Newport News Office Building For
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729 Thimble Shoals Blvd, Newport News, VA
1,496 SF office building in Newport News, Virginia.
Property Size1,496 SF
Lot Size0.17 Acres
Price / SF$154.19
Days on Market810
Property Features for 729 Thimble Shoals Blvd
General Information
Standard status
Active
Size
1,496 SF
Lot size
0.17 Acres
Property subtype
OFFICE
Site & Location
Neighborhood
Morrison
Listing Agency:
Cushman & Wakefield | Thalhimer - Virginia Beach
(757) 499-2900
Listed By:
Teresa Nettles
(757) 873-0323
Source:
Moodyscre
Added: Aug 16, 2024
Changed: Oct 25
Last Checked: Nov 3 at 7:38AM
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 Cushman & Wakefield | Thalhimer - Virginia Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,496 square foot office building, constructed in 1988, is situated on a 0.16-acre site. The property features a 5-ton oversized HVAC unit with a new compressor installed in 2015. It is located in an opportunity zone and identified by parcel ID number 196000510. Zoned C4, the property is currently occupied and leased to a financial firm through March 31, 2030.
Key Highlights
- Leased through 3/31/2030 by a financial firm, providing immediate and consistent income.
- Located in an Opportunity Zone, offering potential tax benefits.
- Building size of 1,496 sf, suitable for various business operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,594
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,880
$331.9K
Cap Rate 7%
$237,057
$237.1K
Cap Rate 9%
$184,378
$184.4K
Market Conditions
NOI Build-Up for 1,496 SF
Gross rent
$26.0K $17.40/SF
− Vacancy
−$3.9K −$2.61/SF
EGI
$22.1K $14.79/SF
− OpEx
−$5.5K −$3.70/SF
NOI
$16.6K $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%
$331,880
Cap Rate 7%
$237,057
Cap Rate 9%
$184,378
Alternative Uses
Best Use
Office B
$237.1K
$207.4K – $276.6K
NOI $16,594 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$317.7K
$278.0K – $370.7K
NOI $22,240 @ 7.0% cap · market cap 9.64%
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
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,960
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - 1,496 SF office building in Newport News, Virginia.
Where is this office building located?
The property is located at 729 Thimble Shoals Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $230,671.
What are key features of this property?
This property features: Leased through 3/31/2030 by a financial firm, providing immediate and consistent income.; Located in an Opportunity Zone, offering potential tax benefits.; Building size of 1,496 sf, suitable for various business operations.
