Dental Medical Office
For Sale
$400,000
9916 Warwick Boulevard, Newport News, VA 23601
Suitable for dental office use and other small-business applications.
Property Size1,542 SF
Price / SF$259.40
Days on Market9
Property Features for 9916 Warwick Boulevard
General Information
Standard status
Active
Size
1,542 SF
Additional Details
Road Access
Yes
Listing Agency:
Garrett Realty Partners
(757) 879-8599
Listed By:
Greg Garrett · License #0225071029
Source:
Distinctlyrealestate
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 7:13PM
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 Garrett Realty Partners
Investment Insights
Based on property information with market context.
This medical office space is identified for dental office use and may also accommodate a small contractor or other business applications. The property is located at 9916 Warwick Boulevard in Newport News, Virginia 23601.
Key Highlights
- Identified for dental office use
- Located at 9916 Warwick Boulevard, Newport News, VA 23601
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,105
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$342,100
$342.1K
Cap Rate 7%
$244,357
$244.4K
Cap Rate 9%
$190,056
$190.1K
Market Conditions
NOI Build-Up for 1,542 SF
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.
Gross rent
$26.8K $17.40/SF
− Vacancy
−$4.0K −$2.61/SF
EGI
$22.8K $14.79/SF
− OpEx
−$5.7K −$3.70/SF
NOI
$17.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$342,100
Cap Rate 7%
$244,357
Cap Rate 9%
$190,056
Alternative Uses
Best Use
Office B
$244.4K
$213.8K – $285.1K
NOI $17,105 @ 7.0% cap · market cap 4.28%
Second Best
Healthcare Medical
$232.2K
$203.2K – $270.9K
NOI $16,254 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$327.5K
$286.6K – $382.1K
NOI $22,924 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23601, VA
25,729
Population
12,593
Households
2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,477
Density / Sq Mi
$71,345
Median Household Income
$48,310
Median Earnings
$1,231
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Suitable for dental office use and other small-business applications.
Where is this medical office space located?
The property is located at 9916 Warwick Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Identified for dental office use; Located at 9916 Warwick Boulevard, Newport News, VA 23601
