Office Building with Rental
For Sale
$785,000
760 Mcguire Place, Newport News, VA 23601
Commercial/Industrial, Newport News, VA
Property Size5,230 SF
Lot Size0.40 Acres
Price / SF$150.10
Days on Market365
Property Features for 760 Mcguire Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
O1
Subdivision
ALL OTHERS AREA 107
Standard status
Active
Size
5,230 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
5575
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1985
Roof type
Shingle
Listing Agency:
RE/MAX Connect · RE/MAX International
(757) 525-3639
Listed By:
Carlyn Menser · License #0225104023
(757) 879-9759
Added: Sep 5, 2025
Changed: Aug 26
Last Checked: Sep 4 at 2:06AM
MLS# 10600649
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.
Built in 1985, this 5,230-square-foot office building includes multiple professional office units, with one space occupied by the owner and leased space producing rental income. The property is suited to office use and is designated O1 zoning.
The 0.4-acre site is located in Newport News, Virginia. Building systems include central air conditioning and heat-pump heating, while the roof is finished with shingles. The configuration supports an owner-user seeking office space alongside leased occupancy, as well as an investor evaluating a multi-unit office asset.
The 0.4-acre site is located in Newport News, Virginia. Building systems include central air conditioning and heat-pump heating, while the roof is finished with shingles. The configuration supports an owner-user seeking office space alongside leased occupancy, as well as an investor evaluating a multi-unit office asset.
Key Highlights
- 5,230 square feet of office space on a 0.4‑acre site
- O1 zoning designation
- Owner‑occupied space plus leased office units
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
$58,014
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
7.39%
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%
$1,160,280
$1.2M
Cap Rate 7%
$828,771
$828.8K
Cap Rate 9%
$644,600
$644.6K
Market Conditions
NOI Build-Up for 5,230 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
$91.0K $17.40/SF
− Vacancy
−$13.7K −$2.61/SF
EGI
$77.4K $14.79/SF
− OpEx
−$19.3K −$3.70/SF
NOI
$58.0K $11.09/SF
Area
Newport News, VA
Vacancy
15.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,160,280
Cap Rate 7%
$828,771
Cap Rate 9%
$644,600
Alternative Uses
Best Use
Office B
$828.8K
$725.2K – $966.9K
NOI $58,014 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$971.9K – $1.30M
NOI $77,752 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 5,230-square-foot office property with O1 zoning, central air, and a mix of owner-occupied and leased space.
Where is this office building located?
The property is located at 760 Mcguire Place Newport News, VA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 5,230 square feet of office space on a 0.4‑acre site; O1 zoning designation; Owner‑occupied space plus leased office units
