10749 Jefferson AveNewport News, VA 23601

Property Details for 10749 Jefferson Ave

Year built

1960

Lot size

0.89 AC

Property size (Sq ft)

14,988 SF

Zone code

C1

Property type

Other commercial real estate

APN

247000619

APU

247000619

Description

This exceptional commercial property, located at 10749 Jefferson Avenue in Newport News, Virginia, presents a unique investment opportunity. The 14,000 square foot building sits on a sizable 0.89-acre lot, offering significant potential for a variety of uses. Currently zoned C1 Retail Commercial, the property's versatility is further enhanced by its strategic location on busy Jefferson Avenue, ensuring high visibility and accessibility. The property's history includes uses as a bank, bar, and restaurant, demonstrating its adaptability to diverse business models. A key advantage is its location within Virginia Enterprise Zone (VEZ) #3. New ownership may qualify for attractive state and local incentives, potentially reducing initial investment costs and boosting long-term profitability. The asking price for this substantial commercial property is $500,000. This represents a compelling opportunity to acquire a well-situated, versatile property in a thriving area of Newport News, with the potential for significant returns on investment. The property's size and zoning provide ample space for expansion or redevelopment, catering to a wide range of commercial ventures. The zip code is 23601. The property's geographic coordinates are latitude 37.0534011 and longitude -76.462836.

• Alternative Use

  Use

  Valuation

  Residential

  $3,450,230

  Hospitality

  $3,160,392

  Educational

  $2,629,409

  Medical

  $2,719,839

  Retail

  $4,090,192

Location Insight

City

Newport News

County

Newport News City

State

Virginia

Latitude

37.0533

Longitude

-76.4629

CBSA code

47260

CBSA name

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

Property Tax & Assessments

FAQs

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