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1909 Commerce Dr - Redevelopment Opportunity 4.88 Acres of Commercial Land Offered at $9,359,000 in Hampton, VA 23666
Investment Highlights
- Well located site in Hampton Roads, offering proximity to major employment centers and daily.
- Strong workforce and renter base driven by nearby military, aerospace, healthcare, and port-related employers.
- Close proximity to the Hampton Coliseum, Hampton Roads Convention Center, Peninsula Town Center, Coliseum Marketplace and more.
- Situated in an Opportunity Zone within the Coliseum Central District.
Executive Summary
Located along Commerce Drive with excellent access to I-64 and Mercury Boulevard, this 4.88 AC redevelopment site offers a compelling multifamily development opportunity in the heart of Hampton Roads. Zoned MD-4, the site allows multifamily by-right and is entitled for up to 382 units, positioning it as an ideal play for developers seeking scale in a high-demand submarket.
Property Facts
| Price | $9,359,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 4.88 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | MD-4 | ||
| Price | $9,359,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 4.88 AC |
| Opportunity Zone |
Yes |
| Zoning | MD-4 |
1 Lot Available
Lot
| Price | $9,359,000 | Lot Size | 4.88 AC |
| Price Per AC | $1,917,827.87 |
| Price | $9,359,000 |
| Price Per AC | $1,917,827.87 |
| Lot Size | 4.88 AC |
Description
The property is a 4.88-acre parcel located at 1909 Commerce Drive in Hampton, Virginia, positioned within the Coliseum Central District. It is directly adjacent to Interstate 64 and accessible from Pine Chapel Road. The site is zoned MD-4, supporting multifamily development by-right and carrying entitlements for up to 382 units. Surrounding land uses include retail centers, restaurants, and regional attractions such as Hampton Coliseum and Hampton Roads Convention Center. The location provides connectivity to Mercury Boulevard and Interstate 64, a major regional transportation corridor.
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 7001267 | Improvements Assessment | $70,000 |
| Land Assessment | $2,550,900 | Total Assessment | $2,620,900 |
Property Taxes
Parcel Number
7001267
Land Assessment
$2,550,900
Improvements Assessment
$70,000
Total Assessment
$2,620,900
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