Multi-Story Office Building with
For Sale
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600 Thimble Shoals Blvd, Newport News, VA 23606
Masonry and glass office building with two elevators and 167 parking spaces, built in 1986.
Property Size45,344 SF
Lot Size4.14 Acres
Price / SF$186.90
Days on Market185
Property Features for 600 Thimble Shoals Blvd
General Information
Standard status
Active
Size
45,344 SF
Total Parking Spaces
167
Lot size
4.14 Acres
Property subtype
Office
Zoning
C-4
Lease Type
Full Service
Net Operating Income
$331,270
Site & Location
Neighborhood
Kingstowne
Additional Details
Furnished
Yes
Building Details
Year Built
1986
Construction
masonry and glass
Listing Agency:
Commonwealth Commercial Partners
Listed By:
Ryan Fanelli · License #VA 0225205575
(804) 400-6163
Source:
Crexi
Added: Apr 29
Changed: Oct 26
Last Checked: Oct 30 at 11:28AM
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 Commonwealth Commercial Partners
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Investment Insights
Based on property information with market context.
Built in 1986, this masonry and glass office building totals approximately 45,344 square feet and is positioned on a prominent corner. The property includes two elevators and provides extensive parking with 167 spaces, along with a large drive-through lot. A furnished office suite is available within the building, with Suite 130 offering 1,724 rentable square feet, two private offices, a conference room, a kitchenette, a bathroom, and eight cubicles.
The site is described as being in Oyster Point and includes a C-4 zoning designation. The property also lists a long-term anchor tenant, Wells Fargo.
This offering includes financial information provided in the remarks, including 2026 Budget NOI of $331,270 and a WALT as of 1/26 of 4.17.
The site is described as being in Oyster Point and includes a C-4 zoning designation. The property also lists a long-term anchor tenant, Wells Fargo.
This offering includes financial information provided in the remarks, including 2026 Budget NOI of $331,270 and a WALT as of 1/26 of 4.17.
Key Highlights
- 45,344± SF office building in Oyster Point with 41,499± rentable SF
- Suite 130 for lease: 1,724± SF with two private offices, conference room, kitchenette, bathroom, and 8 cubicles
- Long‑term anchor tenant Wells Fargo
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$502,978
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,059,560
$10.1M
Cap Rate 7%
$7,185,400
$7.2M
Cap Rate 9%
$5,588,644
$5.6M
Market Conditions
NOI Build-Up for 45,344 SF
Gross rent
$789.0K $17.40/SF
− Vacancy
−$118.3K −$2.61/SF
EGI
$670.6K $14.79/SF
− OpEx
−$167.7K −$3.70/SF
NOI
$503.0K $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%
$10,059,560
Cap Rate 7%
$7,185,400
Cap Rate 9%
$5,588,644
Alternative Uses
Best Use
Office B
$7.19M
$6.29M – $8.38M
NOI $502,978 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.63M
$8.43M – $11.24M
NOI $674,109 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,348
Businesses Nearby
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Business Placement
Demographics for 23606, VA
31,684
Population
13,186
Households
2.4
Avg Household Size
33
Median Age
38%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
3,266
Density / Sq Mi
$69,921
Median Household Income
$38,647
Median Earnings
$1,327
Median Rent
$296,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Masonry and glass office building with two elevators and 167 parking spaces, built in 1986.
Where is this office building located?
The property is located at 600 Thimble Shoals Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $8,475,000.
What are key features of this property?
This property features: 45,344± SF office building in Oyster Point with 41,499± rentable SF; Suite 130 for lease: 1,724± SF with two private offices, conference room, kitchenette, bathroom, and 8 cubicles; Long‑term anchor tenant Wells Fargo
