Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Landmark Building in Oyster Point Title is generated by Realmo AI

    724 Thimble Shoals Blvd, Newport News, VA 23606

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    High-visibility single-story office building near City Center.

    Type:Office
    Property size:
    30,000 SF
    Lot size:
    3.00 Acres
    Added:
    Apr 24, 2023
    Days on Market:
    1136
    Last Refresh:
    Mar 25 at 7:58 am

    Property Features for 724 Thimble Shoals Blvd

    General Information

    Standard status
    Active
    Size
    30,000 SF
    Lot size
    3.00 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 724 Thimble Shoals Blvd Contact us

    Suite B $18/Mo

    Size
    7,500 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Andy Dallas, CCIM, SIOR
    Andy Dallas, CCIM, SIOR

    Listing agent Andy Dallas, CCIM, SIOR License #VA 0225087644

    Listing office Cushman & Wakefield Thalhimer - Newport News, Virginia

    Listing date Apr 24, 2023

    Source Crexi

    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 - Newport News, Virginia

    HighLights

    • Landmark building in Oyster Point Park with maximum visibility at a signalized intersection.
    • Adjacent to City Center, a 52‑acre mixed‑use development with Class A office buildings, national retailers, entertainment, and a Marriott Conference Center.
    • 30,000 SF single‑story structure.
    • Almost 3 acres of land.
    • 154 surface‑level parking spaces.
    • Built in 1984.

    Overview

    The Equidata Building is a recognized landmark in Oyster Point Park. Situated at a signalized intersection, it offers high visibility to traffic on Canon Blvd and Thimble Shoals Blvd. The single-story structure encompasses 30,000 square feet on almost 3 acres, with 154 surface-level parking spaces. The property is adjacent to City Center, a 52-acre mixed-use development featuring Class A office buildings, national retailers, entertainment facilities, and a Marriott Conference Center.
    Location Intelligence

    Current Use by Public Records

    Homes by David ... Real Estate Agency Keith Lovick, Howard ... Real Estate Agency Stephen Simmons Real Estate Agency The Crist Team, Howard ... Real Estate Agency Katlyn Potter Loan ... Loan Service

    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
    -76.4698562
    Latitude
    37.0839314

    Nearby Similar for Lease

    • $1,750/Mo
      1,441 SF

      Office/Retail Space with Open Plan

      Flexible office and retail layout in a mixed-use district with high visibility and steady foot traffic.
      117 Herman Melville Avenue, Newport News, VA 23606
      View Details
    • $12 SF/Yr
      1,700 SF

      Harpersville Road Commercial Space

      Versatile 1,700 sqft commercial space in high-visibility location.
      133 Harpersville Road, Newport News, VA 23601
      View Details
    • $19 SF/Yr
      1,360 SF

      Newport News Commercial Space

      Well-appointed commercial space suitable for medical or retail use.
      11745 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $11 SF/Yr
      2,000 SF

      Flex Space Near Town Center

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

      Office Space Near Town Center

      Office space for rent near Town Center in Newport News.
      11747 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $13 SF/Yr
      6,000 SF

      Newport News Flex Space Available

      6,000 SF flex space in Jefferson Business Park.
      300 Ed Wright Lane, Newport News, VA 23606
      View Details
    • $10 SF/Yr
      5,771 SF

      Multipurpose Religious and Community Facility

      Flexible R4- zoned facility with large gathering space, offices, and adaptable program areas for community-oriented operators.
      3310 Roanoke (3314) Avenue, Newport News, VA 23607
      View Details
    • Sponsored
      $129-$4,036/Mo
      11-1,292 SF

      Oyster Point

      11815 Fountain Way, Unit 300, Newport News, VA 23606
      View Details
    • $16 SF/Yr
      1,500 SF

      Built-Out Barber Shop For Lease

      High-visibility location in Hampton's active commercial corridor.
      5005-5015 Mercury Blvd, Newport News, VA
      View Details
    • $19 SF/Yr
      2,500 SF

      Retail/Office Space on Jefferson Avenue

      Retail or office space available in Newport News shopping center.
      11745 Jefferson Avenue, Newport News, VA 23606
      View Details
    • Contact for pricing
      8,009 SF

      Newport News Retail Space Available

      8,009 SF retail space in a power center.
      12090 Jefferson Avenue, Newport News, VA 23606
      View Details
    • $23 SF/Yr
      6,242 SF

      Newport News Office Space Available

      Office suites available in Newport News, from 1,149 to 20,210 SF.
      701 Town Ctr Dr, Newport News, VA
      View Details

    FAQs

    What type of property is this?
    Office building - High-visibility single-story office building near City Center.
    Where is this office building located?
    The property is located at 724 Thimble Shoals Blvd Newport News, VA.
    What are key features of this property?
    This property features: Landmark building in Oyster Point Park with maximum visibility at a signalized intersection.; Adjacent to City Center, a 52‑acre mixed‑use development with Class A office buildings, national retailers, entertainment, and a Marriott Conference Center.; 30,000 SF single‑story structure.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Andy Dallas, CCIM, SIOR
    Andy Dallas, CCIM, SIOR
    Real Estate License ID: VA 0225087644
    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

    Thank You for Inquiry
    724 Thimble Shoals Blvd, Newport News, VA 23606
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!