Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12300 Jefferson Ave Newport News, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Second-generation restaurant space available in a super regional mall.

    Type:RETAIL
    Property size:
    21,017 SF
    Lot size:
    56.81 Acres
    Added:
    Dec 24, 2024
    Days on Market:
    487
    Last Refresh:
    Apr 5 at 10:01 pm

    Property Features for 12300 Jefferson Ave

    General Information

    Standard status
    Active
    Size
    21,017 SF
    Lot size
    56.81 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 12300 Jefferson Ave Contact us

    We can help!

    Listing Contact
    Clay Willis
    Clay Willis

    Listing agent Clay Willis

    Listing office Cushman & Wakefield | Thalhimer - Virginia Beach

    Listing date Dec 24, 2024

    Source Moodyscre

    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

    Overview

    Restaurant Space in Regional Mall

    Located in the Patrick Henry submarket, this property is situated in a super regional mall at a signalized intersection just off I-64 at Exit 255. The location benefits from high traffic volume, with 52,500 vehicles per day on Jefferson Avenue and 123,000 vehicles per day on I-64. An 8,200-square-foot second-generation restaurant space is available as a mall entrance endcap. The space features a fully equipped kitchen and offers a massive signage opportunity facing I-64, along with the ability to create a large outdoor patio. The property is suitable for restaurants and retail businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chipotle Mexican Grill Restaurant Red Robin Gourmet ... Restaurant Umi Sushi Restaurant Patrick Henry Mall Shopping Center & Mall Tropical Smoothie Cafe Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News
    State
    Virginia
    Longitude
    -76.4959
    Latitude
    37.1123

    Nearby Similar for Lease

    • $1,750/Mo

      Port Warwick Retail/Office Space

      Prime commercial space in vibrant Newport News mixed-use community.
      117 Herman Melville Avenue, Newport News, VA 23606
      View Details
    • $12 SF/Yr

      Harpersville Road Commercial Space Available

      Versatile 1,700 sqft commercial space in high-visibility location.
      133 Harpersville Road, Newport News, VA 23601
      View Details
    • $650/Mo

      Move-in Ready Office Space

      Furnished office space in Oyster Point with utilities included.
      732 Thimble Shoals Boulevard, Newport News, VA 23606
      View Details
    • $19 SF/Yr

      Newport News Office Space Available

      Well-appointed office space in a high-visibility location.
      11745 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $12 SF/Yr

      Newport News Flex Space Available

      6,000 SF flex space with warehouse and office.
      300 Ed Wright Lane, Newport News, VA 23606
      View Details
    • $11 SF/Yr

      Newport News Flex Space Available

      Flex space near Newport News Town Center with office and warehouse.
      311 Ed Wright Lane, Newport News, VA 23606
      View Details
    • $19 SF/Yr

      Office Space Near Town Center

      Office space for lease near Town Center in Newport News.
      11747 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $19 SF/Yr

      Restaurant Space Near Newport News Shipyard

      Restaurant property near Newport News Shipyard, high-traffic, high-visibility area.
      3506 Washington Avenue, Newport News, VA 23607
      View Details
    • $19 SF/Yr

      Office Space Near Town Center

      Office space for lease near Town Center in Newport News.
      11747 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $5 SF/Yr

      Versatile Warehouse Space For Lease

      Warehouse space with office, convenient location, and easy access.
      9616 Hosier Street, Newport News, VA 23601
      View Details
    • $10 SF/Yr

      Newport News Multipurpose Facility For Lease

      Multipurpose facility suitable for various community-based and residential-support uses.
      3310 Roanoke (3314) Avenue, Newport News, VA 23607
      View Details
    • Sponsored
      Contact for pricing

      Oyster Point

      11815 Fountain Way, Unit 300, Newport News, VA 23606
      View Details

    FAQs

    What type of property is this?
    Restaurant - Second-generation restaurant space available in a super regional mall.
    Where is this restaurant located?
    The property is located at 12300 Jefferson Ave Newport News, VA.
    What are key features of this property?
    This property features: High visibility location off I‑64 (Exit 255) with 123,000 VPD; 8,200 SF second‑generation restaurant space available; Fully equipped kitchen
    (757) 633-9989 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Clay Willis
    Clay Willis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!