Automotive Shop With 3 Service
New
For Sale
$790,000
11021 Jefferson Ave, Newport News, VA 23601
Established automotive service facility with vehicle lifts, offices, restrooms, parking, and adaptable attic space.
Property Size4,200 SF
Price / SF$188.10
Days on Market2
Property Features for 11021 Jefferson Ave
General Information
Standard status
Active
Size
4,200 SF
Additional Details
Asking Price
$790,000
Service Bays
3
Amenities
large office space
2 bathrooms
large open attic space
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Sunrise Real Estate Group
Listed By:
Mustafa Cuce, Senel Cuce
(757) 805-2286
Source:
Distinctlyrealestate
Added: Sep 8
Last Checked: Sep 8 at 2:45PM
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 Sunrise Real Estate Group
Investment Insights
Based on property information with market context.
The 4,200-square-foot automotive service facility was built in 1990 and is arranged for repair and maintenance operations. The building includes three service bays with three vehicle lifts, a substantial office area, two bathrooms, and on-site parking. A large open attic adds flexible interior space for storage, training, meetings, office functions, or other approved uses.
The property fronts Jefferson Avenue in Newport News, providing direct corridor access and exposure along a heavily traveled roadway. Its existing automotive infrastructure and functional layout support continued service operations, subject to applicable zoning, permitting, building-code requirements, and approvals.
The property fronts Jefferson Avenue in Newport News, providing direct corridor access and exposure along a heavily traveled roadway. Its existing automotive infrastructure and functional layout support continued service operations, subject to applicable zoning, permitting, building-code requirements, and approvals.
Key Highlights
- 4,200 SF automotive service facility built in 1990
- 3 service bays equipped with 3 vehicle lifts
- Large office area and 2 bathrooms
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
$35,357
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
4.48%
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%
$707,140
$707.1K
Cap Rate 7%
$505,100
$505.1K
Cap Rate 9%
$392,856
$392.9K
Market Conditions
NOI Build-Up for 4,200 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
$51.9K $12.36/SF
− Vacancy
−$1.4K −$0.33/SF
EGI
$50.5K $12.03/SF
− OpEx
−$15.2K −$3.61/SF
NOI
$35.4K $8.42/SF
Area
Newport News, VA
Vacancy
2.70%
Lease Rate
$12.36 /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%
$707,140
Cap Rate 7%
$505,100
Cap Rate 9%
$392,856
Alternative Uses
Best Use
Retail
$505.1K
$442.0K – $589.3K
NOI $35,357 @ 7.0% cap · market cap 4.48%
Second Best
Industrial
$395.8K
$346.4K – $461.8K
NOI $27,709 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$892.0K
$780.5K – $1.04M
NOI $62,440 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
126k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Groceries 31%
Dining 11%
Walmart Neighborhood Market
Groceries
39,134 visits/mo
0.4 miles
Wawa
Shops & Services
37,031 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,288 visits/mo
0.4 miles
Taco Bell
Dining
7,944 visits/mo
0.4 miles
Exxon
Shops & Services
6,687 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- E & E DISCOUNT TIRES — 10739 Jefferson Ave, Newport News, VA 23601
- A & F DISCOUNT TIRE — 10739 Jefferson Ave, Newport News, VA 23601
- jet's auto & Transmission — 10741 jefferson ave, newport news, va 23601
- A & W Automotive — 11025-b, 2716, Jefferson Ave, Newport News, VA 23601
- AAndW Automotive Inc. — 11025b Jefferson Ave, Newport News, VA 23601
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive service facility with vehicle lifts, offices, restrooms, parking, and adaptable attic space.
Where is this auto shop located?
The property is located at 11021 Jefferson Ave Newport News, VA.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 4,200 SF automotive service facility built in 1990; 3 service bays equipped with 3 vehicle lifts; Large office area and 2 bathrooms
