Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    247 28th Street Newport News, VA 23607

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Turn-key office spaces in downtown Newport News for lease.

    Type:OFC, OFC-BLDG, OFC-LOFT
    Property size:
    10,000 SF
    Added:
    Dec 15, 2025
    Days on Market:
    138
    Last Refresh:
    Apr 3 at 4:59 am

    Property Features for 247 28th Street

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Property subtype
    OFC, OFC-BLDG, OFC-LOFT

    Spaces For Lease

    at 247 28th Street Contact us

    We can help!

    Listing Contact
    David Tunnicliffe
    David Tunnicliffe

    Listing agent David Tunnicliffe License #0225201161, VA

    Listing office KW Commercial Mid-Atlantic | KW Town Center

    Listing date Dec 15, 2025

    Source Realnex

    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 Mid-Atlantic | KW Town Center

    Overview

    Newport News Office Space Available

    Available for lease are turn-key office spaces ranging from approximately 1,500 to 10,000 square feet. Leasing opportunities include private offices and whole floor options. The spaces feature clean, updated finishes throughout. Located in downtown Newport News, the property is a three-story building with an elevator and secure access. It offers both small and large conference rooms, with a classroom available on the third floor. A private, on-site parking lot is available. The location is adjacent to Newport News Shipbuilding and Newport News City Offices/Courthouse. The rent is $14 per square foot, offered as a full-service lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Minority AIDS Support ... Charitable Organization K.D Hall Images Photography Service Your Essentials (Bike/Boat/Book/etc) Store Coco Velvet's Beauty ... Spa & Massage Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport News
    County
    Newport News
    State
    Virginia
    Longitude
    -76.4300621
    Latitude
    36.9804268

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Oyster Point

      11815 Fountain Way, Unit 300, Newport News, VA 23606
      View Details
    • $28 SF/Yr

      Retail Space in Jefferson Commons

      Retail space available in prominent Newport News shopping center.
      12551 Jefferson Avenue, Newport News, VA, 23602
      View Details
    • Contact for pricing

      Newport News Retail Space Available

      8,009 SF retail space in a power center.
      12090 Jefferson Avenue, Newport News, VA 23606
      View Details
    • Contact for pricing

      Medical Office Space For Rent

      Shell medical office space available at Sentara Port Warwick.
      11803 Jefferson Avenue | Newport News, VA 23606
      View Details
    • $3,500/Mo

      An open floor plan with individual offices for lease

      Well-maintained office space with good access and traffic count.
      306 Tyler, Newport News, VA 23601
      View Details
    • $18 SF/Yr

      Retail Space in Yoder Plaza

      Retail space available for lease in Yoder Plaza.
      12140-12146 Jefferson Avenue, Newport News, VA 23602
      View Details
    • Contact for pricing

      Retail/Office Development on Jefferson Avenue

      21,240 SF retail/office development in Newport News, Virginia.
      13175 Jefferson Ave, Newport News, VA 23608
      View Details
    • Contact for pricing

      Neighborhood Shopping Center For Lease

      137,925 SF shopping center anchored by Food Lion.
      10700-10880 Warwick Blvd, Newport News, VA 23601
      View Details
    • Contact for pricing

      Port Warwick Office/Retail Space

      1,441 sq ft office/retail space in vibrant mixed-use community.
      117 Herman Melville Avenue, Newport, News, VA 23606
      View Details
    • Contact for pricing

      Retail Space in Jefferson Plaza

      Retail space available in a busy Newport News shopping center.
      12121 Jefferson Ave, Newport News, VA 23602
      View Details
    • $10 SF/Yr

      Newport News Retail Space Available

      Neighborhood shopping center with high visibility and ample parking.
      14331-14365 Warwick Blvd, Newport News, VA
      View Details
    • $14 SF/Yr

      Office/Flex Space with Warehouse

      Office and flex space with conditioned warehouse in Newport News.
      11864 Canon Blvd, Newport News, VA
      View Details

    FAQs

    What type of property is this?
    Office building - Turn-key office spaces in downtown Newport News for lease.
    Where is this office building located?
    The property is located at 247 28th Street Newport News, VA.
    What are key features of this property?
    This property features: Turn‑key office space with updated finishes.; Private, on‑site parking lot.; Flexible space options available, ranging from 1,500 to 10,000 SF.
    (757) 580-2991
    We can help!
    Listing Contact
    David Tunnicliffe
    David Tunnicliffe
    Real Estate License ID: 0225201161, VA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    247 28th Street, Newport News, VA 23607

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!