Newport News Commercial Property For
For Sale
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13801 Warwick Boulevard, Newport News, VA 23602
3,075 SF commercial property in Newport News for sale.
Property Size3,075 SF
Lot Size0.69 Acres
Price / SF$243.90
Days on Market159
Property Features for 13801 Warwick Boulevard
General Information
Standard status
Active
Size
3,075 SF
Class
A
Total Parking Spaces
21
Lot size
0.69 Acres
Property subtype
Office, Retail
Zoning
C1
Investment Type
Owner/User
Building Details
Year Built
1991
Year Renovated
2005
Buildings
1
Stories
1
Listing Agency:
Harvey Lindsay Commercial Real Estate
(757) 640-9290
Listed By:
Michael Allen, CCIM · License #VA 0225228674
Source:
Crexi
Added: Mar 6
Changed: Aug 7
Last Checked: Aug 9 at 3:21PM
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 Harvey Lindsay Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 13801 Warwick Boulevard in Newport News, VA, this commercial property offers a prime investment opportunity. Formerly a bank branch, the property features a signalized intersection at Warwick Boulevard and Tabb Lane, along with two drive-through lanes. The building provides Class A office amenities within its 3,075 square foot layout, situated on a 0.69-acre lot. The property benefits from high visibility, with 178 linear feet of frontage on Warwick Boulevard and 155 linear feet on Tabbs Lane. Located in the Sherwood Neighborhood, the property has an assessed value of $1,075,600. The surrounding area experiences high traffic counts of 39,093 vehicles per day on Warwick Boulevard. A population of 91,371 resides within a 10-minute drive time. Ample parking is available.
Key Highlights
- Prime location at a signalized intersection of Warwick Blvd and Tabb Ln, boasting high traffic counts.
- Former bank branch featuring two drive‑through lanes.
- Class A office building amenities.
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
$27,736
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
3.70%
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%
$554,720
$554.7K
Cap Rate 7%
$396,229
$396.2K
Cap Rate 9%
$308,178
$308.2K
Market Conditions
NOI Build-Up for 3,075 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
$38.0K $12.36/SF
− Vacancy
−$1.0K −$0.33/SF
EGI
$37.0K $12.03/SF
− OpEx
−$9.2K −$3.01/SF
NOI
$27.7K $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%
$554,720
Cap Rate 7%
$396,229
Cap Rate 9%
$308,178
Alternative Uses
Best Use
Specialty Retail
$396.2K
$346.7K – $462.3K
NOI $27,736 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$369.8K
$323.6K – $431.5K
NOI $25,887 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$653.1K
$571.4K – $761.9K
NOI $45,715 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Bank - 3,075 SF commercial property in Newport News for sale.
Where is this bank located?
The property is located at 13801 Warwick Boulevard Newport News, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime location at a signalized intersection of Warwick Blvd and Tabb Ln, boasting high traffic counts.; Former bank branch featuring two drive‑through lanes.; Class A office building amenities.
