17 Mellen StHampton, VA 23663

Property Details for 17 Mellen St

Year built

1892

Construction

WOOD

Property size (Sq ft)

4,638 SF

Zone code

46 PH-1 PHOEBUS URBAN COR

Property type

Retail properties

Property subtype

Retail space

APN

12F244 00 00000

APU

12F2440000000

Description

This exceptional 4,638 square foot storefront property, located at 17 East Mellen Street in Hampton, Virginia, presents a unique investment opportunity. Priced at $450,000 ($97.02 per square foot), this charming multi-purpose building boasts a prime location in the heart of Historic Phoebus. Its versatile design accommodates retail, office, or apartment uses, making it ideal for a variety of businesses. The building features a large second-floor patio area offering stunning views of Historic Phoebus. Its convenient location provides excellent access to Interstate 64 (Mallory Street exit), placing it within easy reach of major transportation routes. The surrounding area boasts a vibrant mix of established businesses, including McDonald's, Hardee's, Mango Mango, Panache Bistro, and the Old Point National Bank Corp. Headquarters. Nearby recreational amenities include Phoebus Waterfront Park and Mill Point Park, while the Crowne Plaza, Virginia Air & Space Museum, and numerous restaurants are just minutes away. This property offers a compelling blend of historical charm, modern convenience, and strong surrounding commercial activity, making it an attractive investment in a thriving Hampton community. The property is situated in zip code 23663, close to Fort Monroe and Buckroe Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $1,439,708

  6.5%

  $1,328,961

  7%

  $1,234,035

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,497,591

  Geo Method

  $1,951,973

• Alternative Use

  Use

  Valuation

  Residential

  $1,121,028

  Hospitality

  $1,026,856

  Educational

  $854,332

  Medical

  $883,714

  Retail

  $1,328,961

Location Insight

City

Hampton

County

Hampton City

State

Virginia

Latitude

37.0183

Longitude

-76.3216

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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