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2010 Exploration Way, Hampton, VA 23666
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Property summary
AI-generated overview
This exceptional industrial property, the King Commerce Center, located at 2010 Exploration Way in Hampton, Virginia (zip code 23666), offers a prime opportunity for businesses seeking warehouse or distribution space. The building boasts a total of 32,500 square feet and is currently configured as a single-tenant building. However, there are two immediately available spaces, ranging from 1,850 to 3,700 square feet, representing a total of 3,700 square feet of vacant space. The building features desirable specifications including an 18-foot ceiling height, providing ample vertical storage capacity. Two dock-high doors ensure efficient loading and unloading operations. The property is zoned for Enterprise use, making it suitable for a wide range of industrial and distribution businesses. This location in Hampton, VA offers excellent access to major transportation arteries, facilitating seamless logistics and distribution. The property is ideal for businesses seeking flexible, high-quality warehouse space in a strategic location. Serious inquiries are encouraged to explore this exceptional leasing opportunity. Contact us today to schedule a viewing and discuss your specific needs.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2010
Construction
TYPE NOT SPECIFIED
Total area
31,400 SF
Lot
3.33 ac (144,837 SF)
Zoning code
33 HRC-2 HAMPTON ROADS CE
APN
06K012 00 00000PCD6
UPID
US87-2571235
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Storage Facility
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.76M
CAP Approach
CAP
$3.17M
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$4.01M
Owner & transaction history
since 2022
Last sale
$3.7M
2 recorded transactions
Zoning & alternative use
33 HRC-2 HAMPTON ROADS CE · Hampton, VA
Top alternative use upside
Auto repair, garage
$5.8M
+156.5%
Commercial (general)
$4.0M
+77.9%
Retail stores
$3.1M
+34.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.01M
Value range
$3.61M – $4.41M
±10% around blend
Estimated value / SF
$128 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$3.61M
blend $4.01M
$4.41M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
31,400 SF
Lot area
3.33 ac
Year built
2010
Stories
1
APN
06K012 00 00000PCD6
Zoning
33 HRC-2 HAMPTON ROADS CE
Assessed value
$3,412,200
Annual tax
$44,884
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.17M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.43M
@ 6.5% CAP return
$3.17M
@ 7% CAP return
$2.94M
4
Sales comparison
Partial preview
Sales approach indication
$3.34M
Range $1.29M – $3.34M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.01M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 19 sales
$72
+77%
County 19 sales
$72
+77%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $128/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+156%
vs current-use indication
Commercial (general)
Retail Stores
Warehouse, Storage
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
5.10%
Implied, in-place cap rate for this industrial properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.10%
9.0%
NOI (est.)
$259k *
Last sale · Apr 2022
$3.70M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$5.08M
Move the market yield to see immediate price impact.
Value / SF
$162
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.60%5.10%5.60%
$233k
$5.07M
$4.57M
$4.16M
$259k
$5.63M
$5.08M
$4.63M
$285k
$6.19M
$5.59M
$5.09M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$44,884
Tax year 2023
Assessed value
$3,412,200
Assessed 2024
Previous assessed
$3,306,400
+3.2% YoY
Effective rate
1.32%
On assessed value
Assessed land
$299,800
Assessed improvement
$3,112,400
Land market value
$299,800
Improvement market value
$3,112,400
Total market value
$3,412,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
2010
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
31,400 SF
Lot
3.33 ac (144,837 SF)
Zoning code
33 HRC-2 HAMPTON ROADS CE
APN
06K012 00 00000PCD6
UPID
US87-2571235
Jurisdiction
HAMPTON CITY
Zoning & alternative use
33 HRC-2 HAMPTON ROADS CE · Hampton, VAZoning 33 HRC-2 HAMPTON ROADS CE · permitted uses
33 HRC-2 HAMPTON ROADS CE · Hampton, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
3.33 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
33 HRC-2 HAMPTON ROADS CE
Jurisdiction
Hampton, VA
Recorded code
33 HRC-2 HAMPTON ROADS CE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for 33 HRC-2 HAMPTON ROADS CE in Hampton, VA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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