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422 Oriana Rd Newport News, VA 23608

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For Sale
$637,935

Retail property with a national tenant in Newport News, VA.

Property size:
4,200 SF
Lot size:
0.36 Acres

Property Features for 422 Oriana Rd

General Information

Size
4,200 SF
Lot size
0.36 Acres

Source: Matthews Real Estate Investment Services | Atlanta Agent Ryan Burke

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Newport News Retail Investment

The property is suitable for retail or medical tenants. MyEyeDr recently signed a new 5-year lease, demonstrating their commitment to the location. MyEyeDr, a national operator with over 900 locations nationwide and an estimated annual revenue of $1 billion, occupies the space. The rental rate is below market value at less than $12 per square foot. The property is highly visible and easily accessible from the road. It is surrounded by national tenants such as Wendy’s, Bank of America, Autozone, and McDonald’s, as well as various strip centers, contributing to high traffic and familiarity in the area. The property is located in Newport News, a top city in Virginia with a coastal location that benefits from the Marine Terminal. The surrounding area within a 5-mile radius has an average household income of over $86,121. MyEyeDr is owned by Capital Vision Services and was acquired in 2019 by Goldman Sachs. The optometry market is experiencing growth due to technological advancements and an aging population, with a projected CAGR of 11.3% through 2033 and a current estimated market size of $5.84 billion. The property size is 4,200 square feet.
Insight Report Location Intelligence

Current Use by Public Records

MyEyeDr. Contact Lenses Supplier MyEyeDr - Arndt Kenneth ... Optometrist ClearVision Optometry, now ... Contact Lenses Supplier Heather Bae, OD Optometrist ClearVision Optometry - Seago ... Optometrist

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

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Location Insight

  • Map
  • Local Demand
City
Newport News
County
Newport News
State
Virginia
Longitude
-76.5353111
Latitude
37.1310395

FAQs

What type of property is this?
Medical office - Retail property with a national tenant in Newport News, VA.
Where is this medical office located?
The property is located at 422 Oriana Rd Newport News, VA.
What is the asking price?
The asking price for this property is $637,935.
What are key features of this property?
This property features: - Strong Tenant: MyEyeDr, a national operator with over 900 locations and $1 Billion in annual revenue, backed by Goldman Sachs.; - Fresh Lease Renewal: MyEyeDr recently signed a new 5-year lease, demonstrating commitment to the location.; - Below Market Rent: Current rent is less than $12/SF, offering potential for future rental increases.
More about this property
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