Medical Office Near
For Sale
Contact for pricing
716 Denbigh Blvd, Newport News, VA
Leased medical office building near hospital with strong demographics.
Property Size6,344 SF
Lot Size0.56 Acres
Price / SF$243.06
Days on Market525
Property Features for 716 Denbigh Blvd
General Information
Standard status
Active
Size
6,344 SF
Lot size
0.56 Acres
Property subtype
OFFICE
Listing Agency:
Marcus & Millichap | Phoenix
(630) 641-9220
Listed By:
Sean Lenchner · License #SA550593000
(630) 641-9220
Source:
Moodyscre
Added: Feb 26, 2025
Changed: Jul 10
Last Checked: Jul 21 at 7:01AM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This 6,344 square foot medical office is located within the Denbigh Medical Center Office Complex, adjacent to Bon Secours Mary Immaculate Hospital, which has over 120 beds. The property benefits from its proximity to Charter Senior Living of Newport News and Warwick Forest Retirement Community. It is easily accessible via Denbigh Boulevard, which sees 24,000 cars per day. The surrounding Newport News trade area has a growing population, with 147,121 residents within a 5-mile radius. The average household income in the surrounding area exceeds $87,000. The property has over 4 years remaining on the lease, with 3% annual rent increases and multiple renewal options.
Key Highlights
- Strong Lease Term: Benefit from over 4 years remaining on the lease, featuring 3% annual rent increases and multiple renewal options.
- High Traffic Location: Easily accessible via Denbigh Boulevard, with 24,000 cars per day.
- Dense Residential Population: Located within a growing trade area with 147,121 residents within a 5‑mile radius.
Financial Insights For Office B
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 | $110.4k | $17.40 |
| − Vacancy | −$16.6k | −$2.61 |
| EGI | $93.8k | $14.79 |
| − OpEx | −$23.5k | −$3.70 |
| NOI | $70.4k | $11.09 |
6,344 SF · lease $17.40/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.01M
$879.6K – $1.17M
NOI $70,371 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$955.3K
$835.9K – $1.11M
NOI $66,871 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,313 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Leased medical office building near hospital with strong demographics.
Where is this medical office space located?
The property is located at 716 Denbigh Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $1,542,000.
What are key features of this property?
This property features: Strong Lease Term: Benefit from over 4 years remaining on the lease, featuring 3% annual rent increases and multiple renewal options.; High Traffic Location: Easily accessible via Denbigh Boulevard, with 24,000 cars per day.; Dense Residential Population: Located within a growing trade area with 147,121 residents within a 5‑mile radius.
