideal location for businesses seeking a prestigious address in Hampton City County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $925,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.3412
    Latitude
    37.0256
    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
    $170,616
    $290,800
    $12,118,800
    $12,409,600
    -
    $290,800
    $12,118,800
    $12,409,600

    Comparable in this City

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      32 Queens Way

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      55 Queens Way

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      1204 Pembroke Ave

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      12,132 SF

      54 Old Hampton Ln

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    Similar Nearby for Sale

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      Downtown Hampton Office Building

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      Leased Office Building with Garages

      Turn-key, fully leased office building with garage bays for sale.
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    • $1,250,000
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      Downtown Waterfront Office Building

      Two-story office building in Hampton's Downtown Waterfront District.
      45 W Queens Way, Hampton, VA 23669
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      Downtown Hampton Cottage-Style Office Condominiums

      Three office condominiums in Hampton's renovated Downtown Waterfront District.
      100 Bridge St, Hampton, VA 23669
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      Renovated Commercial Buildings on Corner Lot

      Two renovated commercial buildings on a high-visibility corner lot.
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    • $325,000
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      Leased Office Building with Garages

      Fully leased office building with garage bays near Langley AFB.
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    Similar Nearby for Lease

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      Renovated Commercial Building on Corner

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      Hampton Office Space For Rent

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    • $14 SF/Yr
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      Hampton Office Space For Rent

      Office space available for lease in Hampton, Virginia.
      2 Eaton St, Hampton, VA 23669
      View Details
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      Hampton Office Space For Rent

      Office space available for lease in Hampton, Virginia.
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      Retail Space on Mercury Boulevard

      Retail space available for lease on West Mercury Boulevard.
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      Restaurant Ready Retail Space

      2,266 SF restaurant-ready space with built-in clientele.
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      View Details
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    Hampton, VA 23669-4054
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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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