809 Diligence DrNewport News, VA 23606

Property Details for 809 Diligence Dr

Lot size

1.66 AC

Zone code

C4

Property type

Industrial land

APN

196000197

APU

196000197

Description

This exceptional flex/R&D space, located at 809 Diligence Drive in Newport News, Virginia, offers a unique opportunity for businesses seeking customizable space in a prime location. The property, zoned C4, boasts a total of 16,450 square feet, with a minimum divisible space of 8,225 square feet. This new construction building provides ample parking and is ideally situated within the vibrant Oyster Point Business Park. Its strategic location offers easy access to major transportation arteries, including Interstate 64 and J. Clyde Morris Boulevard (Route 17), ensuring seamless commutes and efficient logistics. The space is adaptable to various needs, accommodating build-outs ranging from 30% to 100% office space, making it perfect for businesses requiring a blend of office and warehouse/research and development areas. Lease rates are competitive, starting at a minimum blended rate of $13.25 per square foot, with warehouse space at $12 PSF and office space at $16 PSF. The property's flexible layout and prime location make it an ideal choice for companies seeking long-term growth and a strategic business address in the thriving Newport News market. The zip code is 23606. This is a multi-tenant building. Don't miss this chance to secure your ideal workspace in this dynamic business park.

• CAP approach

  CAP return

  Valuation

  6%

  $32,743,900

  6.5%

  $30,225,100

  7%

  $28,066,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,125,400

  Geo Method

  $19,322,400

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $15,455,600

  Mixed-Use / Specialty

  $15,366,000

  Hospitality / Lodging

  $11,228,700

  Office

  $15,238,800

  Institutional / Educational

  $15,962,100

  Residential Income

  $18,675,700

  Multifamily

  $22,589,600

  Automotive / Energy

  $13,681,800

  Parking / Income-Based Land

  $4,755,470

  Restaurant / Food Service

  $7,918,450

  Healthcare / Senior Housing

  $15,792,900

Location Insight

City

Newport News

County

Newport News City

State

Virginia

Latitude

37.0844

Longitude

-76.4653

CBSA code

47260

CBSA name

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

Property Tax & Assessments

FAQs

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