Brick Car Wash
New
For Sale
$485,000
14358 Deloice Crescent, Newport News, VA 23602
C-1 commercial zoning and extensive concrete paving support evaluation for reuse or redevelopment.
Property Size3,411 SF
Lot Size0.79 Acres
Price / SF$142.19
Days on Market2
Property Features for 14358 Deloice Crescent
General Information
Standard status
Active
Size
3,411 SF
Lot size
0.79 Acres
Zoning
C-1
Additional Details
Land Use
commercial
Building Details
Year Built
1990
Buildings
1
Stories
1
Construction
brick
Listing Agency:
KW Allegiance Shoreline
Listed By:
Suzan Hama Bor
Source:
Horakrealtygroup
Added: Sep 13
Last Checked: Sep 14 at 3:44PM
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 KW Allegiance Shoreline
Investment Insights
Based on property information with market context.
This former car wash property includes a 3,411 SF one-story brick building constructed in 1990. The approximately 0.79-acre site features extensive concrete paving, with circulation and parking areas serving the improvements. C-1 commercial zoning applies to the property.
The site is located at 14358 Deloice Cres in Newport News, within the Denbigh Village area and an established commercial corridor. Its position provides visibility and access within the surrounding commercial setting. Prospective purchasers are responsible for confirming zoning, building condition, and permitted uses through their own due diligence. Leasing inquiries may also be connected with the property owner.
The site is located at 14358 Deloice Cres in Newport News, within the Denbigh Village area and an established commercial corridor. Its position provides visibility and access within the surrounding commercial setting. Prospective purchasers are responsible for confirming zoning, building condition, and permitted uses through their own due diligence. Leasing inquiries may also be connected with the property owner.
Key Highlights
- 3,411 SF one‑story brick building constructed in 1990
- Approximately 0.79 acres with extensive concrete paving
- Formerly operated as a car wash
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
$30,766
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
6.34%
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%
$615,320
$615.3K
Cap Rate 7%
$439,514
$439.5K
Cap Rate 9%
$341,844
$341.8K
Market Conditions
NOI Build-Up for 3,411 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
$42.2K $12.36/SF
− Vacancy
−$1.1K −$0.33/SF
EGI
$41.0K $12.03/SF
− OpEx
−$10.3K −$3.01/SF
NOI
$30.8K $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%
$615,320
Cap Rate 7%
$439,514
Cap Rate 9%
$341,844
Alternative Uses
Best Use
Specialty Retail
$439.5K
$384.6K – $512.8K
NOI $30,766 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$410.2K
$358.9K – $478.6K
NOI $28,715 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$724.4K
$633.9K – $845.2K
NOI $50,710 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
635
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Car wash - C-1 commercial zoning and extensive concrete paving support evaluation for reuse or redevelopment.
Where is this car wash located?
The property is located at 14358 Deloice Crescent Newport News, VA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 3,411 SF one‑story brick building constructed in 1990; Approximately 0.79 acres with extensive concrete paving; Formerly operated as a car wash
