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 Market720
Property Features for 729 Thimble Shoals Blvd
General Information
Standard status
Active
Size
1,496 SF
Lot size
0.17 Acres
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield | Thalhimer - Virginia Beach
(757) 873-0323
Listed By:
Teresa Nettles
(757) 873-0323
Source:
Moodyscre
Added: Aug 16, 2024
Changed: Jul 10
Last Checked: Jul 21 at 6:00AM
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
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 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 | $26.0k | $17.40 |
| − Vacancy | −$3.9k | −$2.61 |
| EGI | $22.1k | $14.79 |
| − OpEx | −$5.5k | −$3.70 |
| NOI | $16.6k | $11.09 |
1,496 SF · lease $17.40/SF/yr · vacancy 15.00% · expense 25.00%
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,951
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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.
