Manufacturing Building with Overhead
For Sale
$749,000
729 Industrial Park Drive Newport, Newport News, VA 23608
Light Industrial (M1) zoning supports distribution, automotive, contractor, and warehouse uses.
Property Size5,000 SF
Price / SF$149.80
Days on Market169
Property Features for 729 Industrial Park Drive Newport
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Factory
Zoning
M1
Amenities
reception area
employee break room
laundry room
Building Details
Building Size
5,000 SF
Year Built
2005
Buildings
1
Listing Agency:
KW Commercial | Hudson Valley United
(845) 636-0377
Listed By:
Jay Feinberg · License #10301202659
(845) 636-0377
Source:
Thebrokerlist
Added: Mar 16
Changed: Aug 31
Last Checked: Aug 31 at 1:26AM
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 KW Commercial | Hudson Valley United
Investment Insights
Based on property information with market context.
This 5,000 SF manufacturing building was constructed in 2005 and is configured for light industrial operations. The facility includes five 12' overhead doors along the front, plus a sixth 12' door serving a steel pavilion that provides covered exterior work space. Interior improvements include a reception area, employee break room with appliances, two bathrooms, main-level storage, a laundry room, and an oversized mezzanine storage area.
The property is located in Newport News, VA, with access to major transportation hubs, the Port of Virginia, and major highways. Newport News/Williamsburg International Airport, Patrick Henry Mall, and Newport News Shipbuilding are identified nearby. Light Industrial District M1 zoning supports uses including distribution, automotive operations, contractor activities, and warehousing.
The property is located in Newport News, VA, with access to major transportation hubs, the Port of Virginia, and major highways. Newport News/Williamsburg International Airport, Patrick Henry Mall, and Newport News Shipbuilding are identified nearby. Light Industrial District M1 zoning supports uses including distribution, automotive operations, contractor activities, and warehousing.
Key Highlights
- 5,000 SF manufacturing building constructed in 2005
- Light Industrial District M1 zoning
- Five 12' overhead doors at the front of the building
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
$40,055
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
5.35%
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%
$801,100
$801.1K
Cap Rate 7%
$572,214
$572.2K
Cap Rate 9%
$445,056
$445.1K
Market Conditions
NOI Build-Up for 5,000 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
$51.0K $10.20/SF
− Vacancy
−$3.9K −$0.78/SF
EGI
$47.1K $9.42/SF
− OpEx
−$7.1K −$1.41/SF
NOI
$40.1K $8.01/SF
Area
Newport News, VA
Vacancy
7.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$801,100
Cap Rate 7%
$572,214
Cap Rate 9%
$445,056
Alternative Uses
Best Use
Warehouse
$572.2K
$500.7K – $667.6K
NOI $40,055 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$471.2K
$412.3K – $549.8K
NOI $32,987 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.06M
$929.2K – $1.24M
NOI $74,333 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 23608, VA
43,943
Population
18,448
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
90%
High-School Grad
10.7 sq mi
ZIP Area
4,107
Density / Sq Mi
$67,556
Median Household Income
$40,208
Median Earnings
$1,245
Median Rent
$243,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Light Industrial (M1) zoning supports distribution, automotive, contractor, and warehouse uses.
Where is this manufacturing property located?
The property is located at 729 Industrial Park Drive Newport Newport News, VA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 5,000 SF manufacturing building constructed in 2005; Light Industrial District M1 zoning; Five 12' overhead doors at the front of the building
