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227 E Mercury Blvd 21,631 SF Retail Building Hampton, VA 23669 $2,400,000 ($110.95/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Investors seeking strong returns and stable cash flow, owner-operators looking for a move-in-ready facility in a high-visibility location
- The seller offers a lease buyout at closing, allowing immediate occupancy or continued rental income.
- It is leased as a newly renovated event space with a two-year NNN lease starting April 2025.
- Located on high-traffic Mercury Boulevard, the site features two new AC units and ample parking.
- The lease generates $216,000 annually, with $180,000 actual net income after discount.
- The property spans 21,631 square feet on 1.93 acres, including an adjoining parking parcel.
EXECUTIVE SUMMARY
This 21,631 SF turnkey facility sits on 1.93 acres, including an adjoining parcel used for parking. Located on one of Hampton’s busiest commercial corridors, the property offers excellent visibility, high traffic counts, and easy access—making it ideal for both investors and owner-operators. Currently leased as a newly renovated event space under a 2-year NNN lease starting April 2025, the property generates $216,000 in gross annual income ($180,000 actual after discount). The lease includes a seller buyout option at closing, giving buyers immediate flexibility to occupy or continue leasing for passive income.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Building Size
21,631 SF
Building Class
C
Year Built
1973
Price
$2,400,000
Price Per SF
$110.95
Cap Rate
7.25%
NOI
$174,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.93 AC
Zoning
15 C-3 GEN - Commercial
Parking
110 Spaces (5.08 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $474,800 | |
| Land Assessment | $502,000 | Total Assessment | $976,800 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$502,000
Improvements Assessment
$474,800
Total Assessment
$976,800
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227 E Mercury Blvd
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