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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Retail space
3 Mellen St Hampton, VA 23663-1709
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0386262
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1922
Construction
WOOD
Total area
5,330 SF
Lot
0.08 ac (3,485 SF)
Zoning code
46 PH-1 PHOEBUS URBAN COR
APN
12F238 00 00000
UPID
US87-0386262
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$760k
Owner & transaction history
Phoebus Group LLC · 7 yrs held
Phoebus Group LLC
since 2018
2 recorded transactions
Zoning & alternative use
46 PH-1 PHOEBUS URBAN COR · Hampton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$990,000
+90.3%
Commercial (general)
$685,000
+32.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hampton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hampton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$930,000
6.5%
$860,000
7%
$795,000
Alternative Use
Use
Estimation
RETAIL STORES
$520,000
Current use
AUTO REPAIR, GARAGE
$990,000
Change: +90% · Conversion: Difficult
COMMERCIAL (GENERAL)
$685,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$143 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,114
Tax year 2023
Assessed value
$735,500
Assessed 2024
Previous assessed
$735,500
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$44,400
Assessed improvement
$691,100
Land market value
$44,400
Improvement market value
$691,100
Total market value
$735,500
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1922
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Rooms
2
Total area
5,330 SF
Lot
0.08 ac (3,485 SF)
Zoning code
46 PH-1 PHOEBUS URBAN COR
APN
12F238 00 00000
UPID
US87-0386262
Jurisdiction
HAMPTON CITY
Zoning & alternative use
46 PH-1 PHOEBUS URBAN COR · Hampton, VA
Zoning 46 PH-1 PHOEBUS URBAN COR · permitted uses
46 PH-1 PHOEBUS URBAN COR · Hampton, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hampton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$520,000
AUTO REPAIR, GARAGE
Est. value
$990,000
COMMERCIAL (GENERAL)
Est. value
$685,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1922
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Rooms
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
Phoebus Group LLC
Entity
Mailing address
4505 TOTTERIDGE LN, VIRGINIA BEACH, VA 23462-7771
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2018
$442,500
Phoebus Group LLC
Wbh109 LLC
Special Warranty Deed
$331,875 · Newport News Shipbuilding Employees
May 3, 2013
$330,000
Wbh109 LLC
Hf Holdings 1 LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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