Three-Building Office Park For
11717 11719 & 11719-B Jefferson Ave, Newport News, VA 23606
For Sale
$3,500,000
Office park in Oyster Point business hub, prime purchase opportunity.
Property Size28,062 SF
Days on Market229
Property Features for 11717 11719 & 11719-B Jefferson Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Listing Agency:
Divaris Real Estate - Hampton Roads
Listed By:
Jason Oliver, CCIM
(757) 333-4383
Source:
Divaris
Added: Mar 27
Changed: Nov 9
Last Checked: Nov 10 at 6:30AM
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 Divaris Real Estate - Hampton Roads
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This prominent three-building office park, comprising one two-story building and two single-story buildings, is situated in Oyster Point, the business hub of the Virginia Peninsula. The property benefits from frontage on Jefferson Avenue and represents a purchase opportunity for an owner/user.
Key Highlights
- Prime purchase opportunity for an owner/user.
- Located in Oyster Point, the business hub of the Virginia Peninsula.
- Prime frontage on Jefferson Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$311,278
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,225,560
$6.2M
Cap Rate 7%
$4,446,829
$4.4M
Cap Rate 9%
$3,458,644
$3.5M
Market Conditions
NOI Build-Up for 28,062 SF
Gross rent
$488.3K $17.40/SF
− Vacancy
−$73.2K −$2.61/SF
EGI
$415.0K $14.79/SF
− OpEx
−$103.8K −$3.70/SF
NOI
$311.3K $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%
$6,225,560
Cap Rate 7%
$4,446,829
Cap Rate 9%
$3,458,644
Alternative Uses
Best Use
Office B
$4.45M
$3.89M – $5.19M
NOI $311,278 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.96M
$5.21M – $6.95M
NOI $417,185 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Location Intelligence
Trade Area within ½ mile
2,156
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
Properties on Market for Office buildings in Newport News
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office park in Oyster Point business hub, prime purchase opportunity.
Where is this office building located?
The property is located at 11717 11719 & 11719-B Jefferson Ave Newport News, VA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime purchase opportunity for an owner/user.; Located in Oyster Point, the business hub of the Virginia Peninsula.; Prime frontage on Jefferson Avenue.
