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    Property profile & analytics

    305 Martha Lee Dr Hampton, VA 23666-3603

    • Office Properties & Spaces
    • 3,038 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2598668
    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

    • Action Realty / Real Estate Agency
    • Weddy Carter - Action Realty / Real Estate Agent
    • OVM with AnnieMac Home Mortgage / Mortgage Lender

    Property Details for 305 Martha Lee Dr

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.31 lot acres
    Property size
    3,038 SF
    Zone code
    14 C-2 LIMITED COMMERCIAL
    Property type
    Office Properties & Spaces
    APN
    03F004 00 00000
    APU
    03F0040000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $432,000
      Market price range: $195k - $593k
      AI Estimate
      $317,000
      Market price range: $72.1k - $479k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hampton
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.4273
    Latitude
    37.0289
    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
    $4,211
    $100,100
    $201,700
    $301,800
    -
    $100,100
    $201,700
    $301,800

    Comparable in this City

    • Value Estimation
      $230,000
      841 SF

      4000 Mercury Blvd, Unit U3

      OFFICE (GENERAL) • 841 SF
      4000 Mercury Blvd, Hampton, VA 23666-3700
      View Details
    • Value Estimation
      $1,230,000
      79,497 SF

      22 Enterprise Pkwy

      OFFICE (GENERAL) • 79,497 SF
      22 Enterprise Pkwy, Hampton, VA 23666-5844
      View Details
    • Value Estimation
      $1,070,000
      95,134 SF

      3460 Von Schilling Dr

      OFFICE (GENERAL) • 95,134 SF
      3460 Von Schilling Dr, Hampton, VA 23666-2066
      View Details
    • Value Estimation by Request
      6,826 SF

      1606 Aberdeen Rd

      OFFICE (GENERAL) • 6,826 SF
      1606 Aberdeen Rd, Hampton, VA 23666-3117
      View Details
    • Value Estimation
      $1,345,000
      65,149 SF

      1 Enterprise Pkwy

      OFFICE (GENERAL) • 65,149 SF
      1 Enterprise Pkwy, Hampton, VA 23666-5845
      View Details
    • Value Estimation
      $1,140,000
      96,446 SF

      400 Butler Farm Rd

      OFFICE (GENERAL) • 96,446 SF
      400 Butler Farm Rd, Hampton, VA 23666-1577
      View Details

    Similar Nearby for Sale

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      Hampton Office Space For Sale

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      Two-Story Office Building For Sale

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    • $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
    • $269,000

      Residential Development Land in Hampton

      3.4-acre parcel suitable for residential development in Hampton, Virginia.
      20 Hunt Club Blvd, Hampton, VA 23666
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    • $88,000
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      Hampton Land Parcel For Sale

      Land parcel in Hampton, VA, with city utilities available.
      1286 Big Bethel Rd, Hampton, VA 23666
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    Similar Nearby for Lease

    • $18 SF/Yr
      98,259 SF

      Hampton Office Space for Lease

      Modern suites, prime Hampton location.
      4410 Claiborne Sq, Hampton, VA 23666
      View Details
    • $16 SF/Yr
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      Hampton Roads Center Office Space

      Prime Executive Office Suites Available Now
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      View Details
    • $15 SF/Yr
      21,205 SF

      Claiborne Building Office Suites in Hampton

      Prime Hampton Office Space Available
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      View Details
    • $22 SF/Yr
      10,435 SF

      Hampton Executive Office Suites

      Prestigious Hampton office space, flexible options
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    • Contact for pricing
      16,658 SF

      Hampton Office Space for Lease

      Office space with generator, fiber internet, and convenient location.
      400 Butler Farm Rd, Hampton, VA 23666
      View Details
    • $17 SF/Yr
      1,528 SF

      Hampton Office Space For Rent

      Office space available for lease in Hampton, Virginia.
      2111 Hartford Rd, Hampton, VA 23666
      View Details
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    305 Martha Lee Dr
    Hampton, VA 23666-3603
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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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