Leased Medical Office
For Sale
$3,800,000
401 Oyster Point Road, Newport News, VA 23602
Commercial/Industrial, Newport News, VA
Property Size17,840 SF
Lot Size1.27 Acres
Price / SF$213
Days on Market52
Property Features for 401 Oyster Point Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Subdivision
ALL OTHERS AREA 108
Standard status
Active
Size
17,840 SF
Lot size
1.27 Acres
Taxes and HOA fees
Tax Annual Amount
32393
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1990
Roof type
Shingle
Listing Agency:
RE/MAX Connect · RE/MAX International
Listed By:
Carlyn Menser · License #0225104023
(757) 525-3639
Added: Sep 9
Changed: Oct 1
Last Checked: Oct 30 at 3:06AM
MLS# 10652928
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1990, this 17,840-square-foot medical office building contains three leased units within a 1.27-acre property. The building is served by forced-air heating and central air conditioning and has a shingle roof. C1 zoning supports its commercial office classification.
The property is located at 401 Oyster Point Road in Newport News, Virginia, near established businesses, medical providers, and retail amenities. Its setting provides access to surrounding commercial services and places the building within an established business corridor.
The property is located at 401 Oyster Point Road in Newport News, Virginia, near established businesses, medical providers, and retail amenities. Its setting provides access to surrounding commercial services and places the building within an established business corridor.
Key Highlights
- 17,840‑square‑foot medical office building
- Three fully leased units
- 1.27‑acre property
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.
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Property Analytics
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See the owner, sales and loan history
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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
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three-unit medical office property with C1 zoning, established tenancy, and central HVAC systems.
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; 1.27‑acre property
