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    211 N 5Th Ave Hopewell, VA 23860
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    Property profile & analytics

    211 N 5Th Ave, Hopewell, VA 23860

    View on Map
    • Office Units
    • 1,574 SF
    Off-Market
    Property ID
    US87-1487045
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sandra L. White, LPC / Counselor
    • Walters Jerry M / Foster Care Service / Social Service Agency
    • Center For Urgent Counseling / Crisis Center / Medical Clinic
    • Mr. Donald Farr / Foster Care Service / Social Service Agency
    • Child & Family Counseling Services / Counselor

    Property Details for 211 N 5Th Ave

    Year built
    1951
    Property type
    Office Units
    Property subtype
    Commercial real estate

    Description

    Looking for that perfect cozy location in Hopewell/City Point to open a business? This may be the property that you are looking for! Located on a corner lot near historical Hopewell locations like The Beacon Theater and Randolph's Market, this location has limited off road parking, a 20x20 garage, t ... wo kitchens, two bathrooms and currently 5 office rooms, an interior reception area and sun room. Property is being sold as is/where is as a commercial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hopewell
    County
    Hopewell
    State
    Virginia
    Longitude
    -77.2917218
    Latitude
    37.3034418

    Comparable in this City

    • $800,000

      Versatile Commercial Property with Garage

      Commercial property featuring a garage, office, and essential amenities.
      3607 Woodlawn St, Hopewell, VA 23860
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    • $129,000
      672 SF

      Hopewell Commercial Building - Huge Potential

      Renovated building, endless possibilities, owner financing considered.
      2505 Oaklawn Blvd, Hopewell, VA 23860
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    • $850,000
      0.50 Acres

      Hopewell Commercial Corner Lot

      High-traffic location, restaurant potential.
      3904 Oaklawn Blvd, Hopewell, VA 23860
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    • Contact for pricing

      Commercial Land Near Fort Lee

      Two parcels totaling 0.46 acres near I-295 and Fort Lee.
      3951 Woodlawn St, Hopewell, VA 23860
      View Details
    • $40,000
      Pending

      Cleared Lot Ready to Build

      Level, cleared lot near Route 10, hospital, and downtown.
      5 N 5Th Ave, Hopewell, VA 23860
      View Details
    • $65,000

      224 S 15th Ave, Hopewell, VA 23860

      Commercial land
      224 S 15Th Ave, Hopewell, VA 23860
      View Details

    Similar Nearby for Sale

    • $800,000

      Versatile Commercial Property with Garage

      Commercial property featuring a garage, office, and essential amenities.
      3607 Woodlawn St, Hopewell, VA 23860
      View Details
    • $129,000
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      Hopewell Commercial Building - Huge Potential

      Renovated building, endless possibilities, owner financing considered.
      2505 Oaklawn Blvd, Hopewell, VA 23860
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    • $850,000
      0.50 Acres

      Hopewell Commercial Corner Lot

      High-traffic location, restaurant potential.
      3904 Oaklawn Blvd, Hopewell, VA 23860
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    • Contact for pricing

      Commercial Land Near Fort Lee

      Two parcels totaling 0.46 acres near I-295 and Fort Lee.
      3951 Woodlawn St, Hopewell, VA 23860
      View Details
    • $40,000
      Pending

      Cleared Lot Ready to Build

      Level, cleared lot near Route 10, hospital, and downtown.
      5 N 5Th Ave, Hopewell, VA 23860
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    • $65,000

      224 S 15th Ave, Hopewell, VA 23860

      Commercial land
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      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Well-Appointed Office Space Available

      Office space with shared conference room in downtown Hopewell.
      208 N 2Nd Ave, Hopewell, VA 23860
      View Details
    • Contact for pricing
      392 SF

      Downtown Office Space For Rent

      Office space available in downtown area with utilities included.
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    • $1,000 /Mo

      Office Spaces Available in Hopewell

      Various office spaces suitable for diverse businesses in Hopewell, VA.
      501 Westover Ave, Hopewell, VA 23860
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    • Contact for pricing
      4,595 SF

      Renovated Office Space Available

      Office space for lease with ongoing renovations and ample parking.
      710 S 6Th St, Hopewell, VA 23860
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      Retail Space in Hopewell, VA

      Retail units available in high-traffic Hopewell location.
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    • Contact for pricing

      Retail Shopping Center For Rent

      220,250 SF retail shopping center on 19.06 acres.
      5200-5260 Oaklawn Blvd, Hopewell, VA 23860
      View Details
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    211 N 5Th Ave
    Hopewell, VA 23860
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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.

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