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Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Warehouses
402 Rip Rap Rd Hampton, VA 23669
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2364795
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1949
Construction
TYPE NOT SPECIFIED
Total area
8,210 SF
Lot
0.94 ac (41,155 SF)
Zoning code
17 M-3 HEAVY MANUFACTURIN
APN
08B005 00 00000PC1
UPID
US87-2364795
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
Current use
Occupant on record · Public records
-
Herc Rentals ProSolutions (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.13M
Owner & transaction history
Mp13 Hampton LLC · 2 yrs held
Mp13 Hampton LLC
since 2023
Last sale
$2.3M
3 recorded transactions
Zoning & alternative use
17 M-3 HEAVY MANUFACTURIN · Hampton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+138.9%
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
$1,980,000
ML approach
$1,930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,525,000
Change: +139% · Conversion: Easy
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±10% · vs last sale $2.30M (Oct 5 2023)
Last sale anchor
$2.30M
Oct 5 2023
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
$259 / 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
$5,788
Tax year 2023
Assessed value
$521,900
Assessed 2024
Previous assessed
$376,600
+38.6% YoY
Effective rate
1.11%
On assessed value
Assessed land
$164,600
Assessed improvement
$357,300
Land market value
$164,600
Improvement market value
$357,300
Total market value
$521,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1949
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
8,210 SF
Lot
0.94 ac (41,155 SF)
Zoning code
17 M-3 HEAVY MANUFACTURIN
APN
08B005 00 00000PC1
UPID
US87-2364795
Jurisdiction
HAMPTON CITY
Zoning & alternative use
17 M-3 HEAVY MANUFACTURIN · Hampton, VA
Zoning 17 M-3 HEAVY MANUFACTURIN · permitted uses
17 M-3 HEAVY MANUFACTURIN · 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
AUTO REPAIR, GARAGE
Est. value
$1.5M
AUTO REPAIR, GARAGE
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
1949
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
0.94 ac
Current owner
From public records · entity-resolved
Mp13 Hampton LLC
Entity
Free & Clear · 2 yrs held
Mailing address
701 LK ST E STE #250, WAYZATA, MN 55391-1778
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2023
—
Mp13 Hampton LLC
—
Deed
related
$2,150,000 · Bel Bank
Oct 5, 2023
$2,300,000
Mp13 Hampton LLC
Armistead And Riprap LLC
Warranty Deed
—
Apr 10, 2017
$379,900
Armistead & Riprap LLC A Virginia L
Lockwood Brothers INC A Virginia Co
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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