Automotive Service Shop with
New
For Sale
$790,000
11021 Jefferson Avenue, Newport News, VA 23601
Commercial/Industrial, Newport News, VA
Property Size4,200 SF
Lot Size0.35 Acres
Price / SF$188.10
Days on Market4
Property Features for 11021 Jefferson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
ALL OTHERS AREA 108
Standard status
Active
Size
4,200 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Annual Amount
4591
Utilities
Cooling system
Central Air
Amenities
large office space
2 bathrooms
large open attic space
Building Details
Year built
1990
Roof type
Shingle
Listing Agency:
Sunrise Real Estate Group
Listed By:
Mustafa Cuce
(757) 805-2286
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 8 at 12:06PM
MLS# 10652513
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 automotive service property includes a 4,200-square-foot facility with 3 service bays, 3 vehicle lifts, a large office area, 2 bathrooms, and parking. The building also provides open attic space that may support office, storage, training, meeting, or other permitted uses, subject to zoning, permitting, building code, and approval requirements. Central air and a shingle roof are in place, and the building was constructed in 1990.
The property occupies 0.35 acres at 11021 Jefferson Avenue in Newport News, Virginia. Its C2 zoning and existing automotive layout support consideration for repair and service operations, subject to verification of permitted uses and applicable approvals.
The property occupies 0.35 acres at 11021 Jefferson Avenue in Newport News, Virginia. Its C2 zoning and existing automotive layout support consideration for repair and service operations, subject to verification of permitted uses and applicable approvals.
Key Highlights
- 4,200‑square‑foot automotive service facility
- 3 service bays with 3 vehicle lifts
- Large office area, 2 bathrooms, and parking
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
Yes
Paved road access
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 - C2-zoned facility with service bays, office space, parking, and an open attic area for approved additional uses.
Where is this auto shop located?
The property is located at 11021 Jefferson Avenue 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‑square‑foot automotive service facility; 3 service bays with 3 vehicle lifts; Large office area, 2 bathrooms, and parking
