Functional Office/Warehouse Flex
11838 Canon Boulevard Newport News, VA 23606
11838 Canon Boulevard, Newport News, VA, 23606
Contact for pricing
For Sale
Contact for pricing
Multi-tenant building in Oyster Point Business Area, Newport News.
Property Size16,200 SF
Price / SF$98.77
Days on Market57
Property Features for 11838 Canon Boulevard
General Information
- Standard status
- Active
- Size
- 16,200 SF
- Property subtype
- Office, Industrial
Listing Agency
Drucker + Falk
(757) 873-1401
Listed by
Michael Shapiro · License #VA 0225028178
Source
Crexi
Added: May 21 Checked: Jul 15 at 10:59 am
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 Drucker + Falk
Investment Insights
Based on property information with market context.
This 16,200 square foot multi-tenant building is located on the corner of Blue Crab Road and Canon Boulevard. Currently 81% occupied, the property offers a functional layout suitable for office and warehouse users. The office-warehouse spaces feature 16-foot clear warehouse ceilings and 12-foot grade-level loading doors, providing versatile locations for a wide range of businesses. Tractor-trailer access is available. Situated within a block of City Center Boulevard, the newest main access to the Oyster Point business park, the property is centrally located between two exits from Interstate I-64. It is also in close proximity to SR-143 (Jefferson Ave.) and US Hwy 17 (J. Clyde Morris Blvd.), providing excellent access to all of Hampton Roads and the Port of Virginia. The building is located in the Oyster Point Business Area adjacent to City Center in Newport News, Virginia. This block and metal building is zoned for office, warehouse, and flex uses. The property has an attractive street presence. Ample parking and loading areas are located in the rear of the building, allowing for tractor-trailer access. Large (12') overhead grade-level doors and personnel doors are located in the rear of each suite, making loading and storage convenient.
Key Highlights
- Prime location in Oyster Point Business Area, adjacent to City Center in Newport News, VA.
- Excellent access to Hampton Roads and the Port of Virginia via I‑64, SR‑143, and US Hwy 17.
- Functional office/warehouse layout suitable for various businesses.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.2k | $10.20 |
| − Vacancy | −$12.6k | −$0.78 |
| EGI | $152.7k | $9.42 |
| − OpEx | −$22.9k | −$1.41 |
| NOI | $129.8k | $8.01 |
16,200 SF · lease $10.20/SF/yr · vacancy 7.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,779 @ 7.0% cap · market cap 8.11%
Second Best
Industrial
$1.53M
$1.34M – $1.78M
NOI $106,877 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,838 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Brew & Bottle - Home ...
Production Facility
CertaPro Painters of Virginia ...
Painting Service
757 ROC Athletic ...
Gym & Fitness Center
1700 Brewing
Production Facility
Legends Team Sports
Corporate Office
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FAQs
What type of property is this?
Flex space - Multi-tenant building in Oyster Point Business Area, Newport News.
Where is this flex space located?
The property is located at 11838 Canon Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location in Oyster Point Business Area, adjacent to City Center in Newport News, VA.; Excellent access to Hampton Roads and the Port of Virginia via I‑64, SR‑143, and US Hwy 17.; Functional office/warehouse layout suitable for various businesses.
