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Property profile & analytics
OFF-MARKET
Estimated value
$1,035,000
Warehouses
8 Lockwood Dr Hampton, VA 23661-1400
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3080110
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Total area
17,247 SF
Lot
1.54 ac (66,865 SF)
Zoning code
16 M-1 LIMITED MANUFACTUR
APN
01K023 00 00003
UPID
US87-3080110
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
-
Stanley Steemer Carpet Cleaning Service Air Duct Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.04M
Owner & transaction history
Phillips Brown LLC · 11 yrs held
Phillips Brown LLC
since 2014
1 recorded transaction
Zoning & alternative use
16 M-1 LIMITED MANUFACTUR · Hampton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+56.3%
Industrial (general)
$1.3M
+16.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,075,000
Current use
RETAIL STORES
$1,680,000
Change: +56% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,250,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±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
$60 / 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
Assessed value
$1,009,200
Assessed 2024
Previous assessed
$919,600
+9.7% YoY
Assessed land
$183,900
Assessed improvement
$825,300
Land market value
$183,900
Improvement market value
$825,300
Total market value
$1,009,200
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
1998
Heating
YES
Cooling
NONE
Stories
1
Rooms
1
Total area
17,247 SF
Lot
1.54 ac (66,865 SF)
Zoning code
16 M-1 LIMITED MANUFACTUR
APN
01K023 00 00003
UPID
US87-3080110
Jurisdiction
HAMPTON CITY
Zoning & alternative use
16 M-1 LIMITED MANUFACTUR · Hampton, VA
Zoning 16 M-1 LIMITED MANUFACTUR · permitted uses
16 M-1 LIMITED MANUFACTUR · 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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
RETAIL STORES
INDUSTRIAL (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
1998
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Phillips Brown LLC
Entity
Free & Clear · 11 yrs held
Mailing address
220 SALTERS CRK RD, HAMPTON, VA 23661-1909
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2014
—
Phillips Brown LLC
Phillips Brown Partnership
Special 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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