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

    24 Research Dr Hampton, VA 23666-1325

    • Industrial properties
    • 11,468 SF
    • 1.82 lot acres
    OFF-MARKET
    Last Sale
    Aug 12, 2021
    $750,000
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3863233
    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

    • Harbor Construction Co Inc / Electrician

    Property Details for 24 Research Dr

    Year built
    1994
    Lot size
    1.82 lot acres
    Property size
    11,468 SF
    Zone code
    49 LBP - LANGLEY BUSINESS
    Property type
    Industrial properties
    APN
    06M023 00 00000PCA
    APU
    06M0230000000PCA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $625,000
      ML approach
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $920,000
      Market price range: $472k - $1.22M
      AI Estimate
      $597,000
      Market price range: $256k - $1.07M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $830,000
      Current use
      WAREHOUSE, STORAGE
      $890,000
      Change: +7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.3899
    Latitude
    37.0898
    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
    $11,017
    $150,800
    $603,100
    $753,900
    -
    $150,800
    $603,100
    $753,900

    Comparable in this City

    • Value Estimation
      $790,000
      36,168 SF

      2000 Mercury Blvd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 36,168 SF
      2000 Mercury Blvd, Hampton, VA 23666-3109
      View Details
    • Value Estimation
      $295,000
      11,880 SF

      104 Research Dr

      INDUSTRIAL (GENERAL) • 11,880 SF
      104 Research Dr, Hampton, VA 23666-1306
      View Details
    • Value Estimation
      $400,000
      3,770 SF

      3201 Commander Shepard Blvd

      INDUSTRIAL (GENERAL) • 3,770 SF
      3201 Commander Shepard Blvd, Hampton, VA 23666-1598
      View Details
    • Value Estimation
      $395,000
      18,830 SF

      1980 Saville Row

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 18,830 SF
      1980 Saville Row, Hampton, VA 23666-4291
      View Details
    • Value Estimation
      $235,000
      1.00 Acre

      86 Research Dr

      INDUSTRIAL LOFT BUILDING • 1.00 Acre
      86 Research Dr, Hampton, VA 23666
      View Details
    • Value Estimation
      $3,645,000
      31,400 SF

      2010 Exploration Way

      INDUSTRIAL (GENERAL) • 31,400 SF
      2010 Exploration Way, Hampton, VA 23666-6260
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,425 SF

      Hampton Industrial Manufacturing Facility

      28,425 SF Manufacturing Building - VA
      3217 Cmdr Shepard Blvd, Hampton, VA 23666
      View Details
    • $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
      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
      View Details
    • $400,000
      1.97 Acres

      Hampton Roads Development Land

      1.97 Acres, HRC-2 Zoning, Prime Location
      0 Exploration Way, Hampton, VA 23666
      View Details
    • $475,000
      3,599 SF

      Freestanding Retail/Office Building on Mercury

      Freestanding retail/office building on Mercury Boulevard in Hampton, Virginia.
      2703 W Mercury Blvd, Hampton, VA 23666
      View Details
    • $88,000
      0.40 Acres

      Hampton Land Parcel For Sale

      Land parcel in Hampton, VA, with city utilities available.
      1286 Big Bethel Rd, Hampton, VA 23666
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      32,500 SF

      King Commerce Center Warehouse Space

      Hampton, VA Industrial Warehouse for Lease
      2010 Exploration Way, Hampton, VA 23666
      View Details
    • $7 SF/Yr
      4,027 SF

      Hampton Warehouse Space Available

      4027 SF warehouse space for lease in Hampton, Virginia.
      4019-4023 W Mercury Blvd, Hampton, VA 23666
      View Details
    • Contact for pricing
      275,685 SF

      Hampton Industrial Property For Lease

      Rear-loaded industrial space available in Hampton, Virginia.
      1008 N Campus Pkwy, Hampton, VA 23666
      View Details
    • Contact for pricing
      8,020 SF

      Hampton Office/Flex Building For Rent

      8,020 SF office/flex building with signage and drive-through doors.
      5 Manhattan Sq, Hampton, VA 23666
      View Details
    • $15 SF/Yr
      23,821 SF

      Hampton Industrial Flex Space

      Versatile Hampton flex space available.
      303 Butler Farm Rd, Hampton, VA 23666
      View Details
    • Contact for pricing
      230,874 SF

      Hampton Industrial Property For Lease

      Rear-loaded industrial property with modern features in Hampton, Virginia.
      1012 N Campus Pkwy, Hampton, VA 23666
      View Details
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    24 Research Dr
    Hampton, VA 23666-1325
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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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