Freestanding Restaurant
For Sale
Contact for pricing
13659 Warwick Blvd, Newport News, VA 23602
Standalone restaurant facility subject to an absolute net lease.
Property Size2,039 SF
Price / SF$269.74
Days on Market8
Property Features for 13659 Warwick Blvd
General Information
Standard status
Active
Size
2,039 SF
Property subtype
RETAIL
Listing Agency:
S.L. Nusbaum Realty Co - Corporate
(757) 640-2265
Listed By:
Martin Murden
Source:
Moodyscre
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 8:44PM
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 S.L. Nusbaum Realty Co - Corporate
Investment Insights
Based on property information with market context.
This freestanding restaurant property contains 2,039 square feet and is structured under an absolute net lease. The operating company has 10 locations across Hampton Roads, providing established regional restaurant operations at the property.
The asset is located at 13659 Warwick Blvd in Newport News, Virginia 23602.
The asset is located at 13659 Warwick Blvd in Newport News, Virginia 23602.
Key Highlights
- Freestanding restaurant facility totaling 2,039 square feet
- Absolute net lease structure
- Regional restaurant operator with 10 Hampton Roads locations
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
$18,391
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
3.34%
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%
$367,820
$367.8K
Cap Rate 7%
$262,729
$262.7K
Cap Rate 9%
$204,344
$204.3K
Market Conditions
NOI Build-Up for 2,039 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
$25.2K $12.36/SF
− Vacancy
−$680 −$0.33/SF
EGI
$24.5K $12.03/SF
− OpEx
−$6.1K −$3.01/SF
NOI
$18.4K $9.02/SF
Area
Newport News, VA
Vacancy
2.70%
Lease Rate
$12.36 /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%
$367,820
Cap Rate 7%
$262,729
Cap Rate 9%
$204,344
Alternative Uses
Best Use
Specialty Retail
$262.7K
$229.9K – $306.5K
NOI $18,391 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.0K
$378.9K – $505.2K
NOI $30,313 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Standalone restaurant facility subject to an absolute net lease.
Where is this conventional restaurant located?
The property is located at 13659 Warwick Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Freestanding restaurant facility totaling 2,039 square feet; Absolute net lease structure; Regional restaurant operator with 10 Hampton Roads locations
