Ground-Floor Office
For Sale
$148,000
1075 Loftis Boulevard, Newport News, VA 23606
Commercial/Industrial, Newport News, VA
Property Size1,188 SF
Lot Size0.03 Acres
Price / SF$124.58
Days on Market99
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
Building Details
Year built
2007
Listing Agency:
EXP Realty LLC
(866) 825-7169
Listed By:
Shoshana Marziano
(757) 593-8609
Added: Jun 29
Changed: Oct 1
Last Checked: Oct 5 at 6:06PM
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 1,188-square-foot ground-floor business condominium provides a flexible office configuration within the Nat Turner Building. The interior includes an open front reception and work area, a larger rear workspace, private bathroom, shower, and a mini kitchen equipped with a sink and dishwasher. The layout can accommodate additional private offices, while assigned parking is located near the entrance.
The property offers signage positions above the entrance and at the rear, with exposure toward Loftis Boulevard. Access is available from Jefferson Ave via Loftis Blvd or from City Center Blvd via Nat Turner Blvd. Built in 2007, the unit is served by central air and heat pump heating and carries R9 zoning.
The property offers signage positions above the entrance and at the rear, with exposure toward Loftis Boulevard. Access is available from Jefferson Ave via Loftis Blvd or from City Center Blvd via Nat Turner Blvd. Built in 2007, the unit is served by central air and heat pump heating and carries R9 zoning.
Key Highlights
- 1,188‑square‑foot ground‑floor office unit in the Nat Turner Building
- Open front reception/work area plus a large rear workspace
- Private bathroom, shower, sink, and dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,178
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
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
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 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 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.3K
$220.8K – $294.4K
NOI $17,661 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Flexible professional space with an open layout, private bathroom, shower, and compact kitchenette.
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 $148,000.
What are key features of this property?
This property features: 1,188‑square‑foot ground‑floor office unit in the Nat Turner Building; Open front reception/work area plus a large rear workspace; Private bathroom, shower, sink, and dishwasher
