Two-Story Flex Space
For Sale
$449,900
10413 Warwick Blvd, Newport News, VA 23601
Two-level commercial building with existing office configuration and adaptable first-floor space for varied business uses.
Property Size4,350 SF
Price / SF$103.43
Days on Market79
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Property Features for 10413 Warwick Blvd
General Information
Standard status
Active
Size
4,350 SF
Property subtype
Commercial
Building Details
Year Built
1959
Listing Agency:
Better Homes & Gdns Ntv Am Grp
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Jul 29
Changed: Oct 15
Last Checked: Oct 14 at 11:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Homes & Gdns Ntv Am Grp
Investment Insights
Based on property information with market context.
This 4,350-square-foot flex space building was constructed in 1959 and includes two levels with distinct configurations. The second floor is arranged for office occupancy, while the larger first floor can be reworked for additional offices or a combination of flex, café, restaurant, and retail functions with offices above.
The property fronts Warwick Boulevard in Newport News and is positioned at the gateway to Hilton Village. Its current use by Link of Hampton Roads provides an established commercial setting, while the two-floor layout accommodates a range of office and customer-facing configurations.
The property fronts Warwick Boulevard in Newport News and is positioned at the gateway to Hilton Village. Its current use by Link of Hampton Roads provides an established commercial setting, while the two-floor layout accommodates a range of office and customer-facing configurations.
Key Highlights
- 4,350‑square‑foot commercial building with two levels
- Second floor configured for office use
- First floor offers adaptable space for offices, flex, café, restaurant, or retail
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,699
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,980
$574.0K
Cap Rate 7%
$409,986
$410.0K
Cap Rate 9%
$318,878
$318.9K
Market Conditions
NOI Build-Up for 4,350 SF
Gross rent
$44.4K $10.20/SF
− Vacancy
−$3.4K −$0.78/SF
EGI
$41.0K $9.42/SF
− OpEx
−$12.3K −$2.83/SF
NOI
$28.7K $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 Rate 5%
$573,980
Cap Rate 7%
$409,986
Cap Rate 9%
$318,878
Alternative Uses
Best Use
Office B
$689.3K
$603.2K – $804.2K
NOI $48,252 @ 7.0% cap · market cap 10.73%
Second Best
Industrial
$410.0K
$358.7K – $478.3K
NOI $28,699 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$923.9K
$808.4K – $1.08M
NOI $64,670 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- David — 463 center ave, newport news, va 23607
Frequently Asked Questions
What type of property is this?
Flex space - Two-level commercial building with existing office configuration and adaptable first-floor space for varied business uses.
Where is this flex space located?
The property is located at 10413 Warwick Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 4,350‑square‑foot commercial building with two levels; Second floor configured for office use; First floor offers adaptable space for offices, flex, café, restaurant, or retail
