Ground-Floor Office
For Sale
$159,900
1075 Loftis Boulevard, Newport News, VA 23606
COMMERCIAL - Newport News, VA
Property Size1,188 SF
Lot Size0.03 Acres
Price / SF$134.60
Days on Market51
Property Features for 1075 Loftis Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R9
Parking features
Assigned
Subdivision
PORT WARWICK
Standard status
Active
Size
1,188 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2290
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
private bathroom
shower
mini kitchen area
signage opportunities
Building Details
Year built
2007
Listing Agency:
EXP Realty LLC
(866) 825-7169
Listed By:
Shoshana Marziano
(866) 825-7169
Added: Jun 29
Changed: Aug 4
Last Checked: Aug 18 at 4:06PM
MLS# 10641979
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 ground-floor office unit provides 1,188 square feet of adaptable commercial space. The interior includes a front reception and work area, a larger rear workspace, and room for additional private offices. A private bathroom, shower, and compact kitchen area with sink and dishwasher support day-to-day operations. Central air and heat pump heating are installed, and the building was constructed in 2007.
The property offers signage locations above the entrance and at the rear, with visibility toward Loftis Boulevard. Access is available from Jefferson Avenue via Loftis Boulevard or from City Center Boulevard via Nat Turner Boulevard. Assigned parking is positioned near the entrance. The property is zoned R9 and located within the Port Warwick mixed-use community in Newport News.
The property offers signage locations above the entrance and at the rear, with visibility toward Loftis Boulevard. Access is available from Jefferson Avenue via Loftis Boulevard or from City Center Boulevard via Nat Turner Boulevard. Assigned parking is positioned near the entrance. The property is zoned R9 and located within the Port Warwick mixed-use community in Newport News.
Key Highlights
- 1,188‑square‑foot ground‑floor office unit
- Open front reception and work area with rear workspace
- Private bathroom, shower, and kitchen area with sink and dishwasher
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
$13,178
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
8.24%
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%
$263,560
$263.6K
Cap Rate 7%
$188,257
$188.3K
Cap Rate 9%
$146,422
$146.4K
Market Conditions
NOI Build-Up for 1,188 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
$20.7K $17.40/SF
− Vacancy
−$3.1K −$2.61/SF
EGI
$17.6K $14.79/SF
− OpEx
−$4.4K −$3.70/SF
NOI
$13.2K $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%
$263,560
Cap Rate 7%
$188,257
Cap Rate 9%
$146,422
Alternative Uses
Best Use
Office B
$188.3K
$164.7K – $219.6K
NOI $13,178 @ 7.0% cap · market cap 8.24%
Second Best
Retail
$142.9K
$125.0K – $166.7K
NOI $10,001 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$252.3K
$220.8K – $294.4K
NOI $17,661 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 23606, VA
31,684
Population
13,186
Households
2.4
Avg Household Size
33
Median Age
38%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
3,266
Density / Sq Mi
$69,921
Median Household Income
$38,647
Median Earnings
$1,327
Median Rent
$296,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial unit with reception area, rear workspace, private bath, and dedicated assigned parking.
Where is this office units located?
The property is located at 1075 Loftis Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 1,188‑square‑foot ground‑floor office unit; Open front reception and work area with rear workspace; Private bathroom, shower, and kitchen area with sink and dishwasher
