Leased Medical Office
For Sale
$3,800,000
401 Oyster Point Road, Newport News, VA 23602
Three fully leased units create an established medical-office configuration with current occupancy in place.
Property Size17,840 SF
Price / SF$213
Days on Market26
Property Features for 401 Oyster Point Road
General Information
Standard status
Active
Size
17,840 SF
Property subtype
Commercial
Zoning
C1
Occupancy
100%
Additional Details
Office Units
3
Building Details
Year Built
1990
Buildings
1
Tenancy
Multi
Listed By:
herbert culpepper jr
(757) 426-6111
Source:
Pungorealtyonline.idxbroker
Added: Sep 13
Changed: Sep 29
Last Checked: Oct 7 at 8:42AM
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 herbert culpepper jr
Investment Insights
Based on property information with market context.
The property is a 17,840-square-foot medical office building at 401 Oyster Point Rd in Newport News, Virginia. Its configuration includes three units, each fully leased, providing an occupied medical-office asset with established tenancy.
The building is positioned in an area described as highly visible and accessible, with established businesses, medical providers, and retail amenities in the surrounding setting.
The building is positioned in an area described as highly visible and accessible, with established businesses, medical providers, and retail amenities in the surrounding setting.
Key Highlights
- 17,840‑square‑foot medical office building
- Three fully leased units
- Located at 401 Oyster Point Rd, Newport News, VA 23602
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,890
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,957,800
$4.0M
Cap Rate 7%
$2,827,000
$2.8M
Cap Rate 9%
$2,198,778
$2.2M
Market Conditions
NOI Build-Up for 17,840 SF
Gross rent
$310.4K $17.40/SF
− Vacancy
−$46.6K −$2.61/SF
EGI
$263.9K $14.79/SF
− OpEx
−$66.0K −$3.70/SF
NOI
$197.9K $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 Rate 5%
$3,957,800
Cap Rate 7%
$2,827,000
Cap Rate 9%
$2,198,778
Alternative Uses
Best Use
Office B
$2.83M
$2.47M – $3.30M
NOI $197,890 @ 7.0% cap · market cap 5.21%
Second Best
Healthcare Medical
$2.69M
$2.35M – $3.13M
NOI $188,048 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$3.79M
$3.32M – $4.42M
NOI $265,219 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23602, VA
42,004
Population
18,876
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
94%
High-School Grad
13.2 sq mi
ZIP Area
3,182
Density / Sq Mi
$72,487
Median Household Income
$46,125
Median Earnings
$1,446
Median Rent
$270,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three fully leased units create an established medical-office configuration with current occupancy in place.
Where is this medical office space located?
The property is located at 401 Oyster Point Road Newport News, VA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 17,840‑square‑foot medical office building; Three fully leased units; Located at 401 Oyster Point Rd, Newport News, VA 23602
