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    Property profile & analytics

    2538 W Pembroke Ave Hampton, VA 23661

    • Retail space
    • 5,100 SF
    • 0.17 lot acres
    For Sale
    View listing
    $575,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2298256
    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

    • Retail space

    Property Details for 2538 W Pembroke Ave

    Year built
    1957
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    5,100 SF
    Zone code
    15 C-3 GENERAL COMMERCIAL
    Property type
    Retail space
    APN
    01A001 00 07011
    APU
    01A0010007011

    Description

    This exceptional Hampton, VA commercial property presents a unique investment opportunity. Located at 2538 & 2540 W Pembroke Avenue, this two-story building boasts high visibility, fronting directly on W Pembroke Avenue and conveniently backing up to I-664, with proximity to two interstate exits. The ground floor offers a versatile layout combining office space and warehouse facilities, ideal for a variety of businesses. Adding to its income potential, the second floor features two separate two-bedroom apartments, each with its own private side entrance, providing a significant rental income stream. This live-work setup is perfect for an owner-operator seeking both business space and residential accommodation. The property sits on a 0.34-acre lot and includes ample parking, enhanced by a secure fenced-in rear area. Recent improvements include a brand-new roof, ensuring long-term value and minimizing immediate maintenance needs. The property is in excellent condition and ready for immediate occupancy. This is a rare opportunity to acquire a well-maintained, dual-income generating commercial property in a highly desirable Hampton location. The asking price is $675,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $277,000
      Market price range: $277k - $731k
      AI Estimate
      $257,000
      Market price range: $257k - $757k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.4061
    Latitude
    36.9991
    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
    $1,640
    $35,200
    $99,100
    $134,300
    -
    $35,200
    $99,100
    $134,300

    Comparable in this City

    • Value Estimation
      $245,000
      0.17 Acres

      2540 Pembroke Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.17 Acres
      2540 Pembroke Ave, Hampton, VA 23661-1710
      View Details
    • Value Estimation
      $245,000
      4,667 SF

      2613 Kecoughtan Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,667 SF
      2613 Kecoughtan Rd, Hampton, VA 23661-3322
      View Details
    • Value Estimation
      $125,000
      2,279 SF

      2615 Kecoughtan Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,279 SF
      2615 Kecoughtan Rd, Hampton, VA 23661-3322
      View Details
    • Value Estimation
      $265,000
      5,000 SF

      1231 Pembroke Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1231 Pembroke Ave, Hampton, VA 23661-1121
      View Details
    • Value Estimation
      $250,000
      3,000 SF

      1809 Kecoughtan Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      1809 Kecoughtan Rd, Hampton, VA 23661-2833
      View Details
    • Value Estimation
      $250,000
      864 SF

      2033 Pembroke Ave

      RETAIL STORES (PERSONAL SERVICES) • 864 SF
      2033 Pembroke Ave, Hampton, VA 23661-1702
      View Details

    Similar Nearby for Sale

    • $575,000
      0.34 Acres

      Commercial Building with Residential Income

      Two-story commercial building with apartments and warehouse near I-664.
      2538 W Pembroke Ave, Hampton, VA 23661
      View Details
    • $575,000
      5,100 SF

      Commercial Building with Apartments

      Two-story commercial building with warehouse and apartments for sale.
      2538 W Pembroke Ave, Hampton, VA 23661
      View Details
    • $675,000
      0.34 Acres

      Hampton Commercial Building Investment

      Prime Hampton Location, Dual-Income Potential
      2538 Pembroke Ave, Hampton, VA 23661
      View Details
    • $998,000
      11,310 SF

      Move-In Ready Worship Space

      Exceptional church property with versatile facilities and a prime location.
      162 Alleghany Rd, Hampton, VA 23661
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    • $200,000
      2,304 SF

      Hampton Group Home Opportunity

      Nine-bedroom group home needing renovations in Hampton, Virginia.
      702 Delaware Ave, Hampton, VA 23661
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    • $30,000
      0.08 Acres

      Land Opportunity in Hampton, VA

      Land available in Hampton, VA. Approximately 0.08 acres.
      732 Vaughan Ave, Hampton, VA 23661
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      9,000 SF

      Hampton Roads Flex Space Available

      9,000 SF Flex/Warehouse in Copeland Industrial Park
      2503 58Th St, Hampton, VA 23661
      View Details
    • Contact for pricing
      20,000 SF

      Hampton Warehouse Space Available

      20,000 sq ft warehouse space for rent.
      2100 Aluminum Ave, Hampton, VA 23661
      View Details
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    Hampton, VA 23661
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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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