This exceptional investment opportunity presents two office buildings totaling 10,560 square feet on a 0.45-acre lot in Newport News, Virginia. The main building, a two-story, 6,189 square foot structure, features adaptable office suites, conference rooms, and multiple restrooms, allowing for easy subdivision to meet diverse tenant needs. A separate single-story, 1,490 square foot building offers a large, open space ideal for meetings or conferences, previously used as a church and including two handicap-accessible restrooms. The property boasts ample parking and enjoys excellent visibility and accessibility, with direct access to Jefferson Avenue and Mercury Boulevard. This Class C office space is offered at $675,000, with a lease type of NNN and single tenancy. The location benefits from high traffic counts (Jefferson Avenue: 43,000 VPD in 2011) and enjoys the adjacency to a proposed Walmart Supercenter, promising strong co-tenancy benefits. The asking price is $8 per square foot for the two-story building, and $1,975 per month NNN for the single-story building. This property presents a unique opportunity for investors seeking a versatile and well-located office complex in a thriving area. The property is zoned for office use and is located at 6147 Jefferson Avenue, Newport News, VA 23605.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$1,681,416
Hospitality
$1,540,168
Educational
$1,281,402
Medical
$1,325,471
Retail
$1,993,292
Location Insight
City
Newport News
County
Newport News City
State
Virginia
Latitude
37.024
Longitude
-76.448
CBSA code
47260
CBSA name
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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