Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3258 George Washington Memorial Hwy Hayes, VA 23072-3312
    Back to Search
    Property profile & analytics

    3258 George Washington Memorial Hwy, Hayes, VA 23072-3312

    View on Map
    • Office buildings
    • 2,284 SF
    • 3.09 lot acres
    Off-Market
    Property ID
    US87-1775619
    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

    • Office buildings

    Property Details for 3258 George Washington Memorial Hwy

    Year built
    1936
    Lot size
    3.09 lot acres
    Zone code
    B-2
    Property type
    Office buildings
    APN
    34839
    APU
    34839

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 6, 2024 — Gloucester Commons Townhouses LLC — Deed · related $500k · Chesapeake Bank

    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
    Hayes
    County
    Gloucester
    State
    Virginia
    Longitude
    -76.5125
    Latitude
    37.2965
    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
    2024
    $3,524
    $197,030
    $407,370
    $604,400
    -
    $197,030
    $407,370
    $604,400

    Comparable in this City

    • Value Estimation
      $625,000
      3,086 SF

      4173 George Washington Memorial Hwy

      OFFICE BUILDING
      4173 George Washington Memorial Hwy, Hayes, VA 23072-2931
      View Details
    • Value Estimation by Request
      0.48 Acres

      2201 Hayes Rd

      OFFICE BUILDING
      2201 Hayes Rd, Hayes, VA 23072-3519
      View Details
    • Value Estimation by Request
      3,000 SF

      7007 Ernest Ln

      OFFICE BUILDING
      7007 Ernest Ln, Hayes, VA 23072-2941
      View Details
    • Value Estimation by Request
      2,409 SF

      3765 George Washington Memorial Hwy

      OFFICE BUILDING
      3765 George Washington Memorial Hwy, Hayes, VA 23072-3001
      View Details
    • Value Estimation by Request
      3,023 SF

      4073 George Washington Memorial Hwy

      OFFICE BUILDING
      4073 George Washington Memorial Hwy, Hayes, VA 23072-2930
      View Details
    • Value Estimation by Request
      2,657 SF

      4794 George Washington Memorial Hwy

      OFFICE BUILDING
      4794 George Washington Memorial Hwy, Hayes, VA 23072-2835
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Dental Office Near Coleman Bridge

      Dental office space with nitrous oxide line in place.
      2656 George Washington Memorial Hwy, Gloucester Point, VA 23072
      View Details
    • $1,250,000
      10,844 SF

      Hayes Warehouse and Office Building

      10,000+ sqft warehouse/office in Hayes, VA with secure yard.
      2521 Hayes Rd, Hayes, VA 23072
      View Details
    • $150,000
      1,120 SF

      Partially Built-Out Office Unit

      Partially framed office space offers a framework for an owner to finish build-out to suit their needs.
      7194 Chapman Dr, Hayes, VA 23072
      View Details
    • $100,000
      0.62 Acres

      Commercial Lot on Route 17

      Commercial lot for sale with frontage on Route 17.
      4466 George Washington Memorial Hwy, Hayes, VA 23072
      View Details
    • $150,000
      1,120 SF

      Retail Space in Hayes, VA

      Retail space available for purchase in Hayes, Virginia.
      7192 Chapman Dr, Hayes, VA 23072
      View Details
    • Contact for pricing

      Waterfront Land with River View

      Cleared waterfront lot with outbuildings and sunset views.
      46ac Horse Rd, Hayes, VA 23072
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      Gloucester Point Office Space Available

      Office space available for lease in Gloucester Point, Virginia.
      3051-3077 George Washington Memorial Hwy, Gloucester Point, VA 23072
      View Details
    • Contact for pricing

      Route 17 Outparcels Available

      Two outparcels for ground lease or build-to-suit on Route 17.
      4794 George Washington Memorial Hwy, Hayes, VA 23072
      View Details
    • Contact for pricing
      2,155 SF

      Retail Space on George Washington

      Retail space available on George Washington Memorial Highway.
      4870-4926 George Washington Memorial Hwy, Hayes, VA 23072
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Gloucester Point

      Retail space available for lease in Gloucester Point, Virginia.
      2349-2417 York Crossing Dr, Gloucester Point, VA 23072
      View Details
    • Contact for pricing
      898 SF

      Retail Space in Gloucester Point

      Retail space available for lease in Gloucester Point, VA.
      2268-2354 York Crossing Dr, Gloucester Point, VA 23072
      View Details
    • Contact for pricing
      2,124 SF

      Retail Space in Gloucester, VA

      Retail space available for lease in Gloucester, Virginia.
      2323 George Washington Memorial Hwy, Gloucester, VA 23072
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3258 George Washington Memorial Hwy
    Hayes, VA 23072-3312
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3258 George Washington Memorial Hwy, Hayes, VA, 23072
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!