Updated Flex
For Sale
$299,900
10410 Warwick Boulevard, Newport News, VA 23601
Commercial/Industrial, Newport News, VA
Property Size3,000 SF
Lot Size0.19 Acres
Price / SF$99.97
Days on Market34
Property Features for 10410 Warwick Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Subdivision
ALL OTHERS AREA 107
Standard status
Active
Size
3,000 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
3129
Utilities
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s)
Building Details
Year built
1940
Listing Agency:
EXP Realty LLC
(866) 825-7169
Listed By:
Craig Mclellon · License #0225-208129
(866) 825-7169
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 24 at 6:06PM
MLS# 10645445
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,000-square-foot flex property sits on 0.19 acres and carries C1 zoning. Recent improvements include a new roof, HVAC system, windows, garage doors, and exterior paint, creating a refreshed building envelope and updated operating components. Electric heat and wall/window unit cooling are in place, and the property was built in 1940.
Located at 10410 Warwick Boulevard in Newport News, the building is positioned near Hilton Village. Its configuration supports consideration for storage, retail, office, showroom, or service-oriented occupancy, subject to applicable requirements. The combination of commercial zoning, flexible use potential, and recent improvements provides a practical base for a range of business operations.
Located at 10410 Warwick Boulevard in Newport News, the building is positioned near Hilton Village. Its configuration supports consideration for storage, retail, office, showroom, or service-oriented occupancy, subject to applicable requirements. The combination of commercial zoning, flexible use potential, and recent improvements provides a practical base for a range of business operations.
Key Highlights
- 3,000 square feet on 0.19 acres
- C1 zoning
- New roof, HVAC, windows, and garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,792
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$395,840
$395.8K
Cap Rate 7%
$282,743
$282.7K
Cap Rate 9%
$219,911
$219.9K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.6K $10.20/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$28.3K $9.42/SF
− OpEx
−$8.5K −$2.83/SF
NOI
$19.8K $6.60/SF
Area
Newport News, VA
Vacancy
7.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$395,840
Cap Rate 7%
$282,743
Cap Rate 9%
$219,911
Alternative Uses
Best Use
Industrial
$282.7K
$247.4K – $329.9K
NOI $19,792 @ 7.0% cap · market cap 6.60%
Second Best
Flex RnD
$262.5K
$229.7K – $306.3K
NOI $18,378 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$637.1K
$557.5K – $743.3K
NOI $44,600 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23601, VA
25,729
Population
12,593
Households
2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,477
Density / Sq Mi
$71,345
Median Household Income
$48,310
Median Earnings
$1,231
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C1-zoned commercial space with updated building systems and exterior improvements.
Where is this flex space located?
The property is located at 10410 Warwick Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 3,000 square feet on 0.19 acres; C1 zoning; New roof, HVAC, windows, and garage doors
