Free-Standing Retail Redevelopment
For Sale
Contact for pricing
671 J Clyde Morris Blvd, Newport News, VA 23606
Free-standing retail building at a signalized intersection with double-lane drive-thru, canopy, and 47 parking spaces.
Property Size11,309 SF
Price / SF$256.43
Days on Market256
Property Features for 671 J Clyde Morris Blvd
General Information
Standard status
Active
Size
11,309 SF
Total Parking Spaces
47
Property subtype
RETAIL
Zoning
C-1
Additional Details
Business Included
No
Traffic Count
38,498 vehicles/day
Building Details
Year Built
1996
Listing Agency:
Divaris Real Estate - Hampton Roads
(757) 873-4700
Listed By:
Levi Thomson
(757) 675-9132
Source:
Moodyscre
Added: Feb 4
Changed: Oct 7
Last Checked: Oct 16 at 9:26AM
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 Divaris Real Estate - Hampton Roads
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Investment Insights
Based on property information with market context.
This free-standing retail building was constructed in 1996 and totals 11,309 square feet. The site includes a double lane drive-thru with a canopy, along with a pylon sign for exterior visibility.
The property is located at a signalized intersection on a heavily traveled road with a listed traffic count of 38,498 vehicles per day. Parking is available with 47 spaces.
Zoned C-1, the building is presented as a redevelopment opportunity in an Enterprise Zone, offering flexibility for qualifying retail users and developers.
The property is located at a signalized intersection on a heavily traveled road with a listed traffic count of 38,498 vehicles per day. Parking is available with 47 spaces.
Zoned C-1, the building is presented as a redevelopment opportunity in an Enterprise Zone, offering flexibility for qualifying retail users and developers.
Key Highlights
- 11,309 SF free‑standing building constructed in 1996 at 671 J Clyde Morris Boulevard (Newport News, VA)
- Signalized intersection location with 38,498 VPD traffic count
- Zoned C‑1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,004
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,040,080
$2.0M
Cap Rate 7%
$1,457,200
$1.5M
Cap Rate 9%
$1,133,378
$1.1M
Market Conditions
NOI Build-Up for 11,309 SF
Gross rent
$139.8K $12.36/SF
− Vacancy
−$3.8K −$0.33/SF
EGI
$136.0K $12.03/SF
− OpEx
−$34.0K −$3.01/SF
NOI
$102.0K $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 Rate 5%
$2,040,080
Cap Rate 7%
$1,457,200
Cap Rate 9%
$1,133,378
Alternative Uses
Best Use
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,004 @ 7.0% cap · market cap 3.52%
Second Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,204 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,126 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
38,498 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Jimmy John's
Dining
2,266 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Free-standing retail building at a signalized intersection with double-lane drive-thru, canopy, and 47 parking spaces.
Where is this retail space located?
The property is located at 671 J Clyde Morris Blvd Newport News, VA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 11,309 SF free‑standing building constructed in 1996 at 671 J Clyde Morris Boulevard (Newport News, VA); Signalized intersection location with 38,498 VPD traffic count; Zoned C‑1
